In part two of our interview series with Margareta Lindahl, Chairwoman of the Board at Northmill Bank, we continue to investigate the importance of culture and organization in a modern economy.
How do you build an organization where talents thrive?
Employee satisfaction is far too often only measured in terms of productivity. The softer values such as health, culture, social responsibility and the company’s ethical standpoints are often forgotten in the equation. A modern workplace needs to meet the requirements of all generations, and actively make decisions on what kind of workplace you wish to build, and what values the organization stands for. Millennials will make up 75 % of the workforce in 2025. And that’s without counting Generation Z and the existing generations of employees who mustn’t be forgotten. Creating a unique and optimal climate for all employees, no matter their age, is just as important as balancing both existing and future needs of our employees.
What challenges will Generation Z put on organizations as they enter the job market?
Generation Z grew up with the internet and are hypercognitive. They're used to cross-referencing and gathering information from many sources. They seek the truth and social interactions to a great extent, which makes transparency and culture keys to attracting talent to your organization. People know this, but few act on it. Perhaps because most companies don't connect this as success factors for employer satisfaction and productivity.
What impact will Gen Z have on the development of future products in your organization?
We talk to them every day, learn and gain insights from their way of thinking. Since this generation was born right into an omni-channel reality, and often interact in different communities and social forums, they have invaluable insights about user experience. Together with our employees who already have great experience and knowledge about product development, this creates an exciting mix which is essential when we develop new products and services.
It sounds so simple, but are there more aspects to consider?
I can assure you it’s not that simple! When you are a product organization like us, where our product teams lead the development of the company, you need to build a scalable organization that can withstand this agile working method. It requires proactivity from the board and executive management regarding the shape and form of the organization, and the development of leaders within the organization. Organizational scalability, continuous work with transparency, our soft values and social culture, creates good conditions to attract new talent.