Long-term employment still important

Long-term employment still important Long-term employment still importantPosted October 13, 2011, by Sue Stevens Long-term retention of good staff should remain a priority for employers, even during economic downturns. Even dramatic downturns in the economy do not change the fact that the workforce is ageing and that long-term retention of good staff is essential. According to an Australian Safety and Compensation Council paper released in May 2008, the Australian government is taking measures to retain the labour force, particularly older workers, in an attempt to address the social and economic changes brought about by a rapidly ageing population. A Mercer Australia report supports the view that older workers must be considered as an important part of the workforce. The number of workers aged over 55 is increasing more rapidly than workers aged between 25 and 54. Without these older workers participating, Australia will face severe skills shortages. By 2012, the number of workers o ver the age of 55 is expected to increase by 15.4 per cent. Over the same time period, an increase of only 6.3 per cent will occur in the 25 to 54 age bracket. If employers are too hasty to reduce staff for short-term gains during tough economic times, they may find that, in a short space of time, they will struggle to regain the skills and expertise that they have lost. Furthermore, retaining the right people in an economic downturn can be beneficial to a company. As Peter Promnitz, Mercer Australias chief executive, said, Having the right people in the right roles at the right time could be a determining factor in whether a business survives the economic downturn. Employers who focus on the short term and dont heed the bigger issues of long-term skills shortages will jeopardise their future success. Whether to retrench or retain is a fine balance but its a consideration that is well worth serious contemplation. ResourcesMy first resumeCover letter for my first jobCareer Insider St oriesShelley Lask - Body Positive Health & FitnessInterested in becoming a?Human Resources OfficerGeneral ManagerBusiness ManagerAccountantOffice AdministratorPopular Career Searchesfuture employment trends in the next 20 yearshighest paying jobs in australiaskills you need for the futureonline freelance writing jobs australiamillennials in the workforce statistics CoursesBachelor of Social WorkEnquire Online Enquire OnlineCertificate III in Health AdministrationEnquire Online Enquire OnlineBachelor of Criminal JusticeEnquire Online Enquire OnlineCertificate III in Allied Health AssistanceEnquire Online Enquire OnlineSue StevensRelated ArticlesBrowse moreWORKFORCE TRENDSSalaries set to rise with strengthening economyAbout half of employers are planning to increase their workers salaries by up to six per cent, and nearly one in 10 are willing to consider a 10 per cent rise, according to the latest Hays annual salary guide.FreelancerGig EconomyHow to Juggle Your Side Job and Full-Time WorkDo you struggle with striking the right balance between your day job and your side hustle? Use our six simple tips to help make the juggling act a little easierWORKFORCE TRENDSTrustworthy and open managers are most valuedTrustworthiness and openness are now seen as the most important characteristics of a good manager, according to the latest L.E.A.D. (Leadership, Employment and Direction) Survey.