Posts Tagged Research

Global issues and updates

Ageing Workforce News is a website you may wish to take a look at to stay informed on what is happening here and around the Globe.  You can also subscribe for a monthly email update.

We hope you find this useful in keeping updated on global ageing workforce issues!

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Winning ways for knowledge loss: three questions you need to ask.

Last month we surveyed our SageCentre community (an online ageing workforce resource) about their three top concerns regarding the impact of an ageing workforce.
•    75% nominated knowledge loss
•    48% nominated skills gap
•    28% nominated lack of expertise in mission critical roles

When asked about the most successful age management solutions they had experienced, only 25% nominated a knowledge transfer solution.

My hunch is that so little is done because we are overwhelmed by the task. Here are three questions to help you focus your knowledge continuity efforts.

1 What do we need to know?
Think about what knowledge and skills are core to your business – now and in the future. Start with your critical areas and work outwards.
2 Who knows what we need to know?
There are people in your organisation who know a lot. We call them Sages. You can call them anything you like as long as it’s respectful! They are your living, walking, breathing database of corporate knowledge. Do you know who they are? Make sure you know who they are and keep them close! Do what you can to influence their late career decisions and explore how they might continue a relationship with your organisation beyond traditional retirement.
3 Who needs to know what they know?
Whether it be through the more formal processes of talent management and succession planning or the natural result of working together, you will identify people who need to ‘sit at the feet’ of your sages. Create opportunities for them to have conversations and begin transitioning knowledge.
Knowledge is slippery. There is no sure fire way to keep it, capture it or ensure access to it. What we do know from our knowledge continuity programs is that solutions emerge once you start the conversation.

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GFC only a slight reprieve

SageCo’s recent survey about the impact of the GFC on retirement and working intentions get’s some coverage in HC Magazine.

Anecdotal evidence to suggest that mature workers would hang on to their jobs and defer their retirement plans has been supported by results of a survey by ageing workforce specialists, SageCo.

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The Generation Myth

Some interesting research from AIM SA regarding the Generation Gap Myth. I’ve never felt comfortable with ‘generation gap’ as a reason for team or workplace dysfunction;  it’s more a conversation gap than a generation gap. The finding that ‘similar work ethics are at the core of a strong workplace’ particuarly resonates with me.

What are the key messages for employers?

1. Not all employees are the same, yet it’s not about age
The generation gap does not exist in the workplace as far as this research is concerned. Many respondents were even angry at an insinuation of an age difference. There are four unique segments of employees, yet age and other demographics are of little, if any, relevance. While the four segments revealed are very interesting in terms of unique psychographics and attitudes, they are compiled of people with diverse demographics. Similar work ethics are at the core of a strong workplace.
2. Management should stop shifting the blame
The 2007 research (of Gen X / GenY) concluded that “management needs to take a long hard look at themselves” and that “attempting to shift the blame is viewed as unacceptable”. A consistent response emerged in 2009. While other factors may come in to play, the single biggest reason for staff departures from an employer was poor management. Universally across all segments, a respectful and trustworthy management were demanded in addition to a reasonable standard of output and workload.
3. Communication with staff is a weakness
Only second to strong management was the need for good staff communication. This was viewed as essential across all employees, yet typically a weakness across the research. Even the happy and loyal staff often viewed communication with staff as a weakness. At times they were not kept informed of what was occurring and other times considered the lack of
communication linked to disrespect.
4. Job satisfaction does not equal loyalty
Even the happiest staff are not necessarily loyal. There is little difference between age groups and segments of employees with regard to loyalty. While 87% of employees are happy, 64% are likely to be with the same employer in three years. Consistent with the 2007 research amongst Gen X and Y staff, the 2009 research of all employees revealed only around 5-10% of employees as extremely happy and extremely likely to be with the same employer in three years. In saying this, it does appear that staff aged 40-59 are slightly more loyal. Staff aged 60+ appear to be the least loyal, although this could at least partly be attributed to a lower level of perceived job security and retirement plans.
5. Older staff are not that different
Staff aged 60+ appear to be the least loyal, although this could at least partly be attributed to a lower level of perceived job security. Most have an enthusiastic attitude to work and are
not dissimilar to younger employees. They are often seeking professional development and challenges as are other employees. For many, they now have an invigorated relationship to work and may be seeking a second, third or subsequent career change. There is generally an eagerness to work within a team of differing ages. They prefer managers aged 38-60.

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