Adapt to the shifting priorities of modern workers to attract and retain the best talent
As many employers face a coming wave of baby-boomer retirements, the resulting gaps in unique skills, experience and institutional knowledge may be difficult to fill. Keeping mature workers engaged may help ensure that your company retains the employee knowledge necessary to compete.1 Going forward, successful workplaces will not only leverage the skills and institutional knowledge of mature workers, but also ensure that the expertise mature workers possess is shared with other employees.
More than 80 percent of workers age 45 to 64 say the opportunity to learn something new is critical to them, and over 70 percent say that job training is an essential element of that ideal employment.1 Experienced workers are eager to get additional training so they can keep their skills sharp and make themselves more employable.
While large employers with abundant resources may already be providing this training, smaller companies can still manage to do this and reap the benefits. Assess your company’s existing training model and determine opportunities for bolstering your employees’ skillsets.
Highly skilled employees might be your best trainers. Ask them to pass on their skills and knowledge to others.
Don’t limit your training offerings. Host a variety of training and business building sessions and engage with your employees to find out what they like, don’t like, and what they want to learn more about.
Thanks to modern technology, there are more educational opportunities than ever before, such as online courses and tuition reimbursement programs.
Workplace flexibility is a way to attract talent because it accommodates active lifestyles and child or eldercare. One study revealed that 77 percent of millennials think that flexibility is not only desirable but also is key to productivity. The idea is also appealing to baby boomers, who are seeking flexibility as they near their retirement years.2
Employees of all ages can benefit from a sense of community in the workplace. Sharing ideas is one way to foster this feeling. Whether it’s informal with shadowing and project partnerships, or formal with mentorship and reverse mentorship programs, generational and experiential differences are a learning opportunity.
Brainstorming brings employees together to work toward a common goal by offering various perspectives and solution.
Create a reverse-mentorship program
In this program, older employees can pick up something fresh from their younger counterparts. For example, those who are less skilled at using technology might rely on another employee to teach them how to use a certain application or tool. Conversely, more experienced employees can teach younger ones how to develop business and share valuable insights.
Provide spaces that support all of the above
Employees are more likely to be happy and collaborative when they have places to meet together comfortably, participate in training or seminars, or work independently when necessary.
In the workscape of tomorrow, employees of traditional “retirement age” want more, and workplaces must adapt if they want their business to succeed. In order to retain and attract the best talent across generations, including would-be retirees, it is critical to:
People are living longer, better lives. And the happiest, most productive workplaces are those that are adapting to support these lifestyle changes.
Contact us to learn useful strategies to attract and retain top talent in this evolving workforce.
The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual
This material was prepared by Retirement Newsletter Times
Find a Location
Securities and advisory services offered through LPL Financial, a registered investment advisor. Member FINRA / SIPC. Some insurance products offered through LPL Financial or its licensed affiliates. Associated Financial Group, LLC (“AFG”), Associated Bank, N.A. (“AB”) and Associated Banc-Corp (“AB-C”) are not registered broker/dealers and are not affiliated with LPL Financial.
The LPL Financial Registered Representatives associated with this site may only discuss and/or transact securities business with residents of the following states: AZ, FL, IL, IN, KS, MI, MN, MO, NC, ND, OH, and
Insurance products are offered by licensed agents of AFG. AFG is a wholly-owned subsidiary of Associated Bank, N.A. (“AB“). AB is a wholly-owned subsidiary of Associated Banc-Corp (“AB-C“). AB-C and its subsidiaries do not provide tax, legal, or accounting advice. Please consult with your tax, legal, or accounting advisors regarding your individual situation. AFG‘s standard of care and legal duty to the insured in providing insurance products and services is to follow the instructions of the insured, in good faith.