As the economy is starting to shift gears will you be in a position to retain your top talent?
Demographics however, have not changed. A war for talent is predicted as more people retire than are entering the labour force. The mitigating factor is baby boomers being expected to work longer than any other preceding generation.
How will you assess your company’s readiness? Here is a list to determine the resiliency of your company:
- Compensation – is it up to date and attractive to the people you want to hire and most importantly to the people you want to keep?
- Management – are you able to communicate with your people in a way that inspires them to be their best and to know what is most important to them? There is a whole new generation of people who have entered the workforce and a new style of management and communication is required to bring people together.
- Opportunities – Do you know where your people would like their career to go? Are you able to offer them opportunities to develop to get there? Your ability to match what your people want with what your company has to offer will keep people longer.
A new labour market scenario is quickly approaching and a company’s ability to be creative and create a winning work environment will be a key success factor in the future.
Are you and your company up to the challenge?
Jacque
Tags: Business, Communication, Management
