Strategies for managing employee shortages

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How do you attract recruit and retain top talent?

What is it about your business culture or reputation that should attract more job applications? How do you engage with your employees and fulfil their career progression aspirations? How well do you communicate with your existing employees and with those whom you wish to attract to your business? What opportunities are there for your employees to learn and develop their skills whilst improving your business development?

How are you handling your talent shortage?

Have you overlooked the potential of your existing employees to fill your own skills gaps? Could you adjust your job descriptions to attract people who have the potential to grow into roll you need to fill? What could your business do in the short-term to manage what may be a short-term problem?

If you are not filling up your boat fast enough, what are you doing stop it leaking!

Many businesses under value the talent they have in their business already. The cost of replacing existing talent can include a higher salary to attract staff who leave, lost business waiting to fill job vacancies and the dissatisfaction of the employees left within the business.

  • Do you know if you have a problem of staff retention? There is a tendency for business leaders to blame the people who have left the business when the problem is how business leaders manage staff retention.
  • Do you know if you’re wages and benefits are competitive in the marketplace? A leaky boat could become a sunk boat! You may need to adjust your business priorities to prevent future issues becoming catastrophic.
  • Could better use of existing staff not only improve the business, but boost the confidence and loyalty of existing staff to stay with the business for the long haul.
  • What other changes apart from P can your business make to encourage existing staff to stay and attract talent? many people know value flexible working opportunities over higher pay and that may keep your existing staff or attract new employees.

The fuller engagement of employees in the journey of the business can pay dividends in terms of staff retention and avoidance of service quality issues.

Upskilling your workforce is essential for retaining and attracting new talent.

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You may need to change your approach if resourcing is causing business development problems. The cause of your skills gap maybe your own doing or maybe a marketplace issue. Either way your skills gap will need to be addressed if it is to stop impeding your business progress. What is your plan to fill your skills gap?

Strategies for managing employee shortages

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Mindfulness For Business Leaders

Leaders in business may benefit from learning more about mindfulness

Your not working alone!

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Lloyds plc CEO is recently reported in Financial Times to have advocated the use of mindfulness for himself and his executives.

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The pressure of life can kill you if you do not change the way you think. CLICK HERE to find out more or email editor@businessrisktv.com

The Job Can Kill You

Antonion Horta-Osorio was interviewed by Financial Times and he said the stress of the job nearly broke him within months of becoming the chief executive of Lloyds bank at perhaps one of the banks most risky times.   The bank had narrowly avoided total collapse and nearly half of it was taken into public ownership by the UK government.

The CEO had to seek psychological support and advice to prevent a possible nervous breakdown.   He realised he was not Superman and sought the guidance of a psychiatrist.   Prior to his near breakdown he hadn’t looked after his mental health enough.   He was speaking out to raise awareness of mental health problems at work.

From the CEO’s own experience he is now introducing a programme for his senior leadership team of 200 executives to make them aware of the measures the CEO learnt including mindfulness and psychological testing.   From these executives, it is hoped that the culture within Lloyds will change to prevent people further down the organisation quitting especially at a time where there is a skills shortage.

Not only could this improve the lives of all Lloyds staff, it could boost individual performance retain staff and boost corporate performance.

Mindfulness Business Training For Executives

There is a business value for mindfulness. Practising mindfulness can help prepare you to become a more effective business leader for your own benefit and for the benefit of the enterprise.

  • Become more personally resilient so the business is more resilient
  • Reduce your own stress and the potential stress on the business should you not work productively, or at all
  • Increase your emotional involvement in life and the life of your business

Work with mindfulness techniques and tools to improve teamwork and business results from more coordinated risk management practices. Develop your own mindfulness knowledge and increase the corporate mindfulness for a more resilient enterprise. You might even become a better leader with mindfulness training and development.

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