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Diploma in Business (Human Resources) Course No.: 9795 Manage Industrial Relations Initiatives

Diploma in Business (Human Resources) Course No.: 9795 Manage Industrial Relations Initiatives BSBHR512A. Teacher: Robyn Ford Due Date: 8 May 2008 Student: Sue Heald. Overview of Recruitment & Retention. Generational differences Generational diversity Future population growth

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Diploma in Business (Human Resources) Course No.: 9795 Manage Industrial Relations Initiatives

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  1. Diploma in Business (Human Resources) Course No.: 9795 Manage Industrial Relations Initiatives BSBHR512A Teacher: Robyn Ford Due Date: 8 May 2008 Student: Sue Heald

  2. Overview of Recruitment & Retention Generational differences Generational diversity Future population growth Implications Strategies

  3. Characteristics of the Generations Baby Boomers (Born 1946 – 1964) ♦ By population the largest generation in history ♦ Open minded & rebellious in their youth, but conservative in their 30’s & 40’s ♦ Optimistic, ambitious, loyal, believed employment was “for life” ♦ Job Status & symbols important ♦ Talk about ‘inclusive’ leadership, but often do not have the required skills, or believe in it ♦ Created the concepts of the “workaholic” & “Superwoman” Veterans or Builders (born prior to 1946) ♦ Grew up during wartime ♦ Tend to be disciplined, respect law & order, like consistency ♦ Not comfortable with change ♦ Directive, command & control management style ♦ Fixed views on the role of each gender

  4. Generation X (Born 1965 – 1979) ♦ Often had both parents working - known as ‘latchkey kids’ ♦ More resourceful, individualistic, self reliant & skeptical of authority ♦ Focus in the workplace on relationships, outcomes, their rights & skills ♦ Not interested in long-term careers, corporate loyalty or status symbols ♦ Easy to recruit, hard to retain ♦ Will have >3 careers, >12 employers, self employed at least once Generation Y (Born from 1980) ♦ Also known as the Millennium or NetGeneration ♦ Similar values to Veterans – optimistic, confident, sociable, strong morals & sense of civic duty ♦ Comfortable with peers of differing ethnicity & opposite gender ♦ Women & men will expect greater workplace flexibility ♦ Think DIFFERENTLY to any other members of the workforce ♦ Will have >5 careers, >29 employers, self employed >1 ♦ More than 50,000 small & medium enterprises in 2004 owned & run by Gen Y Motivating & Managing Different Generations at Work, AH Revelations Pty Ltd, 2006

  5. Differences between the Generations Generation Y: Thriving and Surviving with Generation Y at Work, Peter Sheahan, Hardie Grant Books, 2005

  6. Generation Specific Communication Preferences Generation X ♦ Tell them what needs to be done, but not how ♦ Give multiple tasks, but allow them to set priorities ♦ Ask for their reactions & opinions ♦ Informal recognition e.g. days off Motivating & Managing Different Generations at Work, AH Revelations Pty Ltd, 2006

  7. Generation Specific Motivators Generation X ♦ Effective leadership ♦ Regular honest feedback, & coaching ♦ Managers who lead by example ♦ Opportunities to learn new skills ♦ Work / life balance Motivating & Managing Different Generations at Work, AH Revelations Pty Ltd, 2006

  8. Australia, Rest of State: Age-Sex Structure of the Population, 2004 & 2031Source: ABS 2005 Projections, Series B

  9. Australia: Projected Population Growth, 2004-11 (Percent p.a)Source: ABS Population Trends in Regional Australia, Graham Hugo, Professor of Geography and Director of the National Centre for Social Applications of GIS, The University of Adelaide, 27 July 2007

  10. “Generational” Diversity ♦ Up to 4 Generations in an organisation at present: Veterans, Baby Boomers, Gen X & Gen Y ♦ Each generation has its own distinct set of values, view of family, work / life balance, career, training & development, loyalty, & expectations of leaders & the work environment The “War for Talent” • ♦ The New War for Talent = How will we get enough people to do the work? • ♦ Need to ask Three Key Questions: • 􀂙 Who is currently in our organisation? (RETENTION) • 􀂙 Who do you want to ATTRACT to your organisation? • 􀂙 What motivates them? (ATTRACTION & RETENTION)

  11. Today’s labour environment – a snapshot • Slowing growth of labour supply across developed countries • Increasing competition, particularly for young skilled workers • Globalisation of labour broadening the geographic reach of competitors • Redistribution of labour from younger to older age groups • Continuing low levels of employment participation of men in the 55 to 64 age group • Peak in the participation of women at 24 years. • Fastest growth in employment participation amongst women aged 50 years & over • Unprecedented loss of work force numbers as baby boomers retire • Market conditions driving different behaviours amongst younger workers Beyond the Generation View, Ernst & Young Australia, 2007

