Developing Your People to Keep Them with You

How are you dealing with the labor shortage at your organization? Do you have a deliberate strategy aimed at hiring, developing and keeping the best people you can? Many organizations may have a formal training and development budget, but the amount budgeted may not really be adequate for their needs. Still others may have developed an adequate budget, but their implementation of employee development plans falls short.

There’s no denying the present paucity of qualified workers. The work force shortage is affecting virtually all businesses and industries. And some authorities have predicted that the shortage will be with us for another ten years. What can you do to maintain a healthy, growing organization that will continue to attract the best people?

Consider the factors that motivate current entry level workers who are likely candidates for your organization. Yes, pay is a factor, but it is not the only factor. Many “Generation Y”members are looking for work life balance, as well as challenging opportunities for engagement and growth at work. They also want feedback about how they are doing, with recognition for a job well done.

Of course, maintaining a competitive pay structure is a “given” in this environment. But what’s as important is negotiating the working arrangements, work schedules, flex‐time and the like, to accommodate this need for work life balance. I find that this last factor is one of the hardest for Baby Boomer managers to accept, but accept it you must over the long‐term if you want to attract the best and the brightest.

And while you’re at it, you’ll need to reconsider how you work with your employees to provide them feedback, performance appraisals and recognition for what they do. The annual performance appraisal is dead, a casualty of the war for talent. It’s been replaced by frequent feedback, coaching and developmental sessions between the employee and his or her supervisor. If you and your managers aren’t meeting with each of your people at least quarterly, you probably aren’t providing them with appropriate, customized growth opportunities
and professional challenges. And their need for feedback requires frequent interaction that can’t be met through a stilted, usually abhorred, annual performance appraisal meeting.

And consider this fact: most employee “training” programs are aimed at fixing what’s wrong with employees—attempting to overcome a weakness. While it’s true that there are some base levels of performance for any task or position, we don’t get truly great performance by fixing weaknesses. That requires building on strengths, which is where “development” comes into play. Only by continually working closely with your people can you give them the development opportunities they require to be the best in their positions. This takes a lot more forethought and effort than the traditional, annual performance appraisal process. The winners in the war for talent have already begun. Have you?

Dom Cingoranelli, CPA, CMC assists organizations and managers with group processes, problem solving, and business growth, strategy and performance issues.