Google the phrase “Skills Shortage” and you will be presented with page after page of articles about the dearth of necessary talent in various industries from Engineering to Education and Construction to Healthcare.
You might be someone who has struggled recently to fill a vacant position. If so, you’ll know all about the Skills Shortage. The UK employment rate, and the number of vacancies in the UK jobs market is at record levels, the most recent Quarterly Economic Indicator from the Scottish Chambers of Commerce (SCC) tells us that a massive 48% of companies in Scotland have had difficulty recruiting and, to combat this, just over 40% of businesses are looking to increase wages this quarter.
So, when there are so many issues recruiting new staff, how frustrating must it be when one of your key members of staff drops their resignation letter on your desk? 26% of business leaders are concerned about retaining good members of staff, with 20% acknowledging a problem with a high workforce turnover.
So, what are you doing about it?
The recent Investors in People ‘Employee Sentiment Poll’ stated that less than a quarter of staff listed pay as the thing that they liked least about their current job. Whereas 40% of those surveyed said that either “no career progression” or “working hours” were their biggest issue.
Flexible working (33%), a good team (33%) and enjoyable work (34%) accounted for the things people liked most about their job. Money not mentioned at all!
Nearly half (49%) of those surveyed said that poor management is their biggest grievance.
How much are you investing in your management training? Maybe just more regular recognition of your employees’ efforts and achievements would make them feel more invested in the business.
Legendary football manager, Sir Alex Ferguson, once said, “Too many managers talk too much. The two most important words for a player, or for any human being, are “Well done.””
Well, it’s certainly cheaper than increasing wages!
So, rather than compete for the diminishing pool of suitable candidates to replace your key team member who has just left, let’s summarise what you can to make our staff feel valued enough that they don’t want to leave.
- Offer clear career progression?
- Foster a team culture?
- Offer flexible working?
- Say, “Well done”?
Written by Myles Allan, Business Development Manager, Influx Recruitment, 01592 645 755