Organizations should consider carefully all aspects of implementing a training and development program, such as the need for their employees to be trained, the requirements of all job positions, and whether or not a training program would be valuable to the company. The organization needs to evaluate the ROI (Return on Investment), the goals of the company, the requirements for the program, and the desired results for the program. Organizations can maximize their capital through modernizing their workforce by combining the Baby Boomers, the gen X, and the millennial eras.
The three groups can provide a wide range of knowledge, work ethics, skills, and abilities that will increase employee satisfaction. Employees require training about hazardous job situations, proper procedures, and the location of the MSDS (Material Safety Data Sheets) information.Organizations may require additional upfront expenses to provide better equipment, tools, and individual safety PPE (personal protective equipment); however, that is a small cost compared to the large amounts of down time, increase in medical expenses, and loss of production, higher insurance premiums, or major lawsuits. The methodology of the case study involves employees from the Heart Hospital and targets the benefits that an organization will gain by implementing a multigenerational workforce.
Survey results from the Baby Boomers, gen X, and the millennials provide insight into a pre and post training experiment.In addition, aids in showing employers the effects of encouraging employees to continue learning in such a way that could result in better leadership and management positions in the future. Organizations offering a training and development program tend to have employees that possess better morale that will result in a significantly lower employee turnover rate. The benefits of implementing a training and development program must outweigh the organizations expenses and the inconveniences involved for the program to be a true success.IntroductionBackground The economy has changed drastically from the Baby Boomer era to the millennial era. This change in the economy has caused the Baby Boomers to continue working or to seek another form of employment after retirement.
Most are even close to retirement age but find that they are nowhere near ready to retire. The Baby Boomers (Gen Z) and generation X (Gen X) are not looking for just a job; they are looking for a career (Cekada, 2012). On a side note, the gen X era will consider changing jobs before they will sacrifice their family. While the millennials (Gen Y) are either in college or fresh out of college so they are most likely looking for a job that will help them to survive in this economy.
The millennials have not endured a great deal of work history; therefore, they have an extremely low work ethic (Cekada, 2012).The economy and technology are forcing organizations to consider the difference in how new employees learn based on their age and upbringing. They can do this by implementing a training and development program that understands and applies strategies specific to each generation. However, implementing a training and development program may not be justifiable for all organizations. Organizations can determine if a training program will benefit them in a number of ways. Organizations need to assess the necessities for the company by evaluating their ROI, identifying their goals, and evaluating their desired results (Bernatek, 2012).
Problem StatementBased on the above discussion, today’s competitive job market has changed considerably, requiring organizations to modify how they recruit and train employees in order to maximize the organizations capital (Bernatek, 2012). The problem is that organizations would rather seek employees who possess both, a college degree and have notable work experience, in all actuality, organizations should consider recruiting employees that will bridge the generation gap among the modern workforce. 1. What key roles will a training program that adheres to the baby boomers, gen X, and the millennials play in the success of a business? 2. Will a training and development program provide an organization with happier employees; therefore raising capital gain? In order for this to occur, organizations need to build strategies that will overcome the gap issues.
One way they can achieve this is to merge the artisanship with the industrial revolution and the well-informed technical generation, which will enhance their workforce. Each generation can provide different insight within the workplace (Cekada, 2012). The Baby Boomers bring extreme knowledge and skills, not to mention, strong work ethics. The millennials, who are “now driven” due to growing up with technology, become huge assets for organizations that want to advance with technology.
The gen X features a combination of both, they possess the technical knowledge and they are mechanically inclined.The only downfall to this scenario is that the Baby Boomers will have a great deal of experience but chances are they may not have a college degree due to the era in which they were raised. The gen X group will have some previous work experience and possibly even a degree. One problem with the gen X group is that they either do not have a college degree or are currently in the process of obtaining their degree. The millennials are more apt to have (or close to finishing the requirements for their degree) but lack the preferred experience (Cekada, 2012).
Purpose of StudyThe purpose of this study is to explore ways in which organizations can maximize their business by developing strategies that will overcome the gap concerns among their current workforce: Evaluate the requirements and effectiveness of recruiting, retaining, and training plans in perspective of the generation gap. Determine the effects that an employee training and development program will have on employee morale, employee retention, and job satisfaction while maximizing organizations ROI (Return of Investment).HypothesisBased on a review of literature as noted later in this proposal, two major focuses will guide the analysis of data. First, it is hypothesized that organizations will reduce business cost and increase ROI by employing a combination of people from each generation. The Baby Boomers will bring work ethics, gen X will increase the work productivity, and the millennials bring along a change in technology; therefore closing the generation gap among the workforce.
