SHRM_TL_3.16.18

Retention, Outplacement & People Planning

Available from Center for Individual & Organizational Effectiveness

With four generations in the workforce, retention and people planning strategies are more complex because of the need to manage the variety of work motivations and behaviors of these groups. For instance, the "free agency" nature of younger generations makes the need for retention strategies and people planning and development, all the more critical. "Free agency" is an analogy to the sports world where free agents do what is best for them individually, without holding a contractual affiliation (or without, some would say, loyalty) to a particular team. The analogy is drawn with younger work generations because of the norm for them to have frequent movement between organizations for career advancement, work-life balance or other reasons. They do not tend to stick with organizations for 25-35 years like their parents did. So, organizations need to consider the critical positions and skills needed to accomplish the organizational goals and then plan for filling those roles. And, organizations need to plan for recruiting, retention and people planning strategies that are flexible and responsive to the motivations and behaviors of the various generations (such as offering "free agency" benefits - e.g. employees don't lose their vacation amount when transferring to another organization. If they had 3 weeks of vacation at their prior company, they retain three weeks of vacation at the new employer, etc.)

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