For Generation Y, succeeding at an early age is key

These measures are used to track productivity differences between peers, productions sites and teams; assess costs, productivity and profitability; identify excess people in underperforming teams; and plan for redeployment of people into profit centres.

This calls for a proper understanding of the needs of the different segments of the workforce in order to improve performance.

The country senior partner of PwC, Kuria Muchiru, says that attracting and retaining talent has become a business priority that is also proving to be a challenge.

“The fact is, the generational mix within the workforce has made management and leadership today even more complex and has created a case for a review of the way in which we work and manage our employees,” Mr Muchiru adds.

Organisations that are able to retain valued employees, he argues, will emerge as business leaders since talent management is the main competitive advantage.

The report by PwC projects a massive shift in the global competitive landscape in favour of areas that are not only rich in resources but also people. This includes Africa, South America, Asia and the Middle East.

“There is no shortage of talent; just an opportunity to better develop your people,” the report states.
Besides the organisation planning for the imminent shift, governments are expected to put in place proper employment laws, taxes and education standards that are appropriately structured to attract employers and talent.