According to the Wall Street Journal, the US gained a better-than-expected 263,000 jobs in March. Thus, the stock market surged and others gained as well including the Shanghai Composite Index, Nikkei Stock Average and Australia’s S&P. As the job market gets tighter, have you thought about how to attract, retain and develop talent throughout your supply chain?
What will you do that distinguishes you from the competition? As much as executives talk about attracting and finding top talent, an often overlooked strategy for success is to RETAIN top talent. Do you know that people leave leaders; not companies? The same can be said for supply chain partners. Are you a value-add supply chain partner? Since our clients have a constant concern when it comes to supply chain talent, we are updating our Skills Gap research.
What Should We Consider and/or What Impacts Could Arise?
When it comes to retaining your internal talent and your key supply chain partners, it is not terribly complex. Think about how you would like to be treated and what would attract you to want to work for or with your company. How can you improve upon those areas? Do you make your employees, customers and suppliers feel special? How could you do that?
If you are a leader, start by taking stock. Ask for feedback – and mean it. If you don’t care, people will pick up on it and they won’t tell you anything. Be genuine or don’t bother. Start by asking. Find out what is important to them and what they enjoy about their work. Do the same with your customers and suppliers. I have no doubt you’ll gain valuable insights in short order.
April 6, 2017