The way companies work is changing with every passing day. Experts believe that there is an increasing social consciousness in the enterprises today.
“It is emerging across the world that the organizations do not want to focus only on profitability. In the current networked sharing economy, they are exploring ways and means to put purpose before the product. They are realising that it is in our self-interest to not be self-centered,” says Dr Christian Busch, Associate Director and Research Fellow at Innovation and Co-Creation Lab, London School of Economics. He was speaking at an event organised by NetEvents in Singapore recently.
This is also evident from the fact that organizations are moving away Maslow Pyramid of needs and are in a way inverting the pyramid. As per Maslow Pyramid, which has been used for generations to understand motivational needs of human beings, self-actualisation needs come last after basic, social, security and esteem needs. However, this is changing with self-actualisation becoming the prime motivator of millennials.
It is partly driven by the ever-increasing number of Millennials or Generation Y, as they are usually referred to. This generation is often referred to as selfish, vain and proud. However at the same time it is also the generation which wants to focus on doing good for the society. This generation is also more aware of the climate changes and is in fact ready to take a pay cut to work for a company which is more socially conscious. Increasingly, they want to go beyond earning a living to actually doing things that have a long term social impact.
“There is little doubt that this generation is working towards big societal issues. Meaning of success is changing for this generation. Thanks to technology, this generation is a lot more connected than any other generation ever, so they are more aware of what is happening in other parts of the world. They are also inspired by their peers from different parts of the world, who might be doing a work with big social impact. There is also more social acceptance of this kind of work, which was not the case earlier,” elaborates Dr Busch.
These are signs of changing times for telecom and IT firms across the globe. The time is not far when they might be forced to advertise their services as bringing social change. As of now the focus is on connectivity but sustainability might becoming an advertising plank a few years from now.