Computers have become an increasingly large part of our daily lives, and they have also changed the way in which we work. In this regard, a new era of industry has arisen — Industry 4.0.
Student loan assistance programs will play a role in your approach toward this new era of work.
Understanding Industry 4.0
Industry 4.0 is a term that has been given to the trend of automation in the workplace.
From the Internet of Things (IoT) to cloud computing to the expanding applications of artificial intelligence, this new industry is considered the fourth Industrial Revolution.
The original Industrial Revolution took place from around 1760 to 1820 in the United States. This revolution involved a shift in manufacturing processes and saw a rise in the use of machines in the workplace.
The impacts of the Industrial Revolution were unprecedented. Industries grew rapidly, the standard of living was improved, and the population rose along with it.
With each new advancement in technology, the way we work has changed. Many jobs that once required tedious labor have been automated. Machines have created more efficient processes and, in many cases, safer workplaces.
As Industry 4.0 takes center stage, though, the tone has shifted. With supercomputers and artificial intelligence on the rise, many in the workforce have been left wondering “what will my continued role be?” To uncover how employees feel about Industry 4.0, we will dive into a study by Deloitte on the largest sector of the current workforce — Millennials.
How Your Employees Feel About This New Era
Millennials are a generation that grew up with computers and has adapted to technology almost without a thought, so you might assume that Millennials are ready to dive into this new era of industry. However, in their recent 2018 survey, Deloitte found that this is not actually the case.
In fact, it is quite the opposite. Fewer than four in 10 Millennials surveyed believed that they have the knowledge and skills that they need to thrive in Industry 4.0.
The reality is that most of your employees feel overwhelmed by the changes taking place. They feel uncertain about the role they will continue to play and they feel underprepared for the future of industry.
What You Can Do To Prepare Your Team
As a company, it is vital that you take a proactive approach to the changes that Industry 4.0 will undoubtedly bring.
While the complete automation of every job is far from on our doorstep, it is important that your workforce feels ready to handle the shifting climate of what it means to work.
The following are just a few ways you can stand out as a company that is preparing its employees, not leaving them in the dark.
Invest In Ongoing Training
As technology changes, so will the skills that your employees need to have. In order to help them feel empowered through these changes, invest in ongoing training for your staff. Look at ways each department might need to grow in their skills and find appropriate training.
By providing training as a company benefit, you will not only help your employees feel more prepared for the future, but you will also benefit from their improved skill sets. A small investment up front on your part could provide you with a loyal and highly skilled employee for many years to come.
How much will technology change the industry you are in? Take the time to think about what changes will be taking place in your workplace over the next decade. Once you have a good idea of the direction you see your business going, be transparent with your employees.
In many cases, your staff will wind up worrying needlessly about changes you don’t plan to make. In other situations, they will spread information that simply isn’t true. It is far better for you to be straightforward with your staff and for you to be the leader of the conversation than to let employees concoct their own idea of what your plans are.
Help Lessen Their Burden Of Debt
It is little wonder that Millennials often feel underprepared and incapable of changing that fact. With a heavy burden of student loan debt, this generation holds degrees they might feel are quickly becoming obsolete with no hope of returning to school to improve their education. By offering student loan assistance as a part of your benefits package, you can help your employees feel that they have more options on the table. If they can see a light at the end of the tunnel for paying off their student loans, they can also see hope for investing in further training and educational opportunities.
Here at IonTuition, we make it easy for you to provide your employees with the perk of paying down student loans faster. We provide an outstanding platform that allows you to contribute to your employees’ efforts to pay down their debt while also offering them other useful tools that assist them in better financial stability.
From concierge advisors to self-service planning tools, we offer an array of resources that will ensure your staff feels prepared for the future ahead. With better financial stability, your employees will be able to focus on growing into the skills they need for your business.
If you are interested in learning more about our program at IonTuition and how your company could implement it, please reach out to our team. We will be happy to work with you to prepare for the changes ahead and to help you empower your staff for the future of technology.