Your New Priority: Retaining Project Workers
In the coming year, the U.S. economy will be experiencing increased employment and business activity. That will be good for your career, providing more projects for you, perhaps--but there will likely be challenges that will cause you to have to reprioritize what skills you employ. First, you must understand four relevant economic and demographic trends:
- Economic Trend: Lowering Unemployment/Increased Job Switching. Employment is going down and workers are increasingly leaving their current jobs for other positions. In workforce management terminology, this is known as “job switching”. Workers are tied down to jobs they cannot leave during recessions. As employment increases, so does job switching. Good if you switch to a better job; bad if your best resource switches during your project.
- Demographics Trend: Older workers are increasing as a percentage in the workforce. Generally highly productive, many are also retiring.
- Demographics Trend: Expectation of Work-Life Balance. Younger workers (the Millennial generation) generally expect that they will have flexibility in the workplace. Older workers (Boomers) find themselves sandwiched between elder care and children who need support, and they need flexibility to remain productive and avoid burnout.
- Demographics Trend:Learning & Development Expectations. Younger workers, flooding into
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