Scarcity of Employees – Real or Hype

There is a lot of press around at the moment about the scarcity or potential employees and the diminishing pool of employees to meet the future projects and work in Western Australia. Is this Real or just media Hype?
Well looking at the figures, the ageing workforce and other key employment and population figures it is a reality. This reality is not new and is not related to a particular industry or region. Being in business is about people, everyones business is a people business. It is becoming more important than ever to look at ways in which we can improve our business by becoming more productive (through automation and better processes) and also becoming an employer where the quality employees want to work.
In this article I want to concentrate on the second part, because this is where every business anywhere in the world can improve and where there are a number of misconceptions by business owners and leaders.

Misconception 1 – Majority of employees move for more money.
Truth – Surveys of employees consistently show that only 33% move because of more money.
Where the misconception lies is that when employees are asked by their boss why they are leaving they usually say more money, because they do not want to tell them the truth and get in to an argument or burn their bridges. They may be getting more money but some of the real reasons that most employees leave are
The business did not have the culture they want to work in
They were treated with indiferrence by the management/owners
They are not happy and believe it is because of the business and believe they will be happier somewhere else
They have to leave because of personal situations not the business
 

So lets look at Misconception 2
Misconception 2 – Employees are only interested in more money
Truth – Surveys consistently show that 86% of employees are interested recognition and feeling that they are valued
If you want to become an employer of choice and be able to attract the diminishing supply of quality employees (who are probably working for someone else) then you need to start doing things for your employees that are personal to them, show them that you value them and they will receive the recognition they deserve and that is personal and individual to them. Yes you need to reward them adequately but as important as this is doing things for them personally that does not have to cost great amounts of money.
One area in which employees believe they do this is by providing ongoing training and I am a supporter of this, but do not get in to the trap of believing that providing training for them is the answer when that training is only based around improving their skills or leadership (you may feel that you are providing this as a reward but they see it as something the business should be doing for them) without also providing training, guidance and tools to assist them in understanding that the key to happiness and success lies within themselves.
Why is this important? Because happy people are up to 35% more productive then unhappy people. If you can do something personal for them it will reduce the risk of losing employees, increase the likelihood of attracting quality employees and for the business increase productivity.
A WIN – WIN situation for everyone.

Look at changing the way you view and tackle the Human Resources component of your business or Scarcity of Employees will become a Reality for your business. Far far away, behind the word mountains, far from the countries

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