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Top Talent lies within each of the four generations of employees in your organization. The "perfect storm" of Baby Boomer retirements, a widening skills gap among incoming new hires, and outdated approaches to talent management threaten long term business performance. Only those organizations that focus not only on integrating and motivating Gen Xers and Gen Ys but also on delaying Boomer and Veteran generation employees' retirement and increasing the engagement of longtime employees will be able to defy the adage, "Demographics determines destiny." Your best candidates for future openings may already work for you!
Only a designed talent management strategy that re-ignites the engagement and productivity of longtime employees, drives innovation and differentiates the organization from its competitors will blunt the negative bottom line effects expected from early and on-time retirements.
By developing internal bench strength through on going training, clearly defined opportunities and even career paths for your longtime employees, not just for new hires and "up and comers," your organization can expect greater business continuity. With skills training often needed annually, the investment in longtime employees pays off. Retaining skilled, high quality employees of all ages increases productivity, and saves time and money by decreasing recruiting costs, orientation, new hire training and cementing customer relationships. |
