The need for talent retention--and the impact of the global financial crisis-- will, undoubtedly, lead to some older workers postponing their retirement and managers facing the challenge of managing a more generation diverse workforce than before.
With Generation Y employees (generally those born from 1980) usually tending to stay with one employer for shorter periods and older workers tending to be more loyal, managers must be able to relate to both.
Australia's McCrindle Research suggests that young people tend to leave their jobs because there is no compelling reason to stay, rather than a compelling reason to leave. Research also suggests that almost 90% of Generation Y employees see regular training from their employer as a motivation to stay.
Training has always been a key element in engaging and managing a workforce; it becomes more so with a more generation diverse one.
Training means more than technical skills and proficiency. Training in people skills is often preferred by Generation Y and, generally, older workers whilst always willing to expand their technical skills, still see people skills as a solid foundation for this.
Talent retention will become as important as talent attraction and the required people skills to do so, equally important.
Retaining a skilled workforce will mean training one too.
QUOTES TO CONSIDER
"If I was getting good training, yes it would definitely keep me here."
Generation Y employee.
Do you train and retain, or say no and watch them go?
"We've just come out of years of education so we're used to it. It is important." Generation Y employee.
How important is it to you? How do you view the training dollar?
A STEP TO TAKE
Good people skills can help reduce many bills. We can help develop workforce people skills and keep them up to date. Just call us on +613 9562 2248
Charles Kovess CSP