With four generations of employees in the workforce and a large number of experienced workers expected to soon retire, organizations are facing new challenges with respect to engagement and labor productivity. Each generation brings very different styles, motivations, skills, and experience levels to the workplace. One of the most challenging issues facing human resources managers today is getting younger employees ready to replace the experienced Baby Boomer generation. As massive numbers of boomers begin to retire in the next five to seven years, how can you ensure your company is ready to take on the experience gap?
To overcome these challenges, top-performing companies are making investments in employee development programs and providing individuals the opportunity to perform at their best potential. The goal of career development is to match employee goals with business needs. If managed well, development programs can both improve an employee’s current job performance and prepare him or her for future growth opportunities. It is critical for HR to help design career paths and offer programs that help employees reach their goals, keep them engaged, and ensure the organization is ready to meet business objectives.