These days, we can’t go anywhere or browse the news without hearing about employee scarcity. Job vacancies are peaking across Canada, the United States and elsewhere, in all industries, and employers are deploying immense effort to attract new talents. At Intuity, our take is that retaining your existing resources is at least as important if not more than addressing employee scarcity by hiring new talents.
Trying times for organizations
Let’s face it. Organizations are facing trying times.
If skilled resources and labour were already hard to come by before the pandemic, the situation in which they find themselves right now is far from easy. The future remains blurry, immigration is at a standstill, competition for candidates has increased thanks to remote work and abolished geographical restrictions and employees want more safety and flexibility and are ready to leave their employer to find what they’re looking for elsewhere.
With staff turnover and increased consumer demand requiring additional staff, focusing on measures to attract talent can seem to be a valid solution. But hiring is not an end-all-be-all. In fact, staff retention is the key that will then allow for attracting and hiring to take place more naturally and easily.
Instead of spending time developing new coop partnerships with educational programs that are struggling themselves, spending time screening candidates who have already found jobs elsewhere, establishing virtual hiring protocols and so on, why not devote your time and effort to those who are already on your team?
Remember how Arnold said he was ready to take on a new challenge? Now is the time to give him the opportunity! Help your team find meaning in their work, challenge them, equip them for the future and ensure their wellbeing, and you’ll have addressed at least a portion of your employee scarcity problem by preventing more departures.
After all, employee recognition is something many organizations lack at, and what better way to do it than providing advancement opportunities to the faithful individuals who have helped your business thrive all this time?
This in turn will help you attract more people, inspired by the culture you’ve created and the feedback of existing staff, therefore making your recruitment processes that much easier.
The ideal employee
Start by reflecting on the fabric of your existing team. What are the characteristics of the people you’ve employed so far? What makes them assets to the organization?
Now, how does your ideal candidates differ from this profile? What additional qualities or skills do they bring to the table?
Can you work with your team in place and help it get to where you’d like it to be? What tools and resources can you offer to better support them? Are there trainings, courses or coaching opportunities that would help them get them closer to your ideal employee?
And what about you? What can YOU do to improve as a manager and leader?
Retaining and attracting talent beyond compensation
Let’s not kid ourselves: if employees appreciate feeling they can grow and contribute meaningfully to the organization, it’s not to say that pay and benefits aren’t important.
If you haven’t done a comparative analysis in a while, now is the time to do it. Evaluate how you are compared to other organizations in your industry. Also, evaluate each position in the more global context. How are you faring in terms of salary, vacation, pension and other standard benefits? Do you find your business to be at par, below or above?
Although being above is a definite asset, it’s not the only thing that matters. What are other perks that make you stand out or that could help you stand out?
If you listen carefully, your staff will tell you what they want. You might be surprised to find out that a higher pay is not always at the top of the list of priorities.
Perhaps they’d like you to contribute to their RRSP. To develop partnerships to allow them to take care of their physical health at a discount or to receive an ergonomics specialist in their home office. Maybe they’d appreciate PD days, like those enjoyed by staff at numbercrunch. Or an opportunity to unwind in a dedicated, quiet space of the office.
Our solutions to employee scarcity
In alignment with organization goals, Intuity Performance offers a variety of services to help you address employee scarcity and increase team engagement and collaboration - from strategic human resources planning to HR infrastructures, policies and performance systems, to culture alignment programs.
The sky's the limit. Find what it is that makes your people tick, respond to that need, provide them with a positive atmosphere and the proper resources and opportunities, and you will increase your likelihood of keeping them – while also attracting the right people to fill those vacancies.