In this current climate, jobs and careers have become a hot topic of conversation and many businesses are finding it hard to find the right people for their current vacancies. More importantly, we need to overcome the talent shortage that seems to be the new pandemic in the workplace. HR plays an important part in helping businesses to find employees and in an ever-changing world, there is a need for flexibility, with the cost of living rising HR need to keep on top of the current market. This shows you how HR can help reduce the talent shortage.
Overcoming Talent Shortage
You need to find an effective way to overcome the talent shortage and one of the ways HR can do this is to make the roles more attractive and retain talent. Employees can lose their motivation because of the pressures being applied to them with high expectations of work and productivity. If you are finding it difficult in filling these roles, this is usually because candidates lack the skills required.
How to improve retention
Retaining current talent is crucial in any organisation. If employees feel that there is no more room for growth, then they will often look elsewhere and leave the organisation. Asking employees how satisfied they are in their role before they leave and finding out what changes need to be made, could help persuade them to stay in the long term. Using exit questionnaires can seek out any potential issues within the organisation. Sit down with an employee and go through their development plan, you will see what their goals are and which path they are wanting to take and where they are wanting to be in the next five years. Do they have the skills and aspirations to be part of a talent programme?
HR needs to have a good well-being programme in place. This can include many incentives such as a gym membership, private health care and a well-being app. Employee well-being should be at the centre of any organisation’s heart with the main focus being to ensure retention rates are kept and productivity is improved. These incentives are paramount to any employee as part of the overall package.
If there is a talent gap sometimes it can be filled within the organisation. The best way to do this is to retrain employees into different roles. Training programmes are built to motivate employees and to ensure everyone is highly trained so as not to suffer from the effects of the talent shortage. External candidates can also be valuable to any organisation. Linking in with universities to look at the different skill sets of the students, will help to increase the flow of graduates in any business.
A referral scheme in an organisation is a great tool to have and something that HR can promote internally and externally. Current employees can refer their friends and family whilst getting an incentive for doing so. Employees know how the business works and what is expected of them, so who else better to get talent through the door and to know the people that would add value to the company.
As the cost of living is at an all-time high at the moment, HR needs to keep up with competitive salaries and to make sure the organisation is kept aware of the current market. In doing this, employees will feel more rewarded if their salary is being brought in line with similar roles in other organisations.