The Future of Work - Beyond the Paycheck
Across Canada, approximately 1,000 people aged 60 and over leave the workforce every day, totaling approximately 365,000 retirements each year. Meanwhile, only about 750 young adults (aged 20–24) are entering the workforce daily, adding up to 275,000 annually.
In Prince Edward Island, we see around 6,000 retirements per year, with roughly 3,600 young adults joining the workforce. But with the vast array of career choices, online opportunities, and global access, how do we attract and retain the talent we need to build resilience in our businesses?
After sitting down with 20 business owners to talk about what keeps them up at night, the aging workforce stood out as a top concern, especially among those in agriculture. Many business owners are facing the contrast between the “old-school work ethic” and a new generation that prioritizes mental health, values flexibility, and stays globally connected (yes, through those phones that seem glued to everyone’s hands!). What this has meant is that businesses owners have recognized they need to be more adaptable in the way the business operates and how they manage people.
Here are a few creative retention strategies shared by these business owners that have improved worker morale and productivity:
- Stay connected: One owner uses a WhatsApp group to celebrate milestones and regularly thank the team. People appreciate being acknowledged and valued!
- Make it fun: Think about it—most of us spend a third of our adult lives working. Why not make it both productive and enjoyable?
- Flexible scheduling: Owners are embracing more adaptable scheduling to fit employees’ modern needs. Flexibility goes a long way!
- Thoughtful extras: Lunches, BBQs, Thanksgiving boxes, surprise vouchers, and extra time off show employees that they’re valued and make work feel like a place where they belong.
These are just a few ways to boost employee engagement and create a culture where people want to stick around.
If workforce resilience is on your mind, we’d love to see you at our upcoming event on November 15th at the Silver Fox in Summerside!
Join us with award-winning speaker, Eddie LeMoine, for a keynote presentation on Strategies for Attracting, Retaining, and Inspiring Youth Talent. Following Eddie’s presentation, a youth panel will share their perspectives on work, what motivates them, what they value, and what keeps them loyal.
For event details, see below and click on image to register!
$20 for members and $30 for non-members (Breakfast included!)
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