One of the hot topics for organizations in 2024 is the ongoing talent shortage. Recent research suggests that it is a challenge that does not show signs of improving due to the uncertain economic situation and the great recalibration. This is not the first time that industries are faced with recruiting challenges.
As a matter of fact, some professions like accounting have experienced decreases in talent for decades. This year, we have decided to dedicate the majority of our blog posts to helping you come up with creative ways to attract more talent. And, when a more specialized or emergent leadership needs surfaces, as a top boutique executive search firm, we are here to help.
One of the most proactive ways of crushing the talent shortage is to invest in your employees. It may sound cliche, but it is nonetheless one of the most quantifiable ways of ensuring an access to a qualified talent pool that already loves your company, hopefully. The latter is another blog post concerning prioritizing employee happiness. For now let’s tackle investing in employees.
1.Ask- Yes, ask potential hires, and existing employees what they are interested in now, and what they want to do in a couple of years. What are they excited about enough to take additional training in via an employee perk?
2. Training-Now that you’ve asked what employees are interested in learning provide the training. Make it easy for an employee to sign up for a class or put together a learning plan. Leadership is key here as the frontline manager should present opportunities, and possibilities based on the information employees have provided, and company needs.
3. Invest in Leadership Development- There is a fantastic article from The Harvard Business Review that really brings the point home. Leadership development should encompass all areas,titles, disciplines, and tenures. Organizations will always need professionals that are creative problem solvers, and brand ambassadors for the company, and a go-to champion for the employee.
4. Interdepartmental Team Projects-This is a great way to create synergy among professionals from different orgs in the company and expose workers to areas they would not normally see or have access to. How to make this work can be tricky, but extremely rewarding. Here are some suggestions:
Define the project focus, and general expectations. This is the first step. Creating busy work that is not impactful is a waste of time. There has to be a compelling reason for the project, and why it is helpful to bring people from other areas onboard.
Provide access to the project by posting it on your organization’s forum, groups and general intranet. Be welcoming to everyone that is interested and has the bandwidth. Someone’s current title is not in any way an indicator in what they can or cannot do. You might be pleasantly surprised.
Communication is king. Schedule syncs,choose a de facto communication platform,and share resources. Don’t assume someone is on the same page with you or that something is a no brainer. Working on a cross functional interdepartmental team increases the possibilities for miscommunication. Write everything out, identify potential problems, and leave nothing to chance.
5. Education Perks-Some common education perks companies can provide include tuition assistance programs, professional development workshops and seminars, mentorship programs, and access to online learning platforms. Tuition assistance programs demonstrate a commitment to lifelong learning by reimbursing employees for the cost of attending classes or pursuing advanced degrees. Professional development workshops and seminars offer employees opportunities to enhance their skills and stay up-to-date with industry trends.
6. Mentorship programs are also incredibly valuable, and for everyone regardless of level, and tenure. A sounding board, and real world guidance can help support an employee's career journey, and promote a positive perception of the company. Valuable employees, present, and future want to be able to grow with the organization. It makes your company sexy.