5 Strategies to
Tackle Workplace Labor Shortages
Attract & Retain Employees & Reengage Your Current Workforce
(Labor shortages affect work efficiencies)
Your workplace and workforce are changing at warp speed! The changes are not subtle – they are real! In client consultations, Antrim continually hears that recruitment, hiring, and retention strategies are under considerable pressure. We offer here five strategies to attract, build, and retain a new workforce. One explores the benefits of utilizing you seasoned knowledge assets. The assets guarantee your future workplace stability and growth.
Why should you care about labor shortages?
Most leaders in the private and public sectors are aware of the 2020 U.S. Census and its alarming predictions for available labor in the coming decades. The Census reveals that low birth rates for the past 25 years are the cause of our current labor shortages. These low birth rates occur as Gen X retirements surge causing additional workplace strains and cause:
Loss of workplace innovation
Diminished workforce commitment to excellence
Absence of bedrock client service excellence
Decreased attention to detail, increased errors, and lower productivity
Culture with continuing high absenteeism, sudden resignations, quiet quitting, workforce apathy and/or complaints
Frequent workforce accidents
Why should you be concerned? Your Gen X workforce are known as knowledge assets! Their knowledge, trusted skills, expertise, and lost proficiencies will be seriously felt. Gen Xers’ are admired for their broad knowledge, skills, abilities, and job commitment. They will be hard to replace because they step up and:
Identify issues
Solve problems
Support and oxygenate team cohesiveness
Calm others in stressful times
Use timely and accurate communication
Are respected by all for their innovative thinking
Other issues under labor shortages
Whether you serve the private or public sectors, the loss of your Gen Xers is creating other issues: recruitment and training challenges . These impacts are being felt everywhere, i.e.:
Human Resource professionals are challenged by a lack of qualified and dedicated job applicants
Educational institutions experience a decline in highly qualified teachers and professors due to X retirements
Decreased student enrollments caused by tuition costs and incidental expenses
Current shortage of applications and hiring for manufacturing, education, hospital and healthcare facilities
Embrace Gen Y and Z for labor shortages
Gens Y and Z bring high levels of confidence and decision-making skills . However, compared to Gen Xers, they often lack experience and may not possess traditional knowledge, skills, and abilities.
Gen Y and Zs
are your answer to the labor shortage.
Recently, the National Society of High School Scholars conducted a member survey of sophomore and junior high school students. The survey of 10,000 respondents revealed that as a result of being isolated during the pandemic the group want opportunities to interact with people, gain leadership experience, and explore available career paths. Jim Lewis, President of NSHSS, said, “They’ve been isolated, and they feel a real hunger for knowledge and the ability to be in a professional environment, learning from peers, and gaining valuable skills. This is a hungry generation.” We agree, based on Antrim’s conversations with leaders in the private and public sectors.
Senior management and human resource professionals know that Gen Ys and Zs possess valuable traits learned in their formative years. They:
Are Technologically Savvy
Possess Value-Driven Ethical Characteristics
Excel in Culture With High Quality Work-Life Balance
Display a High Job Commitment in a Continuous Learning Environment
Let’s look at each in greater detail:
Technologically Savvy
Gen Y and Gen Z are digital natives, comfortable with technology and adapt quickly to new tools and platforms. As a result, they effortlessly drive innovation and workplace efficiencies, given an oxygenating atmosphere.
Value-Driven Ethical Characteristics
Gen Y and Gen Z seek meaningful work. They are highly motivated by their workplace contributions and excel when they receive positive feedback along with a fair compensation package. Their energetic and committed presence increases workplace engagement and productivity among co-workers. Best of all, their ethics align with your organization’s Strategic Plan, as well as its Mission, Vision, and Values.
Excel in Culture With High Quality Work-Life Balance
Generations Y and Z are highly motivated by remote work and flex hours, whenever possible. Human Resource professionals know that recruitment is positively impacted when organizations offer highly competitive compensation, superb health care benefits, remote work and/or flexible hours. These perks drive a successful on boarding and retention strategy.
High Job Commitment in a Continuous Learning Environment
As mentioned above, Ys and Zs prioritize professional development. As a result, organizations that fund and implement continuing training initiatives are more likely to attract committed job candidates and retain them for many years. Outcome: Ys and Zs are committed to you when you’re committed to them!
5 Strategies for Managing Your Organization’s Response to the Labor Shortage
We have discussed the many challenges caused by your current labor shortage. Here are 5 Strategies you can adopt to ensure your organization’s relevance and competitiveness in the face of labor shortages:
Knowledge Transfer Initiatives
Targeted Recruitment and Summer Internships
Workforce Training and Development Initiatives
Talent Acquisition and Retention Programs
Succession Planning: Develop Your Future Leadership
Let’s look more closely at each:
Knowledge Transfer Initiatives
Private and public organizations benefit greatly when they establish continuous mentorship and knowledge-sharing programs, using retiring or retired (!) Gen X employees that share their expertise. These actions preserve institutional knowledge and ensure smooth transitions.
Targeted Recruitment and Summer Internships
These initiatives can be easily implemented using innovative language targeted to your desired candidate pool. Your strategies should highlight your organization’s commitment to innovation, workplace flexibility, and commitment to professional development.
Don’t forget to reach out to your local high schools and colleges! With a appealing marketing campaign and superb interviewing techniques you will find the best candidates. On-site visits, your website, social media and digital platforms are great tools.
Workforce Training and Development Initiatives
Plan for budgets that provide long-term training and development programs The benefits will be apparent within a few months. Your workforce will know you value them as, together, you build valuable workforce KSAs across your workplace.
Well-designed continuous learning and development programs invigorate the commitment of your workforce.
Best of all: training and development are great ways to boost culture positivity!
Talent Acquisition and Retention Programs
Programs Your target market , Gen Ys and Gen Zs, have what you’re looking for. You may only need to reassess your talent acquisition strategies: focus on your commitment to develop the traits and skills that Ys and Zs possess:
· Willingness to learn
· High levels of confidence
· Decision-making skills (easily developed!)
· Technologically Savvy – offer opportunities to learn and adopt new software programs and applications to improve your workplace and customer service
Succession Planning: Develop Your Future Leadership
Succession Plans build and ensure the future of your organization and your workforce. Succession Plans are absolutely essential in the face of continuing Gen X retirements.
The current labor shortage tsunami speaks for itself!
The Benefits of Succession Planning are numerous. Antrim believes that both Strategic Planning and Succession Planning initiatives set the stage for long term organization-wide financial security and provide clear statements of intent and purpose to your workforce and your clients.
Conclusion
Antrim knows your organization values its reputation in today’s highly competitive business environment. Whether your organization serves the private or public sector, today’s strategies guarantee tomorrow’s future.
We at Antrim stand ready to assist in developing and implementing your 5 Strategies to Attract and Retain New Employees and Re-Engage Your Current Workforce!
Give us a call! We have the solutions you need to develop your future!
Online &/or Onsite Coaching
Free 1 Hour Initial Consultation
CONTACT ANTRIM CONSULTING