As the different generations work together, each of their experiences, skills, and values will rub off on the others; therefore instilling valuable aspects that will stay with them throughout their career.Second, it is hypothesized that providing an effective training program provides organizations with more knowledgeable, skillful, and happier employees, which decreases the resources required for replacing employees. Employees who are satisfied with their current place of employment will commit to a life-long career because they feel more valuable. The more valuable they feel will increase the employee satisfaction and morale, which will allow organizations to focus primarily on the matters that are more pressing instead of replacing current assets.Review of Related LiteratureOrganizations seem to have no problems in purchasing the necessary technology and equipment to increase productivity, so why would management not view the training of their employees in the same manner? When an organization seeks out employment for a possible position, they look at the knowledge, skills, and abilities of all applicants that will fulfill the job requirements (Projections, n.
d.). Organizations are relying on the right individual to have the necessary work experience along with a college degree, if required. These types of requirements are triggering a lower response in applicants, primarily due to the different styles of background among the Baby Boomers, gen X, and millennials (Cekada, 2012).
In addition, the government has passed laws requiring organizations to seek employees without discriminating against anyone when it comes to race, age, beliefs, and disabilities (Bernatek, 2012).Return on InvestmentOrganizations need to increase the profits of the business and become more successful by investing in their employees. Organizations can invest in their employees by implementing a training and development program also known as on-the-job training (OJT) allowing them to seek applicants form all generations. Previous studies have indicated that most employees gain roughly 80% of their work-related knowledge and skills with hands on experience (Bernatek, 2012). Considering this data, past work experience will not be a primary concern when seeking applicants. Instead, employers can focus on satisfying the positions that have educational requirements, and then provide the employees the appropriate training that meet the needs of the organization.
OJT will not only increase an employee’s knowledge and skills but also helps him or her to become more productive; turning their employees into extremely valuable assets. Organizations exploring the concept of merging a multigenerational workforce to maximize their business need to focus on the difference in how the three generations learn. Previous studies have indicated that the Baby Boomers prefer to gain their knowledge through manuals and books. The Baby Boomers value a learning experience that provides them with a challenge, perhaps in a workshop setting.
The gen X has an exploration learning style indicating they prefer a classroom setting, one that allows them to interact with others, such as role-playing. On the other hand, the millennials prefers learning methods that allow them to visualize the material through things like software programs, playing games, and videos (Cekada, 2012).This data is extremely important for organizations to know before implementing a training and development program. Implementing a training program may incur upfront expenses for the organization, such as the need to acquire additional staffing, food, equipment, and supplies. In 2004, Employment Policy Foundation indicated that an organization could expect to spend a minimum of $13,000 throughout the recruitment process, which is for sure to increase over time (Projections, n.d.
). However, an increase in production will compensate for those upfront expenses. Therefore, by implementing a training and development program, organizations can ensure long-term success and profitability while providing the essential skill sets to their well-qualified workforce.Identify the GoalsWhile identifying the goals for implementing a training and development program, organizations focus mostly on quantifiable data indicating a need for a training program. How will a training program for employees save organizations in the end? Organizations have specific policy and procedure guidelines in which employees are required to follow government laws, such as OSHA (Occupational Safety and Health Administration) and HIPAA (Health Insurance Portability and Accountability Act) guidelines (Atkinson, 2010).
Organizations cannot assume that their new employees are familiar much less understand the policies and procedures.By not providing the appropriate training, organizations risk high dollar OSHA fines and possible criminal charges. Any such concern may force a temporary (or permanent) shut down for the organization resulting in loss of production (Atkinson, 2010). Employees who are not trained properly are more susceptible to job related injuries, which will increase the amount of fixed cost an organization will pay in medical and worker’s compensation expenses (Leffakis & Schoff, 2012).
The amount of money an organization pays on medical and worker’s compensation benefits depends on how many claims are filed. By investing in a training and development program, organizations provide better ergonomics, which significantly reduces the amount of job related injuries (Atkinson, 2010). Organizations may pay higher expenses toward better equipment, tools, and individual safety; however, that is a small fee in comparison to the amount of down time, higher medical expenses, issues related to production loss, higher fees for medical benefits, or the risk of major lawsuits.MethodologyAn introduction to the proposed area of research was presented in the previous section. The information included a description of the problem indicated for the research, review of past literature, and the hypothesis that will assist with the data analysis. The proposed research is an effort to examine the effects an organization will gain by implementing a training and development program, the relationship in enhancing an employee’s career growth, and increasing an organization’s ROI.
This section describes the methodology used for the research study. A description setting and design used for the study, research questions, study sample, sampling plan, data analysis, and concluding factors will be included in this section.