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Is Your Business Ready For the Future? How much wealth, happiness and peace of mind are you forfeiting because you're not attracting, developing and retaining the best talent? 83% of business owners have no formal plan for developing leaders and preparing for the future. Millennials already make up 50% of the workforce. By 2030 they'll be 75% of the workforce. Right now, there is a fierce battle to attract, develop and retain the best Millennials. 6 Facts about Millennials 1. They are not loyal to a company: If given the choice 44% would quit his or her job during the next two years. 2. 60% say their leadership skills are not being fully developed. 3. 87% say the success of a business should be measured in terms of more than just its financial performance. 4. 88% of Millennials who intend to stay with a business for more than 5 years share their organization's values and are satisfied with its sense of purpose. 5. After salary and benefits, a good work/life balance is critical to Millennials. 6. Over 80% want to have greater flexibility and start and finish work at the times they choose 7 Signs You're Losing the Talent War: 1. You have no talent source to tap into and it takes over 30 days to fill a critical position. 2. You usually have to hire from the outside because you don’t have internal candidates ready to step up. 3. You are “hiring and hoping” and don’t have confidence in the people you put in critical positions. 4. You haven't defined and communicated the purpose of your business (beyond making money) and your people (Millennials particularly) are uninspired because they can't commit to a clear and compellling higher cause 5. New hires or promotions are often unsuccessful in performing their new duties and critical positions are subject to frequent or unexpected turnover 6. “Star Performers” or “Up and Comers” routinely leave the organization to advance professionally or to achieve their career goals 7. Employees complain that promotions are not based on who is best qualified but rather on personal favoritism You need a proven, repeatable process for attracting, developing and retaining the best talent. Before you do that, your first step is to take a short assessment to discover exactly where the obstacles are that keep you from building the business of your dreams, and securing your future wealth and happiness.
Eric Anderton, Succession Planning, Exit Planning, Talent Development, Leadership Development, Strategic Planning, Construction, Engineering, Architecture, Developing Millennials, Millennials, Generational Gaps, How to bridge the generational gap, Millennials Research, Succession Planning Assessment
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