This file photo, taken July 3, 2021, shows people crossing a street near Hongik University in Seoul. (Yonhap)
SEOUL, Sept. 15 (Korea Bizwire) — MZ generation employees are increasingly taking on important roles in the retail industry, which is highly sensitive to fast-changing trends.
Hyundai Department Store Co., a major department store chain, decided to make an equity investment of 3 billion won (US$2.55 million) in local startup Nice Weather last month. This was the first time for the company to invest in a startup.
The decision was made by a newly-established group called the ‘future business team.’ Nine out of the team’s ten members are in their 20s and 30s, with the average age of the team members estimated at 29.8.
GS Retail Co. also established a special planning team consisting of 20 young employees in their 20s and 30s. This team is responsible for every phase of new product development ranging from product planning to design and marketing.
Even in HR management, the voice of the MZ generation employees is increasingly reflected.
This month, Lotte Shopping Co. decided to invite its working-level employees in their 20s and 30s to participate as interviewers in the process of hiring new employees.
MZ generation employees typically have a different manner in terms of the way they approach work compared to older employees. Unnecessary presentations are limited, and decision-making is fast.
As a way to spread the efficient work method of the future business team, Hyundai Department Store introduced a simple report system for an entire portion of the company.
This system was based on the practices of the future business team, which uses a work collaboration program to reduce meetings and improve work efficiency when sharing work schedules and progress.
J. S. Shin (js_shin@koreabizwire.com)
