We’ve been so micro-focused on job numbers for the past four years now — for Hartford and for the nation — that if we’re not careful, other important trends could escape our notice.
Of course, job growth deserves to be top-of-mind, and all indications point to an acceleration in 2013. With an expected job growth of 1 percent, Hartford will be on track with the rest of the state for 2013 projections.
Connecticut is expected to enjoy a slight boost over the previous year’s 0.46 percent increase with an anticipated 23,000 new jobs. Our list of growing “hot jobs” mirrors the national picture for growing occupations – these being in business and financial operations, sales, personal care and service jobs, and of course, health care-related occupations. Still, our state numbers fall slightly behind the national projections.
Here’s where it’s important to look beyond the numbers to other trends, such as those relating to workforce management. Conventional wisdom tells us that when job growth is slow, a qualified talent pool is abundant. Yet, this is not the case. And with an economy facing another year of slow growth, employers need to be more careful than ever when managing their workforce, to ensure they don’t lose their much-needed talent.
At the same time, smart employers are looking ahead at talent forecasts, and taking steps to create work environments that are attractive to a multi-generational workforce.
Can we all work together?
With later retirement ages, America’s workplaces are now facing a wider spread in the three main workforce generations – Gen Y (currently ages 19-30), Gen X (ages 31-48) and Baby Boomers (ages 49-66). With this age range comes a vast difference in communication styles, technology comfort levels, and expectations of office protocols and environment.
Proactive employers will consider how each generational group interacts with other each other, as well as with management. ‘Teambuilding’ should become more than just a group lunch date; literally building teams across generations and across cultures could optimize strategies, insights and ideas, while helping to increase productivity, efficiency and quality.
Retirement – or revolving door?
The 66-year-old Baby Boomers in the workplace are healthier and more active than in previous generations, and many have suffered a financial bruising in the past few years. As a result, some 60-somethings are hoping to defer their retirement in order to boost their retirement security.
While this may be discouraging news for the Gen X or Y’er waiting in the wings, this is good news for many HR managers who are dreading the loss of this age group’s knowledge, experience and work ethic.
This is a smart time for Connecticut business leaders to embrace flexible retention strategies being explored by many industry leaders, such as part time positions for mature workers. Retirees can also be hired (or hired back) as a consultant, a contingent or on a project basis. This flexibility allows emerging generations to have the opportunities they are hungry for, while helping companies retain – and effectively transfer – the repository of acquired knowledge held by Baby Boomers.
Examine from within to capture best workers
In this era of social media and online reviews, the true nature of a company’s culture can no longer be hidden behind a printed recruiting brochure. Once inside an organization, workers are paying attention to culture and to management style, whether or not a company has formalized these aspects of their business.
Companies seeking to hire and retain top talent from Gen X and Gen Y will do well to examine their management styles – and whether or not they have an environment of diplomacy and empowerment, which is preferred by most workers, or an authoritative environment, which is least preferred. A company’s ability to inspire employees to do their best work, and their willingness to trust an employee to be part of a collaborative environment will often help a qualified candidate decide between one offer and another.
Grow a more meaningful culture now
Celebrate the projected job growth for 2013, and be ready for even stronger numbers in the future. This is the time for businesses to lay the groundwork, and become educated on the benefits and challenges of generational diversity. Understanding the differences in values, work styles and behaviors will help companies build a more meaningful culture that will attract qualified candidates.
Employers, be ready to act and react to growing and fluctuating staffing needs. Be aware that the Baby Boomers are not the only generation seeking flexible employment situations; Gen X and Gen Y will also have mitigating circumstances that will cause them to seek out contingent or contract opportunities. Be open to the possibility that this economic lull is your chance to address some foundational ‘old school’ issues that you would tend to ignore while moving at full speed.
Job candidates: Enjoy the slight acceleration in job growth expected for 2013.
Business owners: Consider devoting 2013 to strengthening your abilities for reaching and retaining the best workers from a multi-generational candidate pool.
Eileen Candels is vice president of the Hartford area offices of Kelly Services, including Kelly Law Registry and Kelly Engineering Resources. All are part of Kelly Services, a global workforce solution provider.
