Strategies for Business Sustainability in a Collaborative Economy

Abstract

The increasingly complex and turbulent 21st century work environment poses challenges for businesses that can threaten their long-term sustainability. Given the rapid developments in technology, increasing rates of employee turnover, skills shortages, and changing expectations from Generation Z, the youngest generation now entering the workforce, organizations are recognizing the importance of developing a career resilient workforce. Individual employees' career resilience frames their capacity to respond when faced with career challenges, allowing them to continue functioning effectively, adapt in a flexible manner, and to successfully deliver work outcomes. To sustain a resilient workforce, managers must actively plan, develop, and deploy human resource management initiatives aimed at instilling career resilience in the youngest workplace entrants. By strategically designing generationally-appropriate management practices to maximize Generation Z talent, organizations can bolster their business sustainability to remain competitive in the changing economy.