On October 9, 2018, NYS and NYC Governments enacted an anti-sexual-harassment law that carries pretty stringent requirements relating to employers’ anti-harassment policies and training. These labor laws have been revised and training requirements have been put in place by the Department of Labor in consultation with the Division of Human Rights. Originally, training was required by January 1, 2019 but, after some push back, the deadline was extended until October 9, 2019.
While none of us can predict the future, we do not need a crystal ball to tell us that as the Baby Boomers retire in the next decade, there will be a mass exodus of talented and experienced employees leaving the workforce. What does that mean to you, as one of the leaders of your organization? Do you see the exodus of the “Boomers” as an opportunity to reduce your labor and health care cost, or, are you concerned that the “War for Talent” will lead to a bidding war with compensation costs spiraling out of control? One thing is certain, organizations that do not begin developing their talent management systems now will be susceptible to being negatively impacted in the very near future.