The labor market is tightening.
How is your company dealing with the local talent shortage?
Are you competing on pay? Continuously raising your wages may be a losing game that continues to rack up costs as workers come and go for higher-paying positions.
Are you hiring temporary staff? Is it worth the cost of agency fees, time spent repeatedly training new staff, and risking lower performance due to lower reliability and commitment from temporary workers?
Are you training and developing your employees to address your talent shortages? Training and development is becoming the go-to strategy for of forward-looking employers to fill their talent pipelines.
53% of employers (up from 20% in just one year) are training and developing existing employees to fill open positions (ManpowerGroup).
94% of manufacturing executives say training and development is more important to address the skills shortage than using overtime, hiring temporary staff, outsourcing, or moving geographic locations (Deloitte).
Training and developing your employees to gain the skills you need in your organization not only saves money compared to competing on pay or hiring temporary staff. It adds the additional value of retaining and attracting employees.
Employees today are in search of purpose, personalization, and development to improve professional marketability.
Don't think that you need to create formal training programs to build employees' skills -- although you may. Training and developing your employees includes the effective on-the-job training, coaching, and mentoring employees receive from their bosses (your leaders).
Unfortunately, most front-line leaders, supervisors and team leads, and even senior leaders and executives are promoted for their past on-the-job performance and technical skills as individual contributors -- not because of their ability to get results through others. Do all your leaders have the communication and coaching skills to effectively develop their employees?
Imagine what your company would be like if all your leaders could effectively set expectations, give feedback, develop your employees and elicit their commitment. Leaders with strong communication and coaching skills can give today’s professionals the ongoing development and growth for their future capability that they’re looking for.
Your leaders can be your strongest retention tool -- or your largest retention hurdle.
Build Your Leaders’ Communication and Coaching Skills with the Leadership Amplifier.
The Leadership Amplifier is a customized, in-house development program that equips your leaders to provide the ongoing development and growth your organization needs and today’s workers are seeking.