Question

Millennials are now the largest group in the workplace, but Boomers, Gen Xers, and soon Digital Natives are also working together. A company's financial success is increasingly tenuous and layoffs often loom. Working long-term in companies is becoming a thing of the past. Millennials refer to working in a company as "doing a tour." In addition, the economy is good so there is less risk in switching to another company because jobs are plentiful.

Given this environment, why should companies invest in employees? If companies do invest in development, how should they go about it? Write a short paragraph for each question.

Answer 1

It is true that people does not stick to one company for a longer period of time. They keep on moving to multiple companies in search of more money and more opportunities.

Given the situation, companies have to invest in employees. Now, the company should invest in its employees because the employee will give the output which will help the company increase their sales and hence covers the costs spend on the employee. Companies can make the employees sign the contract of a time period as to not have the risk of losing them. But in any case, the company sees the potential of the employee to spend the money on them. They invest in employees for their benefit only.

If the companies invest in the development of the employee as well as the company itself, they should ensure that the money they will spend should not be getting wasted. So what company can do is the contract with the employee. Other thing can be like it can hire the employee for the probation period first and then make him permanent if he works well. This will help the company to spend a limited amount of money on the employee during the probation period.