In recent times, the problem that has become the focal point of concern for several firms and companies is the retention rate of their employees!
Business Coach Rajiv Talreja was asked by a member of his audience regarding the issue of ‘retaining employees in today’s day and age after you invest time and effort in training and grooming them’ to which he gave an articulate answer.
He analysed the root cause and divided the business world into three timelines namely “The industrial revolution”, “the information revolution” and “the social or digital revolution”.
These have witnessed three different generations.
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During the industrial revolution, people were concerned mainly with securing their primary needs for survival. That’s why our grandparents were themselves to death to secure the basics of “roti, kapda, and makaan” even if the company was bad and the boss was ruthless.
The idea of “Boss is always right” was prevalent and employment opportunities were scarce in the market. This mainly involved the grandparents of the current generation.
The next was the information revolution and here the world saw the emergence of big brands like Google and Microsoft.
Primary needs weren’t the main focus here since that was already taken care of by their parents and the workforce came to earn their standard of living with a handsome salary to pay off house loans and invest in mutual funds.
After the 2008 recession, knowledge was free around it and anybody could access information at the tip of their fingers. The information revolution ended and the digital or social revolution began.
The workforce now doesn’t care about primary needs since their grandparents took care of it and neither the standard of living that their parents ensured.
The current generation focuses on the quality of life, the workplace environment, the opportunities, their learning and rewards.
Rajiv Talreja concluded that unless such a mechanism exists, every company will undoubtedly have trouble retaining its employees.
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Feature Image designed by Saudamini Seth
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This post is tagged under: Business, Rajiv Talreja, Workplace, Industrial Revolution, Information Revolution, Social Revolution, Digital Revolution, Primary Needs For Survival, Knowledge, Employment Opportunities, Salary, Student Loans, Grandparents, Parents, Current Generation, Models Of Revolution, Business Coach, Standard Of Living
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