Millennials, Gen Z, and the Scope of eSignatures
The rise of technology has revolutionized the way we work and interact with each other, especially in the business landscape. As the workforce evolves, the use of digital tools has become a norm, and the new generation of employees, specifically millennials and Gen Z, are leading the charge. These tech-savvy employees are utilizing digital tools to drive productivity, efficiency, and growth in the workplace.
One such digital tool that has transformed the way businesses operate is electronic signatures or eSignatures. The ability to sign documents digitally has streamlined business agreements and created new opportunities for growth. However, the question remains: which generation will be the primary driver of e-signature adoption in the workplace?
In this blog, we'll examine whether millennials or Gen Z are more likely to embrace eSignatures and shape the future of business agreements. We'll explore the characteristics and preferences of each group to determine which generation is better suited to lead the charge. So, let's dive in and explore the e-signature market!
The Generational Shift
As the nature of work continues to evolve, so do the expectations of each generation entering the workforce. To harness the full potential of these generations, companies must understand and anticipate their needs. Let's take a closer look at the two generations currently in the workforce.
Millennials – The millennials or Gen Y are one of the largest groups to enter the workforce after experiencing the evolution of the internet. Having gone from dial-up to broadband speeds, they recognize the value of convenience and efficiency. As reported by CommBox, 71% of millennials expect businesses to prioritize their time. They are always looking for ways to become more productive and rely heavily on technology to streamline their work processes.
Zoomers – The zoomers or Gen Z are the latest generations to enter the workforce. As digital natives, they are comfortable working with the latest technologies and rely on digital channels to make crucial decisions. This generation is adept at capitalizing on the opportunities opened up by globalization and prioritizes transparency and trust in the workplace. Companies must consider these characteristics to keep up with this new generation of employees.
Organizational culture can be challenging to change, especially when it comes to legacy technologies. Here's how the different generations approach it:
Millennials place a higher emphasis on company culture and a sense of purpose and belonging in the workplace. Contrary to popular belief, they aren't easily distracted by technology but, rather, use it to maximize efficiency and productivity.
By 2025, millennials will make up an estimated 75% of the global workforce, according to a report by Deloitte.
On the other hand, zoomers are comfortable with new working styles such as remote work, gig economy, and flexible career paths. Having grown up in the digital era, they are adept at learning new systems and customizing them to fit the organizational culture.
In the United States alone, members of Gen Z entering the workforce make up around 25% of the population, according to a report by Pew Research Center.
What is the impact of flexible working?
Flexible working practices have become crucial for today's employees, who prioritize work-life balance and the ability to work remotely. Here's how it affects different generations:
- Millennials – are open to flexible working practices that allow them to be productive while maintaining a healthy work-life balance. Businesses that support work-life integration and offer flexible working can attract millennials, especially those who are working parents. Flexi-work allows them to enjoy the benefits of reduced working hours, flexible shifts, and incentives for overtime. Additionally, their focus on upskilling and gaining new experiences instead of climbing the corporate hierarchy makes them valuable to digitally-forward organizations.
In fact, a report by Flexi jobs found that 40% of millennials with children prefer flexible working arrangements.
- Zoomers – Similarly, zoomers are big on flexi-work, especially after their experience during the COVID-19 pandemic. They prefer to work remotely and consider work-life balance to be a key factor in their job search. As digital natives, they can leverage the power of digital tools to be highly efficient at work. Moreover, a flexible approach to work can help companies stay lean while delivering on their client promises.
In summary, flexible working plays a vital role in attracting and retaining top talent, especially millennials and zoomers who prioritize work-life balance and the ability to work remotely. Companies that offer flexible working arrangements can not only boost employee satisfaction but also gain a competitive advantage in today's job market.
The Case for Electronic Signatures
The increasing adoption of virtual signatures in the workplace represents a significant shift towards a more efficient and streamlined way of doing business. Electronic signatures enable employees to complete important tasks from anywhere and on any device, improving the overall employee experience. Online digital signatures not only help organizations save time and resources, but they also provide a more convenient and user-friendly experience for employees
Benefits of eSignatures
In today's fast-paced business world, electronic signatures offer a reliable solution for organizations seeking to rapidly expand their operations. By eliminating the need for paper-based transactions and manual processing, electronic signatures help businesses save time and resources while increasing efficiency and productivity. Here are its benefits:
High Processing Speed – Electronic signatures considerably improve internal operations' processing speed. Since agreements are digital-based, current employees can proofread documents and reduce the margin of error.If there are any errors, employees can rectify them immediately without the need for continuous printing.
Low Operational Expenses – Companies will be able to cut down on operational costs by switching to digital documents. Crucial documents can be stored and managed virtually on the cloud.
Paperless Trails – Electronic signatures can provide transparency to communications and ensure goals are met. Project stakeholders can be accountable for their targets and provide their approval digitally.
Advanced Security – Electronic signatures provide advanced security to digital documents. Since companies safeguard their data, this solution employs two-factor authentication and other security verification methods to keep malicious actors away.
Legally Enforceable – Electronic signature solutions comply with the Uniform Electronic Transactions Act (UETA) and the E-Sign Act. It means that documents signed via eSignatures are valid in a court of law.
DrySign is a trusted digital signature maker that enables users to easily create and apply their digital signatures to electronic documents. With just a single click, users can provide their consent and sign documents from anywhere, at any time. DrySign is committed to adhering to international eSignature laws and regulations, ensuring that its users have access to a reliable, secure, and flexible platform for signing and managing their documents.
In conclusion, understanding the differences in how each generation views productivity is essential for businesses to thrive in the digital age. With the help of digital technologies, collaboration and productivity can be enhanced across different age groups. Electronic signatures are a powerful tool that can streamline processes and improve efficiency for all generations. DrySign, a trusted digital signature maker, offers a simple and compliant solution for users to provide their consent on electronic documents with just a single click. It is a tool that can help businesses scale rapidly and unlock the potential of their workspace. So, whether you are a millennial or a zoomer, DrySign can help you streamline your work processes and achieve your organizational goals. Unlock the potential of your workspace with DrySign
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DISCLAIMER: The information on this site is for general information purposes only and is not intended to serve as legal advice. Laws governing the subject matter may change quickly, and Exela cannot guarantee that all the information on this site is current or correct. Should you have specific legal questions about any of the information on this site, you should consult with a licensed attorney in your area.