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EE’s quit to seek relationships, balance and mission

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In the “talent war” discussion, there is now even more room for concern. While we have always realized that growing retiree populations were decreasing the availability of senior talent, the development of young talent seems to be at risk as well. If younger employees are culturally resisting engagement (paritally defined as a willingness to allocate a discretionary hour beyond normal hoursI got this from Ulrich somewhere) then the development of new talent becomes more difficult.

I found this study that details some key talent findings from late 2005.Met Life Inc. 2006. “The Met Life Study Of Employee Benefit Trends.” Retrieved from http://whymetlife.com on February 7, 2006.

Young Employees – Willing to Work Hard … but Balance is Key

Gone are the days when new, entry-level employees viewed long hours and seven-day-work-weeks as the price of admission to the executive suite. Among the youngest employees surveyed (age 21 – 30), work/life balance was cited as the most important consideration when deciding whether to join/remain with an employer (57%), even more important than the opportunity for financial growth and advancement (53%) and skill building and professional growth (48%).

Pre-Retirees, in Particular, Focus on Company Mission

While more than half of all employees (54%) report that “working for an organization whose mission/purpose they agree with” is a top consideration, the percentage rises to 66% for Pre-retirees age 61- 69. “As the workforce ages and employers struggle to keep key knowledge-workers productive and engaged beyond traditional retirement age, company mission/purpose is becoming increasingly important,” notes Morris. “In the employee benefits arena, workers of all ages want access to work arrangements that align with their personal priorities and benefits that help them protect their families.”Retrieved from http://www.e-topics.com

I’m really quite interested in the idea that both younger employees and pre-retiree populations are focused on mission, but there really is no citation for mid-career professionals. It seems to make sense that the upcoming Generation Y (perhaps a U.S. term for 20 year olds) is very committed to personal time in a way previous generations were not. I would guess that greater mobility and marketing for liesure activities may be influencing the willingness of talent to sacrifice their lives to work.

I suppose it’s fairly expected that pre-retiree workers begin to be more engaged in company purpose and mission than they were in their younger years. Early on, money and the building of future security is critical, but as financial requirements drop off and work experiences build, it simplay makes sense that workers will seek employment where they are highly engaged. Perhaps maturity brings an understanding of what the work relationship “should” be.

Benefiting From Benefits

Overall, benefits satisfaction among workers is on the rise, with 39% of employees reporting that they are somewhat or very satisfied with their benefits packages, up from 36% in 2004 and 32% in 2003. Some employee segments report even higher satisfaction levels including 63% of Pre-retirees age 61-69. The study demonstrates a correlation between job satisfaction, employee loyalty and benefits satisfaction. Among employees who are very satisfied with their current benefits packages, nearly two-thirds (65%) are also satisfied with their current job — and 67% feel a strong sense of loyalty to their employer. Ibid

Perhaps I’m reaching here, but I really wonder what the effect of things like Total Comp statments is on benefit satisfaction. With costs continuously rising for employees, the focus by employers on strategic design and communications may be more than offsetting the cost effect.

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4 responses to “EE’s quit to seek relationships, balance and mission”

  1. Jeff Hunter Avatar

    Dubs –

    Great post. Let me posit an alternative hypothesis. Gen Y’ers are hyper sensitive to the inherent hypocrisy of most corporate systems. They see people above them who make a lot of money and who (many times) aren’t as skilled and facile in the competencies that drive success as they believe themselves to be. They (Gen Y) understand that they need a job, but if it is to get some upper-management slob rich at their expense, they’ll just demand “work-life balance.” It’s a politically correct way of saying “F*****F”.

    I believe the generational challenge is extreme here. Us old dudes say “That’s the price of rising to the top” but the Gen Y crowd hears “It’s all about seniority – not competence.” Why would they produce value for a system that won’t deliver an equal value to them?

    Just a thought. Again, great post!

    Jeff

  2. Double Dubs Avatar
    Double Dubs

    Jeff: I’ve never had to recruit a Gen Y’er, so I can’t really speak to the truths of these hypotheses. As a mid-career professional, I’d like to think that the early career professionals don’t know what they don’t know. I’m to the point where I realize how far there is to go and how valuable senior leaders are to the workplace. This isn’t to say that there are upper management slobs betting rich for little value. Plenty of those around.

    I’m not sure you’re right, but if you are, then maybe our educational system isn’t preparing the future generations properly for what work life is. Other possibilities are a generation raised in the booming tech 90’s that has “spoiled” us for work in favor of unearned leisure. (no – I don’t really believe in unearned leisure)

    At any rate, if the talent vacuum plays out, I hope this doesn’t affect productivity, else global competitiveness looks bad 20 years down the road.

  3. Colin Kingsbury Avatar

    I think the question is measuring what people have been culturally conditioned to regard as the supreme value. In the 50s it was to be a stable provider for your family. Today we’re so accustomed to relative affluence that we’re not worried about being providers anymore, so “balance” scores higher. It would be interesting to see how much these statistics correlate with income.

  4. Double Dubs Avatar
    Double Dubs

    Colin:

    or since we’re talking about 20 year olds, how these statistics correlate to parental income.