Are you Contributing to your Retirement Plan?
February has become well known for being RRSP month – but, I’m not talking personal finance; let’s leave that to the experts!
I’m talking about a “people plan” that would address all of your retirement realities. Are you spending time on the here and now of filling vacancies but not as much effort on what’s coming just around the corner? Most organizations do plan their yearly priority objectives and put some time and effort into their longer term priorities. However, have you CONTRIBUTED the RIGHT amount of time and effort to WHO will achieve those priorities in the longer term?
If you asked a human resource professional exactly how they spent their time, I’m certain their response would be that they are spending most of their time on the “here and now”.
Today’s reality is that the workforce is shrinking, so perhaps this notion of having zero vacancies will never be realistic. In the meantime, will the proverbial “Garden Hose” spew out retirees taking with them valuable organization knowledge? Will there be a continual leak of valuable resources as employee after employee leaves due to dissatisfaction and/or the lack of a career path?
Financial advisors tell us that to actually reach our financial retirement goals we need to start early and to consistently invest the right amount in order to build the foundation and maximize the return. We also need to be thoughtful in what we spend today and ensure we can balance our daily expenses with our future savings plans.
Yet, do organizations take this same future planning approach or are they simply focusing on the “here and now” and assuming everything will all come together in the future when it’s needed?
Future planning for people in your organization is all about hard, truthful conversations, planned action and as with your financial retirement plan; it requires continual, careful investment. Take a look around; does your organization have a “retirement plan?” Do the crucial areas of your business have a “retirement plan” in place that looks after the potential of a spewing hose and the leaks? If not, then make February the month to commit to YOUR organization to a people related “retirement plan!” Now, talk about getting a bang for the buck!