To remain competitive hold on to your employees from all four generations
Stress for Success
May 2, 2006



Most forecasts regarding the future of the American workforce predict a severe skilled-labor shortage. You’ve heard the numbers by now: 76 million Baby Boomers retiring with only 51 million Xers to take their place. (Followed by the very large Generation Y.) Justin Heet, a research fellow at the Hudson Institute said, "(By) 2011, when Boomers begin to retire, we'll start to notice the tightness in the labor markets, and that's likely to become a pretty perpetual condition from here on out.”

Others say this is a myth because:

• People are working longer; AARP reports that 80% of Baby Boomers surveyed plan to work well into their 70s
• The number of Generation X college graduates compares favorably to Boomers
• Productivity increases historically have compensated for labor shortages
• Jobs will continue to be shipped overseas

These critics, however, suggest the same solutions as those who believe in the looming skilled-worker shortage: invest in the right technologies and retain older workers.

Time will tell how accurate the projections are. Hiring is a challenge right now, not to mention what it will be like in the future. Assume that as the workforce shrinks, recruitment and retention will become more critical to every organization's success. With Baby Boomers retiring to Florida we should have a large supply of those who want to work at least part-time.

To make your organization attractive you must look through each generation’s eyes to understand what motivates them to work for you. Then customize your approach to pretty much everything like Ernst & Young has. Their retention rates are at historic highs because they embrace flexibility for employees at all levels.

All generations are motivated by flexibility, so consider:

• Compressed workweek: 4,10-hour-days/week vs. the traditional five-day workweek to provide flexibility for personal/family responsibilities and to save on childcare and commute costs
• Flexible start and stop times that allow parents to drop off kids at school or to avoid rush-hour traffic
• Job-sharing is popular with some parents as well as with Boomers
• Working at home: telecommuting is growing in popularity, especially with today's gas prices. In 1999, only 18 of Fortune’s best companies to work for offered telecommuting. Today, 79 do.
• Vacation by the hour: this is especially good for hourly employees and for small businesses. Vacation time becomes a debit account to be deducted from so employees can also take care of personal responsibilities as needed. For example you could deduct 3 hours to take a child to a doctor's appointment and then return to work.
• Turn unused sick days into available hours to use for non-work responsibilities. Or, instead of sick days offer personal days to use as employees see fit, which appeals to Gen Xers who bristle at too much supervision of anything they do.
• Tailor your management style considering information from When Generations Collide, by Lancaster and Stillman:
√ “Veterans believe in the chain of command.
√ Boomers want to change command.
√ Gen Xers want self-command.
√ Gen Yers don’t want command, they want collaboration.”
• Supervisory training: you can’t afford supervisors with high staff turnover. Either train them in how to keep employees or replace them with supervisors who can.
• Elder-care education and benefits for Boomer caregivers
• Concierge services: long offered to executives, they help employees feel balanced, satisfied and appreciated; services like carry-out dinners sold at work, on-site laundry, etc.

There are so many ideas that can help you recruit and retain the best. What can you offer employees? If you don't know, ask them. Research your competitors to see what accommodations they’re making. Start small if you like by making changes on a trial vs. a permanent basis.

Look through each generation’s eyes and tailor what you offer to meet their needs. The sooner you start the fewer staffing problems you'll have.

Jacquelyn Ferguson, M. S., of InterAction Associates, is a trainer and a Stress Coach in Lee County. E-mail her at www.jackieferguson.com or call 239-693-8111 for information about her workshops on this and other topics. Register for her open enrollment seminar on June 9 at FGCU, Bridging the Generation Gap (590-7815).