How to devise a Work Force strategy to

overcome the Work-Force Crisis

Sumedh Agarwal (2006H149087)

 The 3 workers cohorts
Mature Workers—Why Older Employees Are Your Biggest Untapped
Resource
The End of Retirement—How to Optimize the Services of Mature Workers

Midcareer Workers—Why the Boomer Bottleneck Disrupts Productivity

The relaunch of Careers—How to Rekindle Employees’ Passion for Work

Attitudes of Young Workers—Why the Best of the Young Keep Leaving

The Retention of Talent—How to Connect with Young Workers
 General elements of deal

20

18

16

14

12

10

0
benefits Workplace Learning Work retirement Personaly Flexible w ork 10 percent Tw o w eeks’ Societal Flexible
enjoyable package stimiulating schedule more in total add paid w elfare w orkplace
w ork compensation vacation

Young Workers Mid Carrer Workers Mature Workers

 Mature Workers

Do not overlook the leadership potential of the ‘late

boomers’

Mature wants to continually improve their skills and

stretch their talents. Turn over in this group is least so
return on investment in education is higher

Flexible work schedule always add value in case of

Mature Workers
 How to optimize service of a Mature Worker

 Implement a retiree-return program Hire retirees as

contractors, Pension and other retiree benefits are
already in place.
Engage retirees as independent consultants. Seek
retirees who can set their own working conditions and
offer equivalent services to other employers.
Invite people to continue work under revised
arrangements. Accommodate only those in-demand or
highly specialized employees,
 Mid Career Workers

 This cohort reports the highest number of hours

worked per week
 Mid Careers are idealistic and cause oriented,
they mostly enjoy work that contains a service
component and coincides with their “life
mission.”
 Midcareer workers value the security elements
most, but with the order reversed—benefits, then
retirement packages. Given their family
responsibilities, midcareers heavily weigh the
immediate benefits package
 Career Crisis Points
Career Bottle Neck Too many people competing for few
leadership positions
Work/life Tension Life sandwiched between family and
work
Burn out Find their work unexciting and repetitive.
Run low on energy and ability to cope

Career Disappointment The role they play does not matches with
what actually they want

Lengthening Horizon Disappointment that they have to work

many more years to accumulate more
wealth
Unlock Potential of Mid careers
 Recruit Reentrants : This may include people
displaced from restructuring , women returning
after raising families These people are often highly
capable and eager
 Expand Leadership Development :Extend
leadership development to people who will be
leaders within their organizations or functions, but
are not necessarily on a path to the executive suite.
 Eg Deloitte , GE
 What to remember Young Workers
Younger cohort is
 Independent, not only intellectually but also functionally, having
“grown up fast” and managed themselves from a relatively young
age.
 Situational more than structured, and so they feel free to ignore
policies and procedures that they find restrictive.
 “Digital” in how they process information and communicate, and
sometimes digital at the expense of interpersonal (by their parents’
definition of the word, anyway).
 Diverse and comfortable with diversity, so that one-size-fits-all
policies and management methods will likely alienate significant
numbers of them.
 They want to believe in their employers but fundamentally distrust
corporations and senior management
How to retain youth
 Focus on Day one
 Talking with young workers is important
 Make line manager responsible for retention
 Make their return Easy
 Form an Alumni Association
Concluding thoughts
 Human capital is the ultimate business asset &
The best source of skilled labor is often people
you already know ……………..