My skills shortage is clipping my entrepreneurial wings. Help!

Dear Aunty B,

When the world looked like it was going to end at the beginning of last year, I was forced to cut back on staff. I had to let go several managers and a few up and coming juniors. We also delayed taking in our usual intake of new staff.

It was premature and we actually did better than budgeted. I am now really regretting it. Now we want to expand but I have had to put several projects on hold which is incredibly frustrating. I run ads and no one answers or the quality of applicants is so low they are not even worth an interview.

We have also been holding performance reviews and several of our senior team have indicated that they plan to retire in the next few years. When the GFC was on, the media ran huge headlines scaring the life out of us all. But this is a far greater threat to the spreading of my entrepreneurial wings. Yet when you raise it with people they shrug their shoulders as if to say “skills shortages”… what can you do?

Fed up,
WA

Dear Fed up,

Well, you’re okay. I read on Friday that your premier is going to run a huge advertising campaign to try and lure all our workers over to WA!

Look, I couldn’t agree with you more. It is a national scandal that is going to have a huge impact on all of us. Every boss out there feels your pain. What we need is a pollie to stand up with a new plan: not the Education Revolution but a Skills Revolution.

Now I can bang on about what needs to be done but I’ll do you a favour and focus on you.

First of all, decide to change your attitude. You will no longer get frustrated by this but see this as a competitive advantage.

Do you get frustrated when new gadgets come out? No. You want to get it first so you can move quicker/better than competitors.

Apply this same hungry attitude to staff. How are you going to get really good at hiring, skilling up and retention?

You need to reallocate time and your manager’s time to deal with this.

It is also going to cost you more. You are going to have to add to your training costs, technology costs (staff like new technology) and your retention costs (bonuses).

You are going to have to think way outside the square and understand how employees’ needs are changing so you can offer them flexible solutions.

And you need to make sure that all managers know that staff retention and development is a major KPI for them.

You also need to make sure that work is fun so get set for the masseurs, fitballs and snooker tables to return to the office.

Lastly, make sure that your older workers feel particularly valued. Talk to them about ways they can keep working for you. Can they work from home, part time, job share? How do you keep them involved?

Good luck!
Your Aunty B

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