ENGAGING & RETAINING MULTI-GENERATIONAL EMPLOYEES RETENTION IDEAS

Transcription

1 ENGAGING & RETAINING MULTI-GENERATIONAL EMPLOYEES RETENTION IDEAS Retention strategies should take into account two elements: 1. Specific ideas for retaining each generation and, 2. Overall/general retention ideas to get the generations working together and sharing a common work experience ELEMENTS OF STRATEGIC GOALS JOB DESIGN: Meaningful Work, Flexible Work Arrangements, Self-Directed Work Teams TRAINING & DEVELOPMENT: Mentorship Programs, Conflict Resolution, Diversity Training, Collaboration Training, Leadership Development COMPENSATION, REWARDS & RECOGNITION: Link to engagement activities and team building PERFORMANCE MANAGEMENT: Appraise based on the effectiveness of team work and collaboration TRADITIONALISTS Want to continue to contribute to their workplaces Many may feel threatened by younger generations and of becoming redundant and less relevant Design jobs that give them opportunities to share their knowledge. Offer Mentorship Programs that keep them engaged with younger generations and at the same time give them value and relevancy. Also, offer team building and conflict resolution skills. Recognition and respect is important to this group. They want to be respected for what they ve done and appreciated for their hard work. An announcement in company newsletters, town hall meetings or other public venues in order to express respect is advised. This group had very little feedback given or expected. Appraising this group should take these elements into account.

2 BABY BOOMERS Looking to work less and enjoy their remaining years in the workforce They want to feel valued and respected for all of their hard work Looking for status and title Design jobs that allow them to share their knowledge and learn new information from younger generations. Mentorship Programs will do the same to this group by keeping them engaged and allowing them to benefit by learning from the younger generations. Also, offer team building, conflict resolution and leadership development. Interested in saving for the future through pension plans, RRSP contributions etc. Want to be recognized for their contributions and respected by younger generations. Feedback is expected on a yearly basis. Implement 360 feedback in order to assess and gauge engagement and collaboration.

3 GENERATION X Looking for work/life balance Offer work shifting, telecommuting, flexible work arrangements and home office set ups to offer more flexibility and a better chance for work/life balance. Mentorship Programs will keep them engaged and allow them to benefit by learning from the younger generations. Offer diversity training, team building, collaboration training, conflict resolution skills and leadership development programs. This group is motivated by money, saving for the future through pension plans, RRSP contributions etc. They are also looking for alternative work arrangements and time-off in order to care for aging parents and children. They want to be recognized for their contributions and respected by younger generations. 360 feedback is advised in order to assess the effectiveness of team building, leadership, collaboration, diversity and conflict resolution skills and abilities.

4 GENERATION Y Looking to build their careers and their families at the same time Diversity is expected in the work place Corporate social responsibility is expected in the work place Similar to above mentioned statement. Offer work shifting, telecommuting, flexible work arrangements and home office set ups to offer more flexibility and a better chance to balance life and work. Mentorship Programs will help them learn tacit knowledge and will keep them engaged by learning from the older generations. Also, offer team building and collaboration training. This generation is very open about sharing compensation information with others. They are looking for alternative work arrangements and time-off in order to balance life and work. They also want time-off to participate in volunteer and community work. 360 feedback is advised in order to assess the effectiveness of team building and collaboration skills and abilities. Feedback should not be restricted to a particular time and should be given often in a constructive manner. Informal check-ins are advised.

5 OVERALL STRATEGIES JOB DESIGN: Offering flexibility in job design and the way work gets done is appealing to all generations. Also, self directed work teams will encourage collaboration from all generations to work together. Create opportunities for cross-functional learning. TRAINING & DEVELOPMENT: Emphasis should be on how to create communication styles that are respectful to all generations. Accommodate different learning styles and use methods that will appeal to every generation. Training and development should be individually tailored. COMPENSATION, REWARDS & RECOGNITION: Offer flexibility and choices that best meet the expectations of each generation. Reward for collaborative activities. PERFORMANCE MANAGEMENT: 360 feedback is good for all generations. Learning about how each generation is motivated and what drives them is critical. Provide the big picture and company specific goals that need to be achieved. Assess the effectiveness of all initiatives in order to address any unresolved issues.