Investing in Your People is Investing for Tomorrow
Posted on Mar. 7, 2022 / Subscribe 0
For years, even before the pandemic, we had all heard about the looming workforce crisis with the large number of Boomers retiring, leaving a skills gap. The pandemic didn’t do us any favors and has intensified that skills gap with not only Boomers retiring in record numbers but also Gen Xers proclaiming as Twisted Sister sings, “We’re not gonna take it” and retiring early. Just in my industry of water utilities, it’s estimated that close to 50% of the current water utility workforce will be retiring within the next 5 years. While many young adults were able to find work in 2021, they are accepting low wage jobs in food service and retail with limited advancement opportunities that aren’t even able to cover their basic needs. Looking at these factors, I believe we can all agree that we are about to experience a massive skills gap if we are not prepared. Closing those gaps from WITHIN an organization should be an initiative every business undertakes by investing in your people before hiring from outside. Let’s think about this: You have employees who already know your organization’s culture and customers. If they have the potential to acquire the skills with some strategic reskilling or upskilling, it not only saves you time and money from recruiting and onboarding, but many times you will see increased productivity and an improvement in retention and a more resilient workforce. It boosts morale…Employees WANT to learn and are seeking development opportunities! Ready to start? Make sure to put your people’s needs first to boost adoption by giving your employees paid time to learn and encourage them, avoiding any mandates. Those employees who feel supported and have the right skills and training feel more confident and are more likely to share their experiences with others, and we know how well the coconut wireless works here in Hawai’i! When your company has a great reputation of investing in their employees, joining your team becomes more attractive to job seekers.
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