We are starting into the 10th month of 2021. The first three quarters of the calendar year are complete. 3 more months exist to realize the goals and objectives you set out to achieve at the beginning of the year. There is no question that 2021 has had its share of odd business dealings. The lag or should I say drag on the business marketplace still exists. Business leaders are continuing to figure out ways to take care of customers while trying to engage employees to be part of their team.
Although the country has indicated it is open for business, those businesses which are open are struggling with the overwhelming need for employees to be part of their organizations. In the last couple of weeks colleagues have told me about stories where they visited their favorite restaurant or business venue and were shocked that it was either not serving customers or had limited access to be serviced. This drain on business is impacting not just customers but the staff as well.
There are plenty of theories and opinions about why the talent crisis is impacting business and how we arrived here, but today we need to stop trying to figure out what happened and begin to build toward what needs to happen. That is what business leaders do – we act to impact not to react to the past. At least from our perspective, we can’t change what has already happened. We can and should learn from it, so we don’t repeat the cycle. We can and need to have influence about moving forward in a positive, constructive approach.
Where to start is an interesting question. One approach is to focus on pipeline development for both revenues and employees. We have always been a proponent of having a sales system which all revenue efforts process through. Starting from the initial contact through various phases to the point when a prospect is converted into a recurring longterm customer. The same is absolutely true for talent pipeline as well.
Maybe even more critical right now is the need to identify your target employee and market your employment opportunity directly to them. Business leaders have invested in the approach for years as it relates to revenue and sales marketing. Unfortunately, the talent side of the picture was always a secondary concern. As a result of the changes the pandemic imposed on business, employees have had the opportunity to rethink what they want to do, where they want to do it and with what organization will they be treated the way they desire.
Every industry is impacted differently and every level of hired talent also plays into the employment picture. For some roles in the marketplace the job/career jumping is happening because the hunger for talent is so great, people are upgrading to other organizations for some substantial financial gains. It may not even be the right fit for them long term, but they are taking advantage of the situation. Additionally, employees are using this time to request raises and to some degree forcing the hand of leadership to either buck up or be out in the marketplace trying to find new talent. It will be very interesting to see what happens when the marketplace can’t financially support the added burden organizations are taking on to buy employees into or keep them in their businesses.
This week decide to build a marketing plan not to attract customers but to attract employees. Identify the key traits you need and the available environment you are offering to attract the best in the marketplace. You do need to be competitive with your compensation system, but people are also looking for what your culture offers to them personally.
Needing some help to start the process of talent pipeline development? Give your Promise Guide at JKL Associates a call – FL (407) 984-7246 or MI (3130 527-7945