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Labor Problem: Labor data from the US Bureau of Labor Services indicates that 600,000 to 900,000 career vacancies are attributed to the greater-than-average mismatch between the skills employers seek and those that are available in the market.
This startling data, coupled with the growing concern for the cost of a mis-hire is enough to cause a business leader to initiate damage control. Another key factor affecting the employment life cycle is the latest data released from Towers Watson – less than 30% of employees are actually engaged in their work. If these statistics are real, this means 70% of employees are just going through the motions and doing the bare minimum to get by; for a growing organization committed to expanding this simply wont work.
Labor Solution: If you want engaged, happy employees you must attract & hire people for jobs that are a good match for their motivations, values, behaviors, and competencies. While you can teach certain competencies to a person capable of learning, you cannot force an outcome with