Are you Attracting employees or begging for them?
Contributed by Idea Collective Member:
The world has been in one of the fastest employment revolutions ever.
We have seen the great resignation, a global pandemic, and the ability to earn income in so many non-traditional ways, and it is creating chaos.
Too many organizations have decided to be in the blame game for not being able to meet customer demands. Blame it on wages, blame it on laziness, and blame everyone else for not being able to hire. If wages were at the root, every server, cook, and fast-food position would be full, and they are not.
So if it is not about the money, what is it about?
After decades of watching the workforce change, mentoring high school students for a decade, and observing the behaviors of the multi-generational workforce, I will share what I have learned.
Begging by offering more money is not the answer
Being involved in the blue-collar world for most of my life, I have seen too many people leave organizations for $0.25/hr more. They are only looking at the hourly rate and not the total compensation. A small percentage of people will indeed continue to chase dollars. Do you really want them on your team? We have created a society where there is a significant value on wisdom and not production. The Factory worker that has been there for 20+ years is making big dollars; my question is, are they making the same production and quality output as the young worker making 30% of his wage?
Today’s Millennial and Gen Z workers are not going to (and have demonstrated) accept being taken advantage of. They know their long-term value, have more information to see the wage gap, and are far more observant than Boomers, and Xers give them credit. You could offer the younger worker the moon, and if other things are not in the place, they will not show up.
Work-Life Balance is Real
I was working with an HVAC company to attract GenZ talent. I asked what the time off policy was. And just like much of the industry, there was no PTO until year one. Not only is this not going to attract young people, but it also is not going to attract anyone. We all want our time off without stressing out on prioritizing family vs. job/career.
Today it is not uncommon to have three weeks to start or even to have an unlimited PTO. This will not work for all industries, and it is key to have something. For Boomers and Gen X leaders/owners, this is a high hurdle to get over. The sense of earning your time off as part of growing up, not today. Creating a company culture where you value people as people will differentiate you today; it will become the norm in the next 3-5 years. So, you can either resist what is coming or embrace the opportunity in front of you.
How are you out behaving your competition?
Your best employee recruiting source is the employees you have. How many of your recent hires are from your existing staff? If it is less than 50%, there is an opportunity in front of you. If you or your managers are unwilling to invite and recommend other family or friends, you have not built a community for today’s workforce.
It is a myth that working with an organization with a clear mission, vision, and values is for the new kids. The great resignation proves that the older workforce is fed up with how businesses run. It is true that as leaders have become younger, change management may not have been handled well. Ultimately, humans want to spend their time knowing they are adding value and have a sense of purpose. That translates to pride in the company, chatting it up at events, and then creating awareness to the outside world that it is a great place to work.
There is not an easy button for this transformation. It takes a lot of work, dedication, and self-reflection from the owners down. You will know when you have “it” because you and everyone will feel it daily.
As the world continues to adapt and adjust to the changing workforce and the generational shift in leadership and ownership, there must be a willingness to adapt. I am not saying you have to give up all your traditions; just asking if you can step back and adapt. Generation Z will change the workplace forever; if you are not adjusting, you will fall behind.
If you want small business help, come to the Idea Collective and we’ll help you figure it out!
Vision Forward Business Solutions
Using decades of communication, accountability, and leadership skills, Brad will develop a plan allowing you more time with your family, develop the next leaders, and create value for your business.