By Drew Bonder, MSIO
Director of Business Services, Turning the Corner, LLC
Colorado Hiring Challenges
I’m sure that many of you are aware that the unemployment rate in Colorado was under 3% nearly the entire year in 2017. That has meant that most of the skilled workers had at least 3-4 opportunities available to them at any given time. AND, businesses are moving here in droves from San Francisco and Silicon Valley because leases are even more CRAZY in those areas. Thus, we’re all fighting for the same pool of talent, and more businesses on moving here to join the competition.
It’s All about Hiring for Fit
This means that every talented job seeker is getting a job quickly, right??? NOT AT ALL. They are looking for the RIGHT opportunity as much as companies are looking for the RIGHT person to join their team and help their company’s growth. The problem is that the job seekers and companies that are a fit are having a very difficult time finding each other. And when they do, they often don’t communicate what they need to on either side to shed light on the fact that they ARE actually the right fit.
Don’t Get Impatient
Job seekers get impatient, companies get impatient, and they settle. Settling, in this case, is a job seeker choosing to join a company or a company choosing to hire a job seeker that is not the right fit. Often, neither side truly knew how to identify what is the right fit was in the first place, but that’s a whole other conversation!! Kind of like wearing a pair of pants two sizes too small. They may have worked in the past, but now all they are doing is causing problems. You and the pants are great, you’re just not meant for each other.
What Happens Next…
What this looks like in the real world is people start job hopping every year or two or companies with high attrition rates. Either the employee has taken about all they can stand, or the company decides the employee is ‘not working out’ and they part ways. The wrong hire ends up causing a lot of fires, underperforms, or becomes toxic to the culture. When that happens, it costs the company the time others allocated to help this person, training costs, salary paid to that person, opportunity costs, possibly other employees, etc.
It’s More than a Talent Shortage
For those of you thinking, “No, you’re crazy, there’s just a talent shortage making it hard to scale my business!” Yes, that is part of it, but not as much as you think. People are being more selective these days in general and are demanding better benefits, career progression opportunities, work environments, more flexibility, BETTER BOSSES, this list goes on.
Okay, that’s a lot of stuff!! What YOU can do about this…
Before you start looking for any new employees you must know who you are as a company, why you exist, and where you’re going. Without that defined, you will never know what a “fit” is. You need to understand your culture, the role the person will play, and how you as a company will support them. Until we all start doing this, expect people to be jumping around from job to job in search of whatever it is they are looking for, and for business to churn through a lot of people and sacrificing profit, productivity, and morale in the process.
Hire the Right Way!
The GREAT thing, is it doesn’t have to be this way. We have phenomenal resources available to help you with this. CALL US! Let’s start the conversation. Call me at 720.446.8876 ext. 7 or email me at firstname.lastname@example.org