Leadership Growth Getting a Red Flag Warning on a Global Level
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SHL Study Reveals US Companies Require Talent Measurement Overhaul to Address Generational Diversity Issues Impacting the Workplace
With Company Loyalty Slipping 30% from Boomers to Millennials, Understanding Motivational Differences Between Age Groups is Now Critical to Corporate Survival
Based on a sample size of more than 1.12 million people across 200 countries
“Sustaining career progression is the singular challenge facing organizations today. Companies need to develop a plan to energize and retain talent that takes into account the diverse interests of varied generational groups in today’s workforce – Boomers, Gen Xers and Millennials,” explained Eugene Burke, Chief Science & Analytics Officer, SHL.
“If they don’t, they risk fracturing the knowledge transfer from incumbent leadership to new leadership, and falling short on the ROI of their talent programs over time as retention withers among top performers.”
Diminishing Traits in Younger Workers
While Boomers are motivated most by reward and recognition, Millennials are driven by progression and personal growth.
The study also shows negligible
In further examining the workforce, the study finds that 1 in 11 Millennials exhibit “leadership potential,” compared to 1 in 13 Gen Exers and only 1 in 16 Baby Boomers.
Understandig the Differences Critical
With work becoming more complex, matrixed, and collaborative, the profile of a successful leader has changed in more than 89% of organizations, according to CEB, SHL’s parent company.
In order to have effective leaders in place for tomorrow, organizations must
Understanding generational differences when it comes to job motivation and career development is essential to the success of this plan.
“It is critical that managers, despite the affinity towards their own generational group, identify and fully understand the differences between the age groups within the context of their workplace,” added Burke.
“Designing and deploying the right talent measurement program can ensure that organizations stay on track, balancing the need to manage for generational motivation and performance today, with the need to identify and groom leaders for succession tomorrow.
“Their corporate survival just might depend on it.”
To find out more about SHL’s Landscape of Diversity study and download your free copy of the SHL Talent Report visit: http://www.shl.com/us/forms/content/the-shl-talent-report
What Are Your Thoughts??
✔ With a shrinking workforce, how things used to get done will no longer work effectively — what changes is your company making now in preparation for the coming changes?
✔ Given the moving landscape and the demographics throwing a different kind of curve ball, do you believe we may need to learn how to hold the bat differently (metaphorically speaking)?
✔ What additional thoughts do you have about this? What else would you want The HRIS World to focus on in future articles?
Please share your thoughts with our audience in the comments section below!
Within the decade, as the massive boomer generation begins to retire and fewer skilled workers are available to replace them, companies in industrialised markets will face a labour shortage and brain drain of dramatic proportions.
Ken Dychtwald, Tamara Erickson, and Robert Morison argue that companies ignore these shifts at great peril.
Survival will depend on redefining retirement and transforming management and human resource practices to attract, accommodate, and retain workers of all ages and backgrounds.
Based on decades of groundbreaking research and study, the authors present innovative and actionable management techniques for leveraging the knowledge of mature workers, reengaging disillusioned mid-career workers, and attracting and retaining talented younger workers.
This timely book will help organisations sustain their competitive edge in tomorrow’s inevitably tighter labour markets.
(Publication Date: April 4, 2006)
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About the Book Author
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About SHL – People intelligence. Business results.
SHL is the leader in talent measurement solutions, driving better business results for clients through superior people intelligence and decisions – from hiring and recruiting, to employee development and succession planning. With a presence in over 50 countries, SHL delivers more than 30 million assessments annually in over 30 languages – allowing over 10,000 business customers to benefit from both global expertise and local insight. Along with its world-class consulting practices and 24-hour support center, SHL clients can access over 1,000 assessments through an easy-to-use technology platform. SHL was acquired in 2012 by CEB, the leading member-based advisory company. By combining the best practices of thousands of member companies with advanced research methodologies and human capital analytics, CEB equips senior leaders and their teams with insight and actionable solutions to transform operations. Headquartered in London, UK, SHL has offices in North and South America, Europe, the Middle East, Africa, Asia and Australia/New Zealand. For more information, visit www.shl.com.
Jessica Torchia, Resound Marketing, +1-609-279-0050 x103, [email protected]
Web Site : http://www.shl.com
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