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The Online Newsletter for Clients of Express Personnel Services. Talking About Our Generations: Part Four of Five
The January issue of e-Xchange offered a closer look at Generation X. � This month?s articles focuses on the Baby Boomers, those individuals born between 1946 to 1964. � ���Representing nearly 45% of the 2005 workforce, the Baby Boomers exert a powerful and influential force in the workplace. � In 2003, however, the Boomers began retiring at a faster pace than younger workers entered the workforce. � Their mass exodus from the workforce will cause a shortage of workers and a potential labor shortfall of 10 million workers by 2010. � Companies can take steps now to keep Boomers in the workforce longer and stem the tide of the shortfall. ���Often called the first workaholics, Baby Boomers typically embraced a live-to-work mindset in their younger years. � Yet as they reach retirement age, many are rethinking their philosophy and are placing a stronger emphasis on a work/life balance. For example, the AARP reports that 80% of Baby Boomers plan to work at least part-time during their retirement. � Employers can ease the retirement stage by offering job sharing and flexible hours. � Providing options for those who want to be semi-retired will help employers retain the wisdom and experience of the Boomers while trying to fill gaps with younger workers. � Creative suggestions include grandparent?s leave, project-based assignments or extra time off for travel. ���Part of the reason many Boomers want to delay full retirement is that they wish to be self sufficient. � They do not want to depend on others during retirement and many have not saved enough money to maintain their current lifestyle. � This motivates Boomers to seek out employers who offer quality retirement options, salaries and bonuses, stock options, investments and medical coverage. ���One-third of Boomers plan to work part-time after retirement for the sake of their interests and recreation. � This will lead some Boomers to begin second careers that relate to their hobbies. � Employers who offer part-time or short-term positions will have an advantage in recruiting members of this generation. ���With their strong work ethic, competitive nature and desire to redefine retirement, Baby Boomers will continue to impact the workforce for years to come. � For information on other generations, check out the e-Xchange archives and don?t miss the March edition of e-Xchange, available Feb. 22, featuring information on the Traditionalists, available at www.expresspros.com . �� � �� � ��
Rewarding Performance: Part Two of Two The January issue of e-Xchange discussed curbing employee entitlement by using performance evaluations to accurately assess employee performance. � This month, the impact of this strategy on productivity is explored in further detail. � To read part one, check out the January edition of e-Xchange, or the first-quarter issue of Exchange, available from your local Express office. According to Workforce Management magazine, most companies fire less than 1% of their workforce for poor work performance. � What this means is that poor performance is widely tolerated, resulting in lower productivity. � This, especially when coupled with across-the-board pay increases, gives the impression that performance doesn?t matter. � Why should an employee work late every day, strive to create more efficient working practices and take on difficult projects if they will be rewarded the same way that their co-worker who strolls in late, leaves at 4:58, slacks off on projects and misses deadlines? � Such rewards will only help retain poor performers while high performers? morale plummets and they begin searching for employment elsewhere. ����� Rewarding performance doesn?t always have to be related to pay. � High performers also desire training, challenging assignments, increased responsibility and more recognition. � The vast majority of training resources in most companies are devoted to bringing poor performers up to speed, with top performers receiving little or no training and development. � However, high-achievers often desire feedback and further development to help them grow and become even more successful at their job. � Neglecting these employees can cause them to believe they will have to find jobs elsewhere to continue to grow. � Recognition doesn?t necessarily mean a certificate at the company party or a tangible gift. Top performers often appreciate being asked for their input on projects and being a valuable part of the team. � Rewarding employees for performance rather than for simply coming to work will increase productivity and help retain the best employees. � Top performers will have an extra incentive to continue performing well and to continue growing and improving their performance. � This can also help weed out poor performers who bring down the productivity level. � Morale of top employees will increase as will their desire to be loyal to the company, and therefore less likely to be persuaded away. � These strategies can also be good tools for drawing in the best employees from other companies and recent college graduates. � Balance Work and Parenting Responsibilities
People with a passion for their work often feel guilty because they are unable to spend more time with their children, which can cause them to lose their focus at work. � They strive to be both superparent and superworker, which only results in burnout. � While there is no miracle cure for this dilemma, there are some tips for juggling work and parenting responsibilities. ���For working parents, rush hour doesn?t begin when you pull onto the highway. � Instead, it begins by rushing to get the kids dressed, fed and out the door, leaving parents feeling stressed and exhausted before they even leave the house. � When the end of the day rolls around parents sometimes spend the last hour of work worrying about cooking dinner, cleaning the house, picking up the kids and wondering what to do with the stack of projects piled on their desks. � While it sometimes seems impossible to find balance, organizing your home and work life can help you to excel at both. According to Christina Blenk, business owner and developer of WomanOwned.com, in order to achieve balance, you must first develop a plan. � Taking time to plan will prevent you from getting in a cycle of constantly rushing from activity to activity with no hope for improvement. � Creating a schedule will help keep everything organized and running smoothly. Tips for increasing productivity at home and work:
Following these tips will help you be more productive and more focused at work, allowing you to improve your performance, without sacrificing your sanity.
Employment Situation Summary United States Non-farm employment increased by 157,000 jobs in December and the unemployment rate remained steady at 5.4%. � In addition, November employment was revised from 112,000 jobs added to 137,000. Overall, 574,000 jobs were added to the economy. Major Industry Employment for December 2004 • Construction: + 7,032 • Manufacturing: + 14,400 • Retail Trade: + 15,045 • Professional & Business Services: + 16,705 • Educational & Health Services: + 17,133 • Leisure & Hospitality: + 12,399 • Government: + � 21,716 Canada Employment rose by 33,500 jobs in December with the unemployment rate decreasing slightly to 7%. Overall, 228,000 jobs were added in 2004 and the unemployment rate fell from 7.4% to 7%.
Major Industry Employment for December 2004 • Professional, Scientific and Technical: + 15,000 • Natural Resources: + 7,000 • Manufacturing: + 1,200
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e-Xchange
is a publication of Express Services, Inc., Oklahoma City, Oklahoma. Copyright
2004.
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