CONDUIT

Are you watching the door?

In my last post I talked about the impending war for talent. Its worth repeating: Every 10 minutes a baby boomer turns 60 and in less than 10 years 75 million will be of retirement age.

Expect ripple effects. Nope make that a tsunami. By the year 2016 there is a projected shortfall of 3 million skilled workers. Qualified middle and senior managers are expected to be in short supply.  Look at the current U.S Labor stats and you will see a disturbing trend. The unemployment rate for educated workers is 2% and expected to decline! Translated: more jobs, less people.

How do you keep precious professional resources longer? According to recent work done by Dr. Harold Stolovitch of the University of Montreal far more people leave a job because of working conditions including their perceptions on how they are treated.

Recognition goes along way in creating the desired environment and culture. Challenging yet supportive work environment are tough to leave and actually attract talent.  The best platforms clarify what is valued, set meaningful goals, support goal attainment and recognize people for their performance and contribution to the success of the team.

The team element is key. By reinforcing achievements companies communicate the importance of each member's role and celebrate their contribution creating a level of commonality across the work group.

Many factors go into switching jobs. But leaving  a job is easier if you don't believe in their direct, feel your role is not respected, or don't feel a connection with the people you work with.   

Keeping employees a few years longer

According to the U.S. Census there are an average of 7,918 people turning 60 everyday? Do any of them work for you?

It used to be fashionable to be retired. It was a reflection of stature and success to have stopped working. Now most workers approaching retirement are not at all focused on days of leisure. Retirement no longer defines slowing down as much as it signals an opportunity to recalibrate one's focus and commitment.

Many baby boomer's in their 50s and 60s see retirement as a life space that allows them to do something meaningful with their time. Translation: their current jobs don't provide that level of satisfaction. Some talk of teaching, building homes for the poor, working with the elderly, or coaching youth sports.

Smart employers are already taking steps to re-recruit aging workers with flexible work schedules, job sharing, continuing educational credits, community service support, and other elements that strengthen the practical fit between aging workers and the current employer. 

Recognition can help strengthen that emotional connection. When initiating reward programs most companies focus only on recognizing what is good for the employer; productivity, improved customer care, workplace efficiency.

But what about recognizing employees for doing what is meaningful in a broader sense? Social responsibility is getting significant attention when it comes to corporate environmental stewardship. Rightly so. But should companies incorporate their definition of social responsibility to include the micro level and in the process reward and recognize their employees who are doing "meaningful work" throughout their local communities.

I believe you will see more and more companies recognize and encourage community efforts in the future. Doing so will help companies establish a level of mutuality with all workers (not just the older ones) and establish that the values of the firm and the employee are indeed aligned. After all shared values are the bedrock for an engaged workforce.

They say that the "contract for life" is over. Maybe so. But if companies can reaffirm "a connection for life" older workers may come to realize that they don't need to retire so quickly to do something meaningful. If the company supports their efforts simply by recognizing them day-to-day they may be more likely to stay at their respective firms (contributing knowledge band wisdom) a few days and years longer.