Within the next five years GenY will make up 40% of the workforce, today it is 20%.
The common attributes of Gen Y are they are agressive, they're hungry to suceed and they want time away from the office. To use a sporting analogy, they run fast and they run straight. They like to play hard. (dont we all)
In the workplace, they dont want to push paper. lets face it they are technology savvy and they dont care how things used to be done.
The Legal industry and specifically the conveyancing and mortgage industry should be concerned with this generational shift. If the industry does not change, ie get smarter, expect attrition. Gen Y just wont tolerate the paper crap and the inefficiencies of an offline paper world. (didn't the securities industry change over years ago?)
But for those that do adopt and evolve they can expect to reap the rewards and the profits. My previous post concerned incremental changes. Not good enough. We need big bang changes.
credit for quotes above - Business Sunday
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