(3) Retaining future talent With baby boomers retiring in large numbers (3.6m are expected to retire in 2016) and the estimated cost to replace an employee running over 30,000, todays leaders need to find a way to identify talent and develop robust strategies to engage and retain them while stemming the flow of your talented employees leaving the organisation. Millennials have very different expectations about jobs, length of service in a firm and remuneration than their predecessors. Several surveys suggest that they value a good work-life balance, working for a firm with strong values and having a sense of purpose beyond financial success or having a job for life. Younger people are more likely to resign and move to another role or career after a short period of time, often in search of promotion of a better work-life balance or if they feel the current role, manager or organisation isnt for them. The answer is in your hands remember, your best people are your best investment. Leaders who wish to retain future talent will be more successful if they scan the constantly changing landscape for trends, patterns and signs that may impact their ability to develop and retain millennials. To conclude, these three pressures are connected. All three need you to be agile. If you can understand and demonstrate the range of skills, awareness and behaviour required to lead and manage well you are more likely to drive performance, to retain and engage your future talent. Not only that, being skilled at attracting, developing and retaining talent, youll create a culture where your talent can blossom. When you as a leader-manager can navigate these three pressures successfully, you will set yourself and your organisation up for sustained success.people management firm BlueQuay,And author of Being An Agile Leader-Manager. She is a business leadership consultant and confidant to directors, senior managers and emerging leaders in blue-chip companies across a range of industries. Follow the company on Twitter at @bluequay.
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