Think about the figures – over the next 19 years, about 10,000 people each day will enter the official retirement age of 65, according to the Pew Research Center. Nevertheless, your staff is getting older and you need to prepare for a new generation in your workforce. What does this mean for your company?
What Will Change?
There are likely to be a number of changes evident over the coming years. There is likely to be a shortage of some qualified workers, for example. Yes, unemployment figures remain very high, but with your older generation retiring, few young people will have the experience and know-how to help you to fill those gaps. You’ll need to get their training up to speed.
A secondary change will be those new workers themselves. It’s a different world today than it used to be. These workers:
- Expect and need constant and ongoing feedback.
- Prefer instant gratification.
- Enjoy casual dress and attire so employees can be themselves.
- Provide more flexibility with scheduling and are flexible in where they work.
- Value the importance of work sometimes more than the pay or the benefits.
It’s going to take some changes on your part as a manager in this field. With shorter attention spans and more desire to be themselves, you’ll need to find new ways to reach this group.
What to Do Now
Managers can do many things today to ensure that their staff fits the mold when the time comes. What can you do to ensure that this transition is a smooth one?
- Do a demographic risk-analysis of the current team. What does the team lack? What are the ages and talents of various team members currently?
- Put in place, and then accelerate, training as well as transition planning. Even if you have a yearly process of assessing talent and creating some type of succession plan, don’t put it off. It’s important to put plans in place sooner rather than later.
- Create an environment for success. It’s also necessary to put in place a plan that will build on the environment to make it more accepting to new works. This may include adjusting to flexible work schedules, engagement of talent and even making the job more enjoyable. These are traits the new recruits are waiting and watching for.
When it comes down to it, the Baby Boomer generation is here and knocking on the door to retirement. With those farewell parties will come big changes to any business. The question is, do you have the right game plan in place to accommodate the new generation? If not, it may be time to focus on making some changes to encourage this. Otherwise, you may be caught with less talent and an environment that doesn’t conform to the needs of your younger staff.
Advance Staffing Solutions can support your recruitment strategy as you begin to plan for workforce aging out. Consider the benefits of working with a quality temporary staffing agency in the Michigan area now.