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A New Look at the Workforce
The implications of what has been termed the ‘skills shortage’ need to
be understood by every business owner. The ways we hire, train,
remunerate and manage people will have to change, and so will the way we
run our businesses.
Most countries have an aging workforce and a declining birth rate. What
we call ‘baby boomers’ – a significant percentage of the workforce, are
reaching the end of their working lives and are already beginning to
retire. At the same time the declining birth rate means that fewer
workers will be available to replace those who leave the workforce.
The Australian government identifies the following as the primary
reasons for the growing worries about a shortage of skills:
- the technology used in an industry changes
- new technologies emerge
- old industries move into different regions with a different skills
base
- job seekers’ interests in industries and occupations change.
A skills shortage does not necessarily mean that there are plenty of
jobs for anyone interested in that area of work. Often there is only a
demand for experienced workers with highly-specialized skills. The
demand might only exist for a relatively short period of time; it might
not be possible to train people to fill these positions before the
demand falls once more.
But overall it means that it’s probably going to be harder to find
skilled people for the jobs in your business. You’re going to have to
pay more to get them and you’ll have to spend more to ensure they have
the skills you need and to retain them. You’ll also have to make changes
to the business itself.
The generations after the ‘baby boomers’, now called generations ‘X’ and
‘Y’ in the media, have entirely different attitudes towards work than
their predecessors. They’re not as financially-driven and demand much
more from their employers than just a regular pay check and the
occasional pat on the back.
Younger people want to choose not only the type of work they do but also
to work for an ‘employer of choice’. They want to be part of an
organization that reflects their own personal values and gives them
opportunities to grow and develop in their work. Their skill sets are
different from trades-trained workers of past generations and they have
little interest in doing the same thing day after day.
How to Keep the People You Have
Research shows that an increasing value is being given by employees to
their relationships with their employers. It is up to the employer to
develop and nurture this relationship, as well as to keep it positive.
The key requirement is that the employee feels they can trust their
employer and that they are respected for their contributions to the
organization.
This places unexpected demands on employers used to simply paying for
what they get. In the future they’ll also have to create a workplace
where their people feel good about where they are and what they do;
they’ll have to share information about the business and offer forms of
remuneration that motivate employees and reward them for the part they
play in the organization’s growth and achievements.
Managers will have to be worthy of respect from their subordinates and
not just lead by decree. They will have to improve their own skills to
motivate and retain skilled workers, or risk losing them to employers
perceived as being more desirable and progressive.
How to Recruit Good People
As skilled workers depart businesses around the world employers will
have to change their recruiting practices from the prevailing use of
third-party resources – recruiting firms and contractors. The days of
employers being able to dictate terms of employment to get around
industrial legislation are truly numbered.
Employers will have to take more responsibility for finding the right
people for every position. They will have to exercise greater care in
defining skills requirements and provide for more flexibility in job
structuring and reporting relationships so these can be adapted to suit
the people recruited.
To get the right people employers will have to be able to clearly
articulate their organization’s values and project these into their
business practices and their products. They will have to become more
attractive to the decreasing pool of talent as well as differentiate
themselves above their competitors.
How to Be a Better Employer Organization
According to a number of studies conducted to identify the
characteristics employer organizations will need to have – or develop,
these are some of the most important:
- A system in place for gaining feedback from employees
- Excellent communications with employees about the business and about
their own performance
- A willingness to develop employees’ skills, even if not directly
related to their current position
- Ethical and honest behavior at all levels of the organization
- A clearly articulated vision for the business
- Work that is interesting and presents employees with challenges
enabling them to grow
- Managers and supervisors with demonstrable talent and abilities that
create respect and trust
So, not only is it going to be harder to keep the people you have
working with you; it’s also going to be harder to get new people to join
your organization. Your future success or failure could well depend on
your policies of recruitment and staff development and on how you
respond to the challenges of restructuring your workplace.
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