Is Your Business Ready for the X’ers?

–submitted by Donna Hurd; photo by John Bonsett-Veal

Debbie Seeger, (pictured here with club president Ellsworth Brown) in her presentation entitled “Shift Happens,” provided a futuristic view of the incoming workforce, the ensuing competition to attract and retain talent, and how to prepare for the inevitable.

By the numbers: Baby Boomers represent one of the largest generations in history (78 million) and we are aging.  The succeeding generation, Gen X, represents just over half of the baby boomer population.  Clearly, the laws of supply and demand indicate the supply of available workers will not sufficiently meet the potential demand of employers.  The repercussions of poor planning or absence of planning will prove detrimental to a business’s viability.  Defining the gaps in knowledge with the loss of boomers will be an integral part of assessing the needs of the business in its attempt to successfully move from one generation of workers to the next.

Technologically astute, this up and coming generation knows what they want and are not afraid to ask for it.  Unlike their predecessors, X’ers will continue to seek employment opportunities that align with the way they want to work and value their contributions.  Blind loyalty will not be afforded to businesses that have not done their homework.  Understanding what motivates this group is integral to drawing, engaging and retaining this talent.  Enticing this limited resource with money only will prove to be a losing strategy.  Emotional compensation (the feeling of being valued) has to be part of the package.  Determining the right blend of financial and emotional compensation will be a recipe for success for both employer and employee.

Aligning their mission, vision, and values with their recruitment, development and retention strategies businesses are sure to have an advantage over those that do not.  Trust is the foundation that will support the shifting paradigm in order to engender loyalty from the incoming talent pool.

CLICK to watch the video on our club’s YouTube channel.