Danger Ahead

March 15, 2012

There trouble on the horizon.  As the economy beings its slow trek in the right direction, multiple phenomena’s are beginning to occur simultaneously:  Job dissatisfaction is high – many people took, what they consider to be, jobs which are below them and are actively looking to leave.  Baby boomers are retiring at about 10,000 a day – this was slowed down with the economic troubles – but as things improve we can realistically expect the pace to increase.  In the spirit of being lean, and dealing with an unpredictable economy, organizations have been keeping their salaries static and not investing in their people as much as they used to.    What this implies is that retention is going to become a major challenge across the board going forward.

In an ideas based economy it has been suggested that up to 80% of an organizations value is in its people and talent.  My guess would be that smart organizations are watching this trend and will be enacting some measures to make sure their top performers stay put.  To further add into the trouble companies are rating that a high number of recent college grads do not have the skills required to get ahead in this new economy.

What can you do to hold on to your top talent and make sure you are positioned to entice the future “All Stars”? 

A war for talent has already begun and it is time to start thinking about your employees work experiences – are they engaged? happy? performing at high levels? One method consistently proven to reduce attrition is to invest in performance enhancing development programs.  Not only do you increase the value of working for your company but you increase the skills of your workforce at the same time.  I foresee a lot of companies moving this direction and finding the right programs and development professionals is not easy –

This is why we exist here at Invista Performance Solutions.  As this perfect storm of human capital management begins; shoot us a note – we would love to come to you and see if we can help.