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Managing Between The Generations

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Managing Between The Generations

  1. 1. Managing Between the Generations From Baby Boomers to the Y Gen, retain and attract your diverse talent pool! October 30, 2008
  2. 2. •Provides staffing solutions and professional recruitment services •Founded in 1981, we have a 27 year history as a dynamic woman-owned & operated business •Our firm has been headquartered and focused on Rochester. We also service Syracuse and Buffalo. •Our company has grown more than 600% since 2001. The Employment Store – Who Are We?
  3. 3. • Our team employs a proprietary recruitment process in every search we conduct • Our recruitment methodology is disciplined, consistent and complete • This is our proprietary “5 Point Plan” The Employment Store – Who Are We?
  4. 4. The Employment Store – Who Are We? Some of our notable clients include: •The University of Rochester •Strong Memorial & Highland Hospitals •Rochester Institute of Technology •Paychex •Wegmans •VWR International •UCB Pharma •Inscitek Microsystems •Tyco Healthcare •1000+ other small to mid sized clients Our clients range from Fortune 100 firms to local companies with just a few employees.
  5. 5. Demographic Shift & Labor Shortage Within 10 Years
  6. 6. -5.2% 16.5% 3.3% -20.0% 10.1% 33.6% 18.3% 0.1% -20.0% -10.0% 0.0% 10.0% 20.0% 30.0% 40.0% Projected Change in Population 2000-2010 15-19 20-24 25-34 35-44 45-54 55-64 65-74 75+ How will it affect Rochester? Demographic Shift & Labor Shortage Within 10 Years
  7. 7. • Starting in 2011 the Baby Boom Generation will begin to hit retirement age • Just 7 years later (2018) GenY will account for more than 50% of the workforce • Companies will scramble to learn to communicate and attract GenY workers… we expect this period to be very competitive • By 2025 the concept of entry level, middle management and senior management will virtually disappear Demographic Shift Conclusions
  8. 8. • There are many unknowns in the future • Current economic changes as well as questionable solvency in the social security system could change the “traditional” retirement age • Could we defy the demographic trends? Demographic Shift Conclusions
  9. 9. Some Initial Thoughts •Recruiting is like fishing; you need to use the right bait •Acknowledge that you need a diverse workforce •Understand that competition for talent will increase steadily in the coming years Recruiting & Retaining Boomers, GenX and GenY
  10. 10. •Recruiting in the next 10 years will become increasing difficult •Out of the box ideas need to be investigated •Blogs •Social/Professional Networking •New Technologies •Already, traditional job boards are becoming overused therefore loosing their affect Recruiting & Retaining Boomers, GenX and GenY
  11. 11. Recruiting & Retaining Boomers, GenX and GenY • Interactive career page • Non-linear job postings • Creative succession plans • Benefits • Work/life balance • Working off-site • Team building • Training • Promote your companies “Brand” and “Mission Statement”
  12. 12. Recruiting & Retaining Boomers, GenX and GenY • Remember that job search methods and tools vary greatly between generations • It is important not to be exclusionary in your recruiting methods and tools • In a tight labor market, your candidate pool should become an asset not a burden
  13. 13. • Recognize that resume expectations will be adjusted • Interview standards will change • Expectations of dress and other traditional standards will be different Recruiting & Retaining Boomers, GenX and GenY
  14. 14. Recruiting & Retaining Boomers, GenX and GenY • Retention will be key to your success • Companies will need to “grow” their own middle management class • Generations are recruited with, but not always retained with, money alone • Think out of the box
  15. 15. Recruiting & Retaining Boomers, GenX and GenY Characteristics: GenY • Driven and college-educated • Strong desire to succeed & make and impact • Need to be mobile not at a desk • Motivated by recognition & constant feedback • Expected career path within 18- 32 months rather than 3-5 years
  16. 16. Recruiting & Retaining Boomers, GenX and GenY Characteristics: Boomers & GenX • High level of knowledge & intellectual property • Motivated by ownership • Loyal & driven by company success • Low tolerance/understanding of desired mobility & recognition of GenY • Flexible schedules
  17. 17. Opportunities and Challenges • Recognize the problems we face as a nation and specifically as a community • Embrace returning post-retirement workforce • Be creative and strategic in designing recruitment & retention solutions • Open our minds to new expectations

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