How worried are you about finding the right people?
Lots has been written about the talent shortage recently. In a recent study my state (Michigan) actually ranked as the fourth toughest state for finding talent based on a survey of employers. As I interact with leaders the thing I hear most centers around finding people and all the data suggests that is the #1 thing on the minds of leaders. I continue to stress the importance of retaining and developing the people they have, and it is great to see that many leaders get this. They recognize the inherent value of already having someone in place that already knows their organization, products, customers, etc.
Here is the key point to keeping those people – when employees were asked what they want more of, the top answer is career development. They want an organization to invest in them. I can remember the first time I asked a group of HR professionals if all of their best people had development plans – and 80% said no. Two weeks ago I was presenting at a conference and polled the audience, and 61% of the people in the room did not have a development plan.
Two reasons why this matters to people:
- Talking about their future creates HOPE: Remember my formula about having a good day vs a bad day? Hope > Fear + Anger + Frustration + Worry + Hunger + ______ + ________? When we have a career conversation we fuel the left side of the equation and address things that exist on the right.
- Talking to them about their future means you care: When I present to leadership groups 100% of leaders say they care about their people. When I ask them if all of their people have a development plan the answer of ‘Yes’ is somewhere between 20-30%. A second shift supervisor from Murfreesboro, Tennessee once put it this way – “So Scott, what you are saying is Intentions without Actions equals Squat.” Helping people form their own future plans and providing the support they need to be more successful and enjoy their work more is huge!
A wise CEO once put it this way when it comes to engagement and talent.
Most people come to work giving 85% of what they have, and we get that as a default if we pay them and provide them with a good environment to do their job. The key to leading more effectively is to create conditions where that employee will give that extra 10-15%.
The ironic thing – not doing career plans in the 2008-2010 recession was the main problem driving down employee engagement then. This simple habit will set you apart as a leader and as an employer, regardless of the economic conditions. As a start – here are some templates that you can use to get started.