The Talent Challenge
Attracting, acquiring, and retaining talent is more challenging than ever before. To be successful, today’s tight labor market should encourage companies to adopt a strategy to develop existing talent. Aside from showing employees you appreciate their contributions, the investment in training and development helps retain employees by letting them know they have the opportunity to grow. Firing an employee in the hopes you’ll be able to hire a solution to your problem is much more of a gamble. As Incipio’s president and founder Molley Rickett likes to say, “If you really examine it, the talent walking out your door is usually not the same talent that is walking in your door.” The days of “plug and play” are in the past.
That’s not to say there isn’t a place for effective recruitment. There likely are some key roles within your company where you simply need to fill that position with outside talent. But thinking first about “bulking up” your talent within your company can be an effective strategy because in this job market it’s time to get creative.
HOW TO BEGIN
Look at your current workforce and examine whether people are in the right positions. After a review of their strengths you may discover you should rethink some roles. An employee may function best in a different position than that for which they were initially hired. For example, I’ve witnessed a human resources professional blossom and become a valued employee once they were given an opportunity in software development. Communication is key – as is support from leadership. Employees want leaders who care about their well-being. They want to work for leaders who recognize and appreciate them. Having an open and honest conversation is often the best place to start. Perhaps the performance review process makes it clear an employee isn’t meeting expectations. So now you work together to look at their talents from a different perspective. What are their strengths? What do they bring to the table that could help the company grow? If you play to their strengths you’ll develop an employee who is happier, more engaged and more effective for both themselves and the business.