When the economy slows, it’s easy to ignore retention factors because management kids itself into believing that replacing people is no big deal.

But slow as it’s happening, the times they are a’chnging.

At least here and there, in companies that really understand the importance of attracting and retaining scarce talent.

“To reduce “female brain drain,” global companies such as Ernst & Young, Goldman Sachs, Booz Allen Hamilton, Hewlett-Packard, Best Buy and dozens of others are increasingly offering a variety of flexible work options.”

Don’t get me wrong. These companies aren’t doing it out of the goodness of their corporate heart or caring social consciousness, they’re doing it because it makes financial sense, AKA, vested self-interest.

“Business analysts and executives say talent retention and the forces of demography are the chief reasons large, traditional companies accommodate the needs of female employees. Fifty-eight percent of college graduates are women, and nearly half of all professional and graduate degrees are earned by women…the number of women with graduate and professional degrees will grow by 16 percent over the next decade compared with an increase of only 1.3 percent among men.”

And the need is going to get worse.

“Whether you can hear it or not, a time bomb is ticking in C-suites worldwide. Its shock waves will resonate for decades. The explosive: indisputable demographics. Surveys…indicate that the number of managers in the right age bracket for leadership roles will drop by 30% in just six years. Factor in even modest growth rates, and the average corporation will be left with half the critical talent it needs by 2015.”

It’s not just large firms, SMB companies are active in the effort, although they often skip the language and the programs are more informal—which is why they’re often described as “being like a family.”

Although the work-life trend started with women, the guys want it, too, and Millennials assume it as a right.

The economy will turn around—it always does; more Boomers will retire; demographics will prevail; talent will be scarcer and the companies that already know how to offer balance will have an enormous recruiting edge.

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Image credit: James Jordan on flickr

This entry was posted on Thursday, December 10th, 2009 at 1:30 am and is filed under About Business, About Leadership, Culture, Leaders Who DO, Leadership Choice, Leadership's Future. You can follow any responses to this entry through the RSS 2.0 feed.
Tags: attitude, communication-skills, corporate culture, MAP (mindset attitude philosophy)
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