Human capital risk management is a much more complex challenge than overcoming the obstacles of an aging workforce and small labour pool. It is important that leaders take into account that the workforce is not homogeneous.<\/p>\n
In today\u2019s complex and dynamic market, understanding, embracing and learning to manage the negative risks associated with a multigenerational workforce\u2014while harnessing the positive risks\u2014will result in a competitive advantage.<\/p>\n
To fully understand the generations, and how each cohort inherently brings both positive and negative risks to the workplace, organizations need to understand how different generations impact workplace performance.<\/p>\n
Some mistakenly believe that because one cohort demonstrates a particular value, that other generations don\u2019t possess that same value if it isn\u2019t expressed in the same way.<\/p>\n
For example, since Traditionalists demonstrate fierce loyalty to an organization, Gen Xers and Gen Ys are often judged as disloyal to employers if they leave the organization \u2018too soon\u2019 in their career. Baby Boomers are renowned for their dedication to long hours at work, so many inaccurately assume that \u00a0that Gen Xers and Gen Ys don\u2019t have a strong work ethic, as they generally won\u2019t commit to the same number of hours consistently without a direct return on their time investment.<\/p>\n
The four generations approach problem-solving and achieving desired results differently. To understand how to manage \u201cpeople risk\u201d effectively requires a thoughtful analysis of the impact that generational identities have on workplace performance.<\/p>\n
Leaders with highly engaged teams generally have the best key performance indicators. Naturally, leaders who are not successful at engaging their employees are at risk of having a dysfunctional team where communication is poor and turnover is higher.<\/p>\n
By recognizing that your human capital comprises multiple generations\u2014 who have varied values, behaviours, and expectations\u2014you are taking a more sophisticated approach to managing \u00a0risk.<\/p>\n","protected":false},"excerpt":{"rendered":"
Successful Human Capital Risk Management Human capital risk management is a much more complex challenge than overcoming the obstacles of an aging workforce and small labour pool. It is important that leaders take into account that the workforce is not … Continue reading