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Employee Incentives and Retention for an E-World
Abstract
In the modern world with an increasingly independent and mobile workforce, the traditional relationship between an employer and its employees is radically changing. Long-term associations built upon trust, loyalty, and mutually implied promises of support are being replaced with transaction-based relationships that rely on the mutual exchange of services for value-perceived benefits. The labor force is now multi-generational and comprised of complex cultures, with members holding differing and unique value propositions and definitions. An employer can no longer establish “one size fits all” benefit and career management plans and expect to attract and retain top talent. An organization needs a flexible and comprehensive talent management program that recognizes an individual employee’s self-efficacy and self-determination in defining what is and what is not valued as a benefit, reward, and incentive. This article presents an overview of this changing environment and explores innovative alternatives for attracting, retaining, and managing talent in an e-world.
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