  12. Implications for Australian Workplaces • What do companies need to do to attract, manage & retain Generation X & Generation Y? • ♦ Develop Learning Organisations • 􀂙 Engage people in goal setting • 􀂙 Personal development plans • 􀂙 Access to subscriptions & web based learning • ♦ Cater to a mobile population • 􀂙 Jobs in different offices/locations • 􀂙 Lateral moves to different departments • ♦ Job Redesign • 􀂙 More ‘fluid’ flexible job descriptions

  13. ♦ Coach less experienced employees • 􀂙 Generation X thrive with frequent guidance/coaching • 􀂙 Generation Y respect ‘Veterans’ – they want to learn from their life experiences & their wisdom • ♦ Educate Leaders • 􀂙 Leaders MUST ‘walk the talk’ • 􀂙 Generation X & Y will not tolerate inauthentic leadership • 􀂙 Enable work / life balance • ♦ Enable Greater Flexibility • 􀂙 Flexibility = flexible hours & flexible work arrangements • 􀂙 Flexibility ≠ part time hours or arrangements in the traditional sense • ♦ Create More Inclusive, Collaborative Work Environments • 􀂙 The current leadership model of “command & control” needs to change to a model of “inclusion & collaboration” • 􀂙 Managers & leaders need to listen more, direct less & tell less Motivating & Managing Different Generations at Work, AH Revelations Pty Ltd, 2006

  14. Gen Y gets it right as big business downgrades long service Major companies no longer value long service by their workers. The poll of 32 national & international firms found that when defining a high-performing worker, 69% rated “length of service” as least important or not even applicable. Jeremy Tipper, business development director of recruitment firm Alexander Mann Solutions, stated “if you turn the clock back 10 or 15 years, length of service would have been seen as a significant attribute of high performance… The reason for that is they had a great deal of knowledge… about the organisation & a good understanding of what’s happening in the marketplace… Today, because information is so much more freely available because of technology, that “information is power” probably doesn’t exist to the same extent.” Mr Tipper said, “the perspective of Gen Y is you are much better off with a variety of different experiences…” CCH, Gen Y gets it right… Danny Rose, 15 April 2008

  15. Current Research of Staff Turnover • Previous research suggested the average general rate of staff turnover in large Australian companies is 12.6%. • HRPulse survey suggests calculated average of 17.4% in organisations with 1000+ employees & an average of 18.5% across all organisations. • Length of time staying with organisation is decreasing & stands at an average of 4 years with 75% of respondents expecting most employees to stay for less than 5 years • 80% of respondents agree retention was a negative effect on organisation effectiveness & financial performance • 2007 survey by Vedior Asia Pacific Employment Trends claims 150% of employee’s salary is required to replace a skilled position. AHRI HRPulse, 2008, “Love ‘Em Don’t Lose ‘Em” – Identifying Retention Strategies That Work, Australian Human Resources Institute

  16. In 2008 sourcing the right candidate more than doubled from 32 – 69% as the No. 1 area of difficulty faced by organisations, according to the latest Vedior Asia Pacific Employment survey Vedior Asia Pacific Employment Trends Survey 2008

  17. Why People Leave HRPulse respondents were asked to identify what they believed were the 3 most common reasons for staff departures from a selection list of thirteen. A recent survey by TalentDream in the UK asked the same questions, using the first 12 factors. The comparative findings are set out in Table 8 on the following page The HRPulse survey looked at a thirteenth factor of poor social responsibility practices of employers which revealed a low rating in the order of 1%. The ranking of factors by respondents to the AHRI’s survey suggest that poor promotion opportunities is the biggest single factor, followed closely by inadequate pay with poor manager relations in 3rd position. The order of ranking is consistent in both surveys though the numbers vary somewhat in the case of the 1st & 3rd factors.

  18. AHRI HRPulse: “Love ‘Em Don’t Lose ‘Em” – Identifying Retention Strategies That Work, Australian Human Resources Institute 2008

  19. Retention Retention is not a Generational thing, it is an everybody thing. In a 2003 study by International Management Consultancy Booz Allen & Hamilton, 22% of Australian companies surveyed had replaced their CEO in the previous 12 months. The average tenure at that time was 4.4 years, down from 5.8 in 2001. An online poll conducted by www.seek.com showed that 96% of responders said they would leave their current position if a better offer came along. Retention is about good management aligned with outstanding leadership. In the seek poll mentioned above, 60% of respondents sited “management” when asked what they hated about their job. Employee retention rates are a reflection of how valued staff feel in their position, including variety, fun & flexibility. A Genesys study of 28,000 call centre employees showed 64% nominated “lack of career opportunities” causing job dissatisfaction as number one. As long as you are enhancing the employability of Generation Y staff, they will stay. Generation Y: Thriving and Surviving with Generation Y at Work, Peter Sheahan, Hardie Grant Books, 2005

  20. Keys to Retaining Generation Y • Flexibility • Active career management & planning for staff • Streamlined recruiting processes • Reward & acknowledge talent • Have clear objectives • Coaching & mentoring by someone other than the Manager, can help with managing confusion • Get rid of the bad, they are poisonous to the organisation • Communication • Good Selection = Good Retention Generation Y: Thriving and Surviving with Generation Y at Work, Peter Sheahan, Hardie Grant Books, 2005

  21. Interventions AHRI HRPulse: “Love ‘Em Don’t Lose ‘Em” – Identifying Retention Strategies That Work, Australian Human Resources Institute 2008

  22. Best Australian Employers: Hewitt Associates Surveys 2000 – 2004 Surveys ♦ Excellence in Leadership ♦ Focus on performance & results, & have a formal performance management structure ♦ Performance-based rewards & recognition systems ♦ Employees feel they are making a difference, & are acknowledged for their contribution ♦ Invest in the accelerated development of employees ♦ Lines of communication are always open ♦ High levels of employee engagement ♦ Competitive remuneration ♦ Strive for Work / life balance Motivating & Managing Different Generations at Work, AH Revelations Pty Ltd, 2006

  23. Tactical moves to retain staff • Workforce planning allows for job diversity, rotation & possibility for new challenges • Promotional opportunities should be readily made apparent to staff • Ways to resolve issues between employees & supervisors need to be open & accessible • Ensure staff have opportunity to mix adequate family & social life with work demands • Be careful to avoid making grandiose promises having little chance of being kept • Communicate through Management what purpose of organisation is & if achieving its vision & mission • Contributions to the larger society in which it operates should be communicated internally • Working conditions to be periodically reviewed & improvements made where required • When staff leave, the reasons for departure should be methodically sought & system for collecting, analysing & acting on feedback to be established. • Put effort into recruiting suitable people for skills sets involved in the role as well as organisation culture • Systematically induct new recruits, include expectations of product knowledge, customer relations, internal reporting requirements & staff behaviour • Communicate clear lines of responsibility & accountability, provide training & establish career development plans supported by sound performance management systems • Provide mechanisms to regularly monitor staff engagement & job satisfaction, make adjustments as required • Employees’ pay needs reviewed at specified intervals & adjustments made in accordance with the contribution staff member is making • Incentives & reward programs adopted going beyond financial rewards • Strong leadership & management capability should be developed throughout organisation AHRI HRPulse: “Love ‘Em Don’t Lose ‘Em” – Identifying Retention Strategies That Work, Australian Human Resources Institute 2008

  24. Generational Quotes Teenagers in the last 100 years have all been rebellious & all have differed from their parents’ generation. The idea that Generation Y are similar to their Baby Boomer counterparts at the same age is a myth. According to research by CPA Australia, 48% of Gen Y do not believe home ownership will be achievable for them in their lifetime, thereby denying the “Australian Dream”. Generation Y: Thriving and Surviving with Generation Y at Work, Peter Sheahan, Hardie Grant Books, 2005 In this climate, the very traits that were once so valued in workers — uniformity in skills & outlook, deference to authority, unthinking acceptance of the status quo — have become a liability. Instead, success comes from leveraging an organization’s intellectual capital: the expertise, creativity, entrepreneurial energy, & resourcefulness of a diverse workforce. A New Business Imperative: Managing the 21st Century Workforce, Kronos, 2005 The ‘generation view’, which segments today’s workforce into ‘baby boomers’ & generations X & Y, proposes that timing of birth significantly determines individuals’ characteristics across social, demographic & geographic boundaries. This view does not change frame over life course but remains static in the face of the extraordinary change that individuals experience across all facets of their life time. Beyond the Generation View, Ernst & Young Australia, 2007

  25. Bibliography • AH Revelations Pty Ltd, 2006, Motivating & Managing Different Generations at Work • AHRI HRPulse, 2008, “Love ‘Em Don’t Lose ‘Em” – Identifying Retention Strategies That Work, Australian Human Resources Institute • CCH, Gen Y gets it right… Danny Rose, 15 April 2008 (email, 15/4/2008) • Ernst & Young Australia, 2007, Beyond the Generation View • Graham Hugo, Professor of Geography and Director of the National Centre for Social Applications of GIS, 27 July 2007, Population Trends in Regional Australia, The University of Adelaide • Kronos, 2005, A New Business Imperative: Managing the 21st Century Workforce • Peter Sheahan, 2005, Generation Y: Thriving and Surviving with Generation Y at Work, Hardie Grant Books • Vedior Asia Pacific, 2008, Employment Trends Survey http://www.vedior.com.au/page/media_release?id=159 (accessed 22/4/2008) Grateful thanks to Rachael Heald, HR Manager, Ernst & Young for providing many of the pdf documents mentioned in this document. CCH, Gen Y gets it right… Danny Rose, 15 April 2008

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