Pay no heed to the end of days, apocalyptic naysayers – gleefully positing the nonsense that the labour market is effectively broken and that nothing short of a globalist induced Great Reset can even begin to fix it.
Even in the eye of this so called, perfect storm – there are blue skies ahead for those that act with conviction, creativity and purpose.
As with many things in life – if you want something doing right, sometimes you have to take control.
So, here’s a 10 point plan designed to ensure that whilst competitors are flailing and failing – you are winning and prospering.
1. Go cold turkey on any addiction you may have to low pay, readily available, easy in/easy out labour
The best people are already in permanent, gainful employment OR on the temp to perm journey OR considering a number of options and will elect to do what best for their career, happiness, future and security. Fail on this and get used to working with what/who’s left.
2. Craft and evangelise the most compelling employer proposition.
Invest the time to translate your heritage, vision, mission and uniqueness – into what this means to those that you’re competing to attract. Remember – when it comes to talent attraction – everyone is a potential competitor.
3. Re-engage your workforce and people. Poor morale and excessive attrition is holding up a mirror to the business.
Could be culture, leadership, strategy, values – purpose. Whatever it is and wherever it is – leadership needs to find it and fix it.
4. Pay attention to the right metrics.
Focus on productivity, value and output – being deluded about getting a ‘good deal’ on your labour/agency costs – all the while being complicit in additional costs, pain, penalties and compromises to performance, competitiveness and ROI.
5. Up, cross and multi-skill your workforce.
Having fewer, more versatile, productive, fulfilled people – with a lower management burden - is the Holy Grail of resource management, business efficiency and competitiveness.
6. Be bold and courageous with your people/skills strategy.
Challenging times – demand at least radical (sometimes disruptive solutions). More of the same and same old/same old – anchors your business in the past and will lead you to getting in your own way.
7. Consider a wider Transformational Change programme.
If you’re planning to upgrade your people/skills strategy – this might be the moment and opportunity to radically reform your business elsewhere. A 2.0 version – Built to Last, Fit for Purpose.
8. Get help.
Presumably, you wouldn’t DIY; straightening your own teeth, being your advocate in a legal case, replacing your own roof, building your own car - (unless, of course – you’re a dentist, lawyer, roofer or TVR owner).
Getting your Talent Strategy right – is fundamental. Without the people/skills you need, where you need them and when you need them – everything else is harder and/or at risk.
9. Manage out those not good enough or refusing to align on values.
This is not the time to be carrying passengers. Identifying your A, B and C people is talent management 101. Apply the Vitality Curve - highlighter test:
Green – high energy, engaged, committed, high potential, productive, investible (top 20% ) 😇
Amber – hardworking, dependable, coachable, aligned on values (70%) 🤗
Red – poor attenders/timekeepers, low output/high management burden, political schemers, can’t/won’t adapt or change. (10%) ☠️
10. Act now.
Being first to market is one of the fundamentals of having meaningful competitive advantage. Having the luxury, and comfort of more and better applicants and candidates – puts the business in control, provides choice/options, enables the business to ‘engineer up’ it’s capability, competitiveness and performance.