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For
most companies, the current economy has meant downsizing rather
than expansion, hiring has been at a minimum, layoffs have
been more frequent and promotions infrequent. Training has
been put “on hold,” and feelings of job security
are at an all time low.
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However,
with the anticipated turn around in the economy, there will
be new challenges. Will your company be ready? Some recent
facts to consider: |
- The demand for employees will exceed the
supply within the next decade.
- A 33% shortfall in college graduates is
anticipated that will result in a shortage of 6 million
new employees to replace retirees.
- Turnover costs range from .75 to 1.5 %
of an employee's compensation.
- Younger employees have different expectations
about their work lives - hours of work, relocation, travel,
education and training.
- Most employees don't know what to do after
“getting the job.” They don’t know how
to manage their careers within the organization - leading
to frustration, feelings of lack of appreciation, and
low morale.
- Top talent will look for new opportunities
as the economy improves.
- Most companys do not address succession
planning.
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Connections is for companies that are:
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- Proactive
in addressing future business challenges and opportunities
relative to human resource development and management.
- Committed
to employee development, satisfaction and retention.
- Focused
on being a “preferred employer.”
- Seeking
an experienced partner with proven results to assist them
with those efforts.
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