Surviving the Talent Shortage - A Tip from The Manager’s Answer Book

Unless you live under a rock, you’re aware that we are in a serious talent shortage. Not only the unemployment is very low, there is a serious shortage of people with the right skill sets for the knowledge economy. 

Finding the right talent to fill positions in organizations is always a challenge but now, even more so. What can your organization do to survive and thrive, for that matter?  For one thing, you can work to retain your great employees so that you don’t have to replace them in a difficult job market. 

Manager’s Tip:  While there is no guarantee that they’ll stay with you forever, you can increase your chances of keeping them just a little bit longer by using some of the ideas found in the The Manager’s Answer Book:

“As you consider how to retain your great team, ask yourself these questions:

  • Do they know how much I value them?  This is sometimes referred to as ‘re-recruiting your superstars.’ Sell them on the value they add to your team and let them know you are committed to adding to their skill set.
  • Am I providing the high performers with career development opportunities such as mentoring, conference attendance, seminars, or degree opportunities? Investing I you superstars can encourage them to stay with you. Employees, especially Millennials, want to learn and grow, so be sure you offer developmental opportunities.
  • Am I rewarding my great performers in ways that will motivate them to stay with me? In order to do this, you need to really know them individually so that the reward will fit them personally. To some people, a day off is a great reward. Others would rather have a bonus. There are countless ways to reward performance, but it isn’t a ‘one size fits all’ proposition.

For more ideas, see page 96 of The Manager’s Answer Book.

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