The Aging Workforce: Challenge or Opportunity? M Roselyn R. Feinsod Towers Perrin uch has been written about the aging of the working population and the potential implications this trend holds for employers‚ financial markets and the overall economy. The possible workforce scenarios predicted to play out during the next five to 10 years range from demographic doomsday (i.e.‚ severe labor shortages because of baby boomer retirements) to a soft landing (i.e.‚ minimal workforce disruptions
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Motivation in the Workforce Managing employees is cited as being the biggest problem to small business owners. This is because employers very often don’t know how to handle employees. Effectively managing employees is a skill acquired through training and practice. Many books have been written on the subject‚ and courses are regularly offered through educational institutions. Motivation theories were developed or built upon the "human relations" findings. The new focus for motivation
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exposure to accumulated training over time can also add value to an organisation’s knowledge base. Furthermore‚ the concept of an age-balanced workforce implies that the complementary strengths of younger and older generations are recognised and utilised within human resource planning (Brooke‚ 2003). The increased human resource costs of the younger workforce may potentially be countered by their currency of technical skills‚ which‚ may in turn be balanced by the experience and stability that older
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Not surprisingly‚ people often link increased globalization to the decline in relative wages of less-skilled workers in the advanced economies. But does increased international trade‚ especially with developing countries‚ in fact worsen income inequality? There are two approaches to answering this question. One focuses on the role of the price of imports in lowering the prices of products and thus lowering wages. The second uses the quantity rather than the price of imports as a measure of the intensity
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Introduction Workforce planning is a term used to describe the planning process undertaken to ensure an organisation has the right people‚ with the right skills‚ at the right time. It is simply a methodical process that documents the directions in which a work area is heading and provides managers with a tool for making human resource decisions now and into the future. Planning human resource requirements is one of the biggest challenges for businesses and their leaders‚ and takes into account not
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need to examine the social interaction amongst members of the organisation‚ as well as recognize that there were differences that existed that prevented a homogeneous workforce. It was these differences that are part of the ’workforce diversity’ concept. Workforce diversity‚ then‚ is the "concept of accepting that the workforce consists of a diverse population of people. The diversity consists of visible and non-visible differences which will include
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This brief discussion focuses on laws pertaining to marginalized members of the workforce. Those who are at a disadvantage because of a physical difference or disability putting them towards the fringes of accepted society. In this short essay I’ll examine three laws which were designed to improve the lives of the marginalized working class. I will explain how those three laws have helped me and my colleagues over my working life. Next‚ I’ll discuss why one of the las has done more for the employees
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Managing a Multigenerational Workforce Monash University Jason Cheah Introduction A multigenerational workforce can present many challenges for organizations of today and are fast becoming a prominent issue for Australian HR managers. An ageing workforce and continual technological innovation are the main reasons attributing to the issues associated with a multigenerational workforce. To remain competitive organizations will need to utilize such a workforce to their advantage and this
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The Aging Workforce Executive Summary We have come to the conclusion that the ageing workforce still have many barriers to overcome such as: training‚ health and safety‚ age discrimination; and although employers will experience‚ the additional costs to Group benefit – health‚ dental and pension plans. We must keep in mind that‚ to spite some barriers and mistaken beliefs regarding the older workers‚ they have proven to be valuable Human Resources in today’s labour market. Imagine someone
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Workforce Management and Workforce Development Practices Dawn N. Noguerra MBA 6247 Human Capital Management PO Box 1214 Inglewood‚ CA 90308 Telephone: (323) 243-4366 Email: justsyd2001@yahoo.com Instructor: Dr. Tidwell Abstract I have chosen one workforce development practice (organizational socialization) and one workforce management practice (retention and turnover). In this paper I will discuss both practices and how they relate to my current organization or how they can be implemented
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