Despite dreary economic forecasts and predictions of rising unemployment, Canadian workers remain an optimistic lot.
An extensive survey of nearly 800 Canadian workers, conducted in April and May by HR consulting firm Towers Perrin, found nearly two-thirds think it would be easy to find another job and most are at least casually looking for other work.
Continued employee confidence in the midst of a stormy economic climate confirms the emergence of a new reality: employees now feel they hold the power in employment relationships, explained Claudine Kapel, a consultant with Towers Perrin.
More than 90 per cent of managers surveyed for the Towers Perrin Talent Report also said that it in recent months it hasn’t got any easier to find good people.
While a large number of workers admitted they would consider other job offers, the number looking actively was much lower at 13 per cent.
Employees recognize the value of their skills and knowledge and are looking to dictate the terms of the employment relationship, said Kapel.
“Employers can’t rely on being able to replace skilled workers easily, and in light of the survey findings, they need to scrutinize their talent management strategies,” she said.
A large number of respondents, 47 per cent, also described themselves as “balanced careerists,” meaning they place work-life balance as a top priority. Employers are going to have to get used to giving these employees benefits that will make their lives a little easier — be it concierge services or sabbaticals — or risk losing them.
That sense of self-importance among employees will likely only grow as baby boomers move into retirement, another pressing issue for HR that is approaching over the horizon.
Businesses will likely start to feel the effects of retiring baby boomers in as little as five years and some companies are starting to recognize they have to get ready now, said Kapel.
Another study of the Canadian workforce, this one by the Canadian Council on Social Development and the Columbia Foundation, also predicts Canadian companies will start to be seriously affected by retiring baby boomers by 2006.
Canadian businesses need to start looking at how prepared they are, said Sylvain Schetagne, author of the study, Building Bridges Across Generations in the Workplace.
“Hopefully, some of them will realize, ‘Whoops, wait a minute my average worker is 48’ and it may be time to plan for the future,” he added.
People have known this was coming for a long time, but many felt it was too far off to worry about. There was a sense among a lot of HR people that the surge in retirements wasn’t going to happen on their shift, said Kapel. Now, the fear is that in as little as five years firms are going to feel serious repercussions and start wondering what they should do. (For a look at retaining baby boomers see page G3 in the Guide to Recruitment and Staffing, included with this issue.)
Towers Perrin has seen an increase in requests for help structuring phased retirement programs and demographic analysis, pretty good indications organizations are starting to get ready.
As far as aging workers, there was some good news in the survey, said Kapel. Many respondents over the age of 55 said they consider themselves free agents, meaning they still want to play a productive role and make valuable contributions and are willing to do so through revamped roles. The challenge to companies will be find ways to keep them engaged.
An extensive survey of nearly 800 Canadian workers, conducted in April and May by HR consulting firm Towers Perrin, found nearly two-thirds think it would be easy to find another job and most are at least casually looking for other work.
Continued employee confidence in the midst of a stormy economic climate confirms the emergence of a new reality: employees now feel they hold the power in employment relationships, explained Claudine Kapel, a consultant with Towers Perrin.
More than 90 per cent of managers surveyed for the Towers Perrin Talent Report also said that it in recent months it hasn’t got any easier to find good people.
While a large number of workers admitted they would consider other job offers, the number looking actively was much lower at 13 per cent.
Employees recognize the value of their skills and knowledge and are looking to dictate the terms of the employment relationship, said Kapel.
“Employers can’t rely on being able to replace skilled workers easily, and in light of the survey findings, they need to scrutinize their talent management strategies,” she said.
A large number of respondents, 47 per cent, also described themselves as “balanced careerists,” meaning they place work-life balance as a top priority. Employers are going to have to get used to giving these employees benefits that will make their lives a little easier — be it concierge services or sabbaticals — or risk losing them.
That sense of self-importance among employees will likely only grow as baby boomers move into retirement, another pressing issue for HR that is approaching over the horizon.
Businesses will likely start to feel the effects of retiring baby boomers in as little as five years and some companies are starting to recognize they have to get ready now, said Kapel.
Another study of the Canadian workforce, this one by the Canadian Council on Social Development and the Columbia Foundation, also predicts Canadian companies will start to be seriously affected by retiring baby boomers by 2006.
Canadian businesses need to start looking at how prepared they are, said Sylvain Schetagne, author of the study, Building Bridges Across Generations in the Workplace.
“Hopefully, some of them will realize, ‘Whoops, wait a minute my average worker is 48’ and it may be time to plan for the future,” he added.
People have known this was coming for a long time, but many felt it was too far off to worry about. There was a sense among a lot of HR people that the surge in retirements wasn’t going to happen on their shift, said Kapel. Now, the fear is that in as little as five years firms are going to feel serious repercussions and start wondering what they should do. (For a look at retaining baby boomers see page G3 in the Guide to Recruitment and Staffing, included with this issue.)
Towers Perrin has seen an increase in requests for help structuring phased retirement programs and demographic analysis, pretty good indications organizations are starting to get ready.
As far as aging workers, there was some good news in the survey, said Kapel. Many respondents over the age of 55 said they consider themselves free agents, meaning they still want to play a productive role and make valuable contributions and are willing to do so through revamped roles. The challenge to companies will be find ways to keep them engaged.
