EMPLOYMENT STRATEGIES FOR EMPLOYERS

How to Find & Keep Valued Employees     How to Take your New Hire from Orientation to Integration

Attention to the kinds of details you will find below may improve your business's employee retention rate in a tight labor market.  Perhaps, as an employer, there is something in this list that you could implement in your own organization.

For employers, the benefits of providing perks and benefits are numerous: they increase in staff retention, job seekers applying, efficiency and prosperity. Retaining employees: lower training costs and decreases costs in general. Providing perks and benefits can of set wage increases which can prevent increases in annual wage costs.

Employees are placing value training, advancement potential and a less dictatorial management as highly as salary, if not higher. Issues like flex time, day care and health insurance become high priorities and as the work force gets older, concerns about retirement planning rise in importance.

The following table, while not exhaustive, is atool to help analyse and develop a better understanding of the characteristics of each group.

BABYBOOMERS GENERATION   X GENERATION   Y
APPROXIMATE CURRENT AGE AND WORK ENVIROMENT
  • 40 - 59
  • Employed at a company
  • 30 - 39
  • Employed at a company, self employed, telecommuting
  • 18 - 29
  • Telecommuting, gobal working arena, Internet-based jobs
VISION OF WORK
  • Hierarchal structure
  • Specific role in the organization
  • Have a retirement plan
  • Want to "believe" in their company
  • Want to find enjoyment in their work again
  • Regret having made work too much of a priority
  • Team structure
  • Participation in projects
  • Have a career plan
  • Are loyal provided they're getting something out of it
  • Assume that work and enjoyment should go hand in hand
  • Put their personal and professional lives on the same level
  • Community structure
  • Free agent
  • Have a life plan
  • Look for loyalty from their co-workers
  • Assume that work should be enjoyable
  • Consider work to be an extension of their personal lives
MOTIVATIONAL FACTORS
  • Fair distribution of tasks
  • Availability of resources
  • Delegation of authority based on required tasks
  • Participation in the decision-making
  • Recognition of their experience and expertise
  • Ability to balance their personal and professional lives
  • Expectation of partnership with the company
  • Alignment of personal and company values
  • Desire for openness and transparency
  • Desire for personal growth through work
  • Opportunity for new work experiences
  • Look for challenges. varied tasks and opportunities for promotion
  • Freedom, flexible hours
  • Participation in decisions
  • Friendly work environment
RETENTION FACTORS
  • Company's stability, employee benefits
  • Job security until retirement and advancement in the company
  • Recognition of their contribution to the company's success
  • Relaxed company culture
  • Growth of expertise and ability to advance quickly
  • Recognition of their contribution to the team
  • Company's technical savvy
  • Self-actualization, opportunity to learn new things
  • Recognition for their contribution within their community