Human Resource class Your company has reaped the benefits of having long-term, t

Question

Human Resource class

Your company has reaped the benefits of having long-term, tenured employees, but many of them are now approaching retirement. It is anticipated that approximately 20 percent of the company's workforce will retire in the next three to five years. In reviewing the remaining workforce through HR planning efforts, you have become aware of work-life balance issues that need to be reviewed and addressed. The company president has requested that you prepare a retention plan outlining these issues as well as ways to address them. What steps will you take to identify key priorities in the work-life balance issues?

Explanation / Answer

Answer

It is not realistic to retain all the employees if the organisation, and important aspect here is to retain the most effective and talented employees who are skillful and productive. Retention plan will include the goals for retaining the employees for longer period, in this those employees who can learn from training and are talented are considered for keeping them with the organisation and employees who are near to the requirements are concern to share their expertise and experience with other employees who can learn it Faster.

Next aspect of the plan will include exit interviews to know the key issues and areas which needed to be considered from retiring employees.management support is highly required to keep the key employees and to align them towards achievement of goals of the organisation. acquiring the support of managers will help in appropriate strategy implementation. And then deciding the retention strategies involving tangible and intangible retention measures like training and development program, incentives,bonuses, etc to keep the key employees. And implementing the same to achieve the goals and finally making a retention agreement to avoid any negative situation.

* To maintain work-life balance, it is important to consider the health and requirements of the business organisation. For this it is beneficial to educate the employees regarding work-life balance so that they understand the importance of it and find out the ways to help them keep their personal and professional life at ease. It is essential to get the efficiency of work instead of more or extra work and help them avoid stress. And it is better to ask employees what they need to keep them motivated and provide them feeling of belongingness. Promoting health initiatives will help them in this and encouraging their work with rewards and recognition maintain the healthy environment.

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