In your business growth plans for this week, one area you will be focusing on is recruitment and retention of employees. Your text states “In a recent survey of 173 CEO/founders…the HR issues seen as most important included: recruitment/ selection/ retention/ compensation and special pay programs…” (Cadotte & Bruce, 2003, p.359). A unique recruitment and retention challenge faced by current CEO’s is that for the first time in history multiple generations work side by side. “Each group has its own distinct characteristics, values, and attitudes toward work, based on its generation’s life experiences” (American Management Association, 2007, ¶ 2). For this discussion question respond to the following, supported by scholarly sources:
- Define the generations as referenced by the American Management Association.
- Talk about the motivations for each of these generations.
- Research the challenges faced by employers in creating compensation/rewards programs that will satisfy all generations.
- Discuss how the company you presently work for accomplishes this goal.
- Recommend changes or improvements that your present company could make to their current practices.