Resting quietly across this vibrant green carpet were a few frogs. As vital components of this closed ecosystem, they serve as the pond's natural custodians, keeping the water clean and free of insects and worms. It is this silent, perfect symbiosis that allows the lilies to thrive, clearing the way for them to exhibit their absolute peak blossom when the season sets in.
Each and every jump of the frog was proof that the frog jumped from one leaf to another. With every move, the frog gained more competence. The frog's objective was not merely survival but to gain more skills and more competence in order to stay afloat in the pond. It was more than a symbiotic association. This is all about the photograph I had taken a decade ago.
Gen Z has become the talk of the town nowadays. This is the first generation that grew up with full and uninterrupted access to the internet and with digital devices in hand. One of the peculiarities of this generation is to do things that have some meaning or purpose, with work-life balance also being a priority.
As Generation Z started arriving at workplaces, organizations across the world observed frequent job-hopping among Gen Z. This job-hopping is happening exactly as I had captured in the photograph way back in Delhi. This is exactly called "Lily Padding," where young professionals move intentionally between roles, companies, or even industries to build their skills and enjoy flexibility before they settle down. As per a Randstad survey, 1.1 years is the average tenure spent by Gen Z in their first five years, as compared to 1.8 years for millennials and 3 years for older generations. This is the new paradigm businesses are facing: employees' choices are shifting from loyalty to employability. Long-tenure employment doesn't provide security anymore. Traditional career ladders look too lengthy and frustrating. The phenomenon is commonly seen in the youngest generation, i.e., Generation Z, who started entering the workforce in 2020. This generation is going to be the future of the workforce, and hence leaders cannot overlook it. There is a dire need to rethink the designing of work and work culture.
Ecnomic uncertainty and technological disruptions have altered the employment relationship between employees and employers. The idea of long-term tenure employment started disappearing. And decades of tenure do not guarantee psychological safety. In this VUCA world, youth first focus on employability and then on loyalty.
Exploring different roles is one of the best ways to grow in your career. You pick up new skills along the way, get exposure to varied industries, and meet people who broaden your network. Each move adds another layer to your experience and helps you see the bigger picture. Technological disruptions are making current skills redundant, and it makes sense to acquire new skills in new roles.
Longevity still matters a lot. In some cultures, a candidate's loyalty is gauged on the basis of the number of years spent in one organization. It is imperative to say that the higher the number of years spent, the higher the commitment. Organizations have developed retention strategies to increase longevity. Of course, it has cost benefits.
Frequent role movement may enhance breadth of expertise, but depth may have to suffer. Candidates can be seen as jacks of all trades but masters of none. Employers may question the quality of skills acquired through job-hopping.
The cost of hiring and onboarding is viewed as a significant cost in employment. Frequent job changes destabilize the workplace and bring more uncertainty among team members.
Repeated onboarding opens up new learning horizons in terms of role and organizational culture, but it also brings the burden of proving oneself repeatedly. The acceptance level of new team members could also be another challenge.
There will be fatigue from hunting the next role with reference to desired location, compensation, and organization.
Frequent turnover in the organization erodes institutional learning. It has become hard for organizations to retain knowledge. This leads to delays in project execution and affects teams' KRAs significantly.
For organizations, employees who bring experience from multiple industries may introduce new ideas and diverse perspectives, which can lead to innovation in the institution.
It is easy to ignore the Lily Padding as just another jargon or passing comet in the world of HRM. However, this pattern in the workplace deserves some attention as it is going to stay. The current workforce in the near future would be replenished by Gen Z. Hence it has become imperative to relook at conservative HR practices. Lily Padding is challenging our traditional assumptions about loyalty, career progression, learning and development, and retention.
1. Career Progression - Organizations must evaluate their existing career ladders and make them more realistic and aligned with Gen Z expectations with transparency and authenticity.
2. Learning and Retention - Employees are leaving not because they are dissatisfied but because they want to gain experience. Going forward, retention could happen through learning. Design and deliver learning activities that enhance the skills of employees.
3. Diversity and Inclusion- Young Gen Z want to see people from different socio-economic backgrounds working together to foster a culture of innovation and creativity.
4. Total Rewards - Gen Z would like to work in a flexible environment. They prefer to see purpose being met with authentic output.
Along with cash, they need purpose, wellbeing, reward and recognition, etc.
5. Govern Less and deliver a Lot - Authenticity brings more transparency. More transparency leads to less governance. Policies revolving around these, like attendance and leave, need to be relooked at.
Corporations need to act faster as the first-mover advantage is awaiting them.
Faith
Amol Nakve
9717174776
