Hello again to all my blog readers! The warm August winds
are sweeping past us, children are donning their newest back-to-school gear,
and employees everywhere are wrapping up last-minute summer vacations, as Labor
Day weekend will signal the close of summer. Heading into fall, we have plenty
of things to keep us on our toes; political uncertainty / upcoming elections
(watch for an upcoming blog post on politics in the workplace!), international
economic uncertainty, stalling US job growth, and the lack of qualified talent
for available jobs (i.e. “US Talent Crisis”).
According to the most recent PriceWaterhouseCooper’s
(PwC) “U.S. Private Company Trendsetter Barometer”, half of leading private
companies were optimistic about the U.S. economy, but nearly the same
percentage remained uncertain, citing the painfully slow U.S. economic recovery
and the continued fluctuation in the Eurozone. This up-and-down movement in “Trendsetter”
confidence has been a consistent pattern over the past several years and
signals a prevailing sense of uncertainty, leading to talent and strategic
operating decisions that have a trickle-down effect on the entire working
population. Other statistics from “Trendsetter” to take note of: 86% expect
positive revenue growth over the next year, though they plan a slight scaling
back in spending; only 54% of Trendsetter companies looking to add new
employees; and 68% of companies cite potential lack of demand as their major
growth barrier, while 48% are also concerned about legislative/regulatory
pressures (leading us squarely back to political uncertainty and the upcoming
elections).
So, where does that leave us? Enter in Creative Talent Management.
Not to say that you haven’t been utilizing these tools all along, but with the
vast majority of surveys out there1 currently putting us at a
national unemployment rate of 8% by the end of 2012, down only by .2% from this
summer, so it’s good to refresh the memory. Best practices in creative staffing
management range so vastly by market that oftentimes we dismiss trends as
something that would be inapplicable to our industry just because it’s being
used elsewhere (i.e. a trend in the IT world does not always translate to a
successful implementation in a traditional manufacturing facility); however, I
challenge you to become more open- minded when thinking through your options.
Ask how something could be modified to work for your workforce, rather than
dismiss it, and possibly create something new and great in the process. You
will also find that no matter how great the solution, it more often-than-not
becomes not about the solution itself, but how it is received; therefore, think
about how you will spin this idea to employees, and you may even be able to add
a ‘perk’ to your list of benefits!
Flexible work arrangements are by far the most popular
staffing management tool. Any number of things can fall into this category, but
start with thinking about your employee base; can you offer anyone a job-share
program? Do you have office staff who would relish the idea of a four day
workweek (often times, in the summer, referred to as “summer hours”, “summer
schedule”, etc.)? Could you create more flexibility within specific departments
that may be experiencing a slow period, offering free half days or leave early
for employees in those departments? For employers in educational fields or
healthcare, oftentimes you can open up time to employees to take a hiatus to do
research, pro-bono work, etc. Also make sure to take a hard look at
telecommuting, which is often overlooked, for those employees who need little
interaction to complete their work. Whatever the option that you look at, just
remember to tout the benefits of the added flexibility you are offering; studies show that as much as 81
percent of the U.S. workforce might be looking for other opportunities, thus the
engagement and retention of your top talent is at risk, which directly impacts
the success and sustainability of your organization. Flexibility is one of the
best tools you can use to retain and attract top talent (especially with the
Millennial/Gen Y generation), and close the skills gap.
Temporary employees, independent contractors, consultants, Co-Ops,
and more are another realm of creative staffing that every HR leader should
utilize as much as possible when economic signals create uncertainty. Typically
the benefits in hiring through these means outweigh the perceived drawbacks,
specifically cost and quality of hire. For temporary employees, make sure to develop a close relationship of mutual trust with your staffing agencies in order to get the best candidates, customer service, and pricing.
Layoffs, voluntary or involuntary, should typically be a
last resort, unless you are using a voluntary layoff in lieu of a flexible work
arrangement. However, even then, the word “layoff” evokes fear and anxiety in
employees – whether they are affected or not. Other companies, who would
otherwise be faced with a layoff situation, strategically utilize “shut downs”
or market the move as something different. Another useful tool to utilize when
faced with a layoff situation is performance management. Making sure to retain
your top talent and reduce your bottom 5% through these metrics is oftentimes
an easier outlet if trimming needs to take place.
As always, hiring while implementing these practices can
create an added layer of confusion, both for current employees and for those
being brought on-board. Best to keep communications open, and if you can, pull
from within before hiring externally, or pull from an existing temp pool. According
to recent employers surveys, most employers plan to add strategic positions, but
hold steady otherwise, leading to continue the tread of low-job growth that
began back in June.
Until next time, Be Inspirational!
1. At
its June 2012 meeting, the Federal Reserve Board of Governors forecasted the
nation’s unemployment rate to range from 7.8 percent to 8.4 percent at the end
of 2012. The National Association of Business Economics 2012 outlook survey
said they expect unemployment to fall to 8 percent sometime in the fourth
quarter of 2012.
