Similar to location, location, and location in the real estate business, the current business environment talks about talent, talent and talent. Here are comments from just the last few weeks from clients ranging from life science research to food and mining machinery and equipment to building and construction products to water testing laboratories:
- Every month we push out the ramp up of production because we are constantly robbing Peter to pay Paul with our employees.
- We need to hire several key supply chain positions…..yesterday!
- We will have to go through Herculean efforts to scale up and meet our sales forecast with limited resources. Not matter what we pay, we cannot find enough people to fill our needs.
- We lost another key resource to a better opportunity or retirement.
The executives who find a way to scale and navigate these resource-constrained times successfully will leapfrog the competition and thrive following this post pandemic rebound. Will that be you?
One Tip to Implement This Week:
Unfortunately, there are no magic bullets to solving this talent gap. On the other hand, several best practices are coming in quite handy for the clients using them. Although frustrated, they are clearly head and shoulders above the rest of our clients and colleagues.
- Remember, people work for LEADERS, not companies: No amount of money will keep top talent in this market if not accompanied with top leaders. It is true with clients as well. Do you employees, trusted advisors, customers and suppliers want to work with you?
- Ensuring accountability and having high expectations attract talent: The best way to lose top talent is to let team members get away with subpar performance. Who is picking up the slack? Your best talent! And, of course, they know it.
- Are you explaining where the company is heading and why? People want to be associated with a successful team and understand the future. Explain where you are going and why.
- Are you explaining how each person adds value? Each person adds value to the mission. Are you explaining how each person contributes and adds value for the customer? Wouldn’t you be more interested in working if contributing to a worthy and exciting objective?
- Are you providing resources and tools to support your people? Are your employees suffering with outdated tools and limited resources? If so, frustrations will start to run high. Invest in what makes sense to support your teams’ ability to succeed.
- Mentor & train: These two topics are VERY different. Mentoring is providing an example and a sounding board of someone who has “been there and done that”. Mentors also provide feedback to modify behaviors. Find mentors or supplement with outside resources. Clients have been asking for us to fill this role to supplement their organization lately. Providing training is much different. This is the accumulation of skills and expertise required to support your people. Many successful organizations are signing employees up for our Association of Supply Chain Management (ASCM/ APICS) training courses on manufacturing, supply chain and logistics management principles.
- Utilize trusted advisors: Don’t try to save money looking on Indeed. Instead, figure out what you need, find the best trusted advisor to support your need and follow advice on the best strategies to attract and retain talent. You’d be surprised how many clients request advice and do not follow it!
The bottom line is to use common sense when it comes to attracting, retaining and training your talent. Please keep us in the loop of your situation and how we can help your organization successfully navigate the current volatility and emerge above and beyond. Several of these types of topics are included in our new eBook Emerging Above and Beyond: 21 Insights for 2021 from Manufacturing, Supply Chain & Technology Executives. Download your complimentary copy.