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ERNIE, please use the form on the
linked page. Assuming that the retirement age doesn't change, we are facing a
shortage of nearly 40 Million workers in the economy over the next 15
years. That is just the number required to replace the retiring baby
boomers. Even at a meager 2% growth rate (which we seem to be viewing as a
massive economic slowdown), the economy needs to produce an additional 2.5
Million workers per year.
We're losing physical bodies and making requirements for more of them.
See the disconnect?
Yet, retention programs still tend to take the "Rah, Rah", monolithic
approach. Scared of looming ageism lawsuits, some of the largest companies
in the country (they're the ones with the biggest problem) are stuck in
the past pushing retention programs that equip the so called "best and
brightest" with fattened resumes and an even earlier opportunity to jump
ship. Innovation in the thinking about retention seems to be evolving even
more slowly that other HR practices.
From our perspective, retention is what you call recruiting when you do
it for current employees, It's the re-recruiting process a manager goes
through once she understands that the business drives home each night and
that you're fortunate when they come back. It requires tailoring of the
employment contract with each individual in consideration of
circumstances. It focuses on performance, not entitlement, seniority or
political structure. In order to effectively retain and grow a workforce, one thing has to
be abundantly clear. The people you wish would stay are the ones who are
going to leave. Like sediment in a river, time brings a natural
accumulation of people who don't fit the retention profile of "best and
brightest". This has been the essential management frustration since
people began writing and talking about management. After this simple principle is understood, the hard work can begin.
Workforces are composed of different groups of people who share
interests, ambitions, desires and motivations. These groups may or may not
break along traditional ethnic and gender lines. They probably don't. The
job of a retention program is to build on a clear understanding of the
internal market segments of the company.
Interestingly, this is the basic work required for effective
replacement and growth of that same workforce.
Like them or not, the current workforce is the model (without heroic
effort) of the larger workforce. Retention that focuses only on the young,
the best or the brightest does so at great peril.
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