The challenges posed by the new working system and demands from younger generations are not all immediately obvious either, and the ripple effect is going to affect way more than simple work hours and hiring policies. Here's what business managers and owners need to know.

It's no secret that economies around the world are struggling. Increased inflation, booming petrol prices and erratic stock markets are everywhere, and South Africa is not immune. Recently an economist at Oxford Economics Africa, Jee-A van der Linde, was quoted in the daily Maverick speaking about South Africa specifically. With recession a distinct possibility in the near future, tough times are doubtless ahead for many businesses and avoiding closure is going to become a priority.

Starting a business is often a lonely process. In the beginning you are doing it all, from registering the company to meeting with clients, putting together presentations and managing stock. As the company grows it then becomes necessary to start giving some of these tasks to other people to ensure everything can get done and it's at this stage that business owners need to learn the subtle art of letting go of full control.