Getting Employees in a Tight Labor Market Dr. Ed Shelton There are not enough young workers to fill the gap. Highly skilled employees are in short supply.

June 11, 2018. May 2018: 3.3

June 11, 2018. 2018: 55,496

June 11, 2018. Jan 2018: 51,210

June 11, 2018. June 2018: 2,902 An establishment is an economic unit, such as a factory, mine, store, or office that produces goods or services. It generally is at a single location and is engaged predominantly in one type of economic activity.

June 11, 2018. 2016: 28.5 Minutes 

Cost of Turnover – Recruiting and Training For all positions except executives and physicians, the median cost of turnover was 21 percent of an employee’s annual salary. 40,000.00 cost $8,400

Recruit Beyond the Job Board While essential they limit your access to only those candidates actively seeking positions. Spread your message with: social media LinkedIn, referrals personal connections general networking any other channels you have at your disposal Missouri Workforce Center

Develop a Recruiting Pipeline A high-quality pipeline helps ensure that you’re never without relevant candidates. Since positions often must be filled quickly, you should be proactive rather than reactive when recruiting. Sourcing qualified candidates from job boards, employee referral programs, networking with former colleagues. Once you’ve found appropriate candidates, it’s not necessary that you have a specific job in mind. What is important is to build relationships and when an appropriate position comes available, you immediately have candidates.

Tap into Overlooked Talent Pools Regional unemployment rate has dropped 4% but it’s higher in certain demographic groups: High School students (46%) People without a high school diploma (6.1%). Veterans Vocational Rehabilitation Program Partnering with job seeker services, MO employment offices, and job fairs. Probation re entry

Retain the Talent You Have The perfect blend of credentials, skills, and experience are in high demand. will they stick around long term hire for cultural character fit and then train for skills

Executive Top Concerns Time Leadership Pipeline – Leaders who can manage change, motivate, engage and inspire their workers

Gallup Survey 2019 70 % of workers are not engaged at work. 51% are looking to leave their current job Highly engaged employers see a 10% increase in customer ratings 80% would be more committed for an empathetic boss 60% want more praise and recognition from the boss 42% leadership does not contribute to a positive Work Environment 70% would like more personal time with their manager (coaching) 34% do not feel connected to their work collegues

Two main reasons for employee disengagement in the workplace are managers that are not leaders the organization does not cultivate growth and ignores talent.

To be fully engaged, employees must have: Employee Engagement To be fully engaged, employees must have: Meaningful Participation and Inclusion Treated With Respect Trust (Integrity, Skilled, Benevolence) Employee engagement goes beyond job satisfaction and is not simply motivation. The more that employees feel engaged, the better the business performance they deliver.

GCC States: Top Drivers of Engagement, Retention and Attraction Leadership is key Engagement Drivers Retention Drivers Attraction Drivers Leadership Career Development Empowerment Company Image Employment Security Pay & Rewards Benefits Customer Focus Diversity Goals & Objectives Operating Efficiency Performance Evaluation Strategy & Direction Working Relationships Leadership Pay & Rewards Career Development Working Relationships Communication Employment Security Empowerment Benefits Diversity Job Satisfaction Operating Efficiency Org. Culture & Mgmt Style Performance Evaluation Quality Supervision Leadership Career Development Working Relationships Communication Diversity Mgmt Development & Satisfaction Operating Efficiency Strategy & Direction Customer Focus Empowerment Pay & Rewards Stress, Balance, & Workload Supervision Training

How can one spot an engaged employee? Presentation Title How can one spot an engaged employee? 19 Do managers know if employees are engaged? Do you know if your colleagues are engaged? Do leaders understand the importance? Tuesday, May 21, 2019 19

Rethink Requirements Rethink your minimum requirements for each position Does the candidate absolutely need a high school degree to do the job? Could experience and skills offset the lack of a degree? Don’t make the mistake of missing out on an excellent candidate because he or she didn’t have the exact title or credentials you were looking for.

Optimize your Benefits A competitive benefits package is typically second only to salary when it comes to candidates’ wish lists for a new job. A well rounded benefits plan can not only help you retain employees, but attract new talent as well. A one-size-fits-all benefits program will likely backfire with five generations in the workplace. A targeted benefits program is the way to go.

Benchmark Your Compensation Potential job candidates are savvy and are more informed than ever about the salary you’re offering. They’ve done their homework and scoured sites such as GlassDoor and Payscale to find out exactly what they should be paid. To compete for top talent, it’s critical that you do the same. You must be aware of what the market is paying for certain positions and skillsets and develop your salary ranges around that data.

Check List Competitive wages Quality Onboarding Program Flexible benefits Have you Established a Culture of Recognition and Appreciation Do you Have a Leadership Development Program Do you Measure Engagement, Leadership quality and Employee Satisfaction Do You Have a Coaching or Mentoring Program Do you Have a Succession Plan In Place for Hi Potentials

A pat on the back is just a few inches from a kick in the pants, yet the results are miles apart