Getting the Most Out of Your Workforce

Whether your business is trying to trim excess spending or trying to make do with a smaller staff and a diminished workforce, you need to get the most out of your workforce. 

Businesses faced a range of challenges brought on by the pandemic. From supply chain and inventory disruptions to operational disruptions and rising material costs, doing business in a post-COVID marketplace is completely different. One of the biggest challenges in the wake of shutting down the world is related to the workforce.

Recruiting Challenges 

Businesses of all sizes and in every industry are continuing to report that by and large they have more openings than they have capable and willing employees. It seems that the post-COVID workforce has never quite rebounded to pre-pandemic conditions. Perhaps it’s because people got a taste of a different kind of work environment and can’t bring themselves to get back to previous employment agreements. Perhaps the market’s fluctuating performance and overall business volatility has people less inclined to make professional moves. Whatever the reason, recruiters are trying everything they can to get new employees. It started a year or two ago with signing bonuses and incentive programs. It continued with starting wages skyrocketing and changing performance standards. 

So What Can You Do to Build Your Workforce?

Value the Quality You Have

As an employer, make sure that the employees you currently have who have shown loyalty and demonstrated quality in their work are rewarded. Encourage their continued performance with financial incentives, performance acknowledgements, and extra communication. 

Leverage Relationships 

Encourage referrals from those members of your team who are performing well. The best way to replicate the quality you see in your people is to find the people they spend time with. Your high performers know what you’re looking for in employees. 

Rethink Your Needs 

Some companies have decided that they’re better off throwing out their previous playbook. They’ve made remote work possible where it was once out of the question. They’ve turned one full time job into two or three part time jobs. They’ve hired contractors instead of employees. The more you can think differently about what things need to look like, the more you can focus on the goals and not on how you get there. 

When your business is struggling to find and keep capable employees, it’s hard to envision the future of your company. Not only do you not hold leverage with your workforce to incentivize performance and keep their loyalty, you’re limited in your ability to make plans for expansion, growth, and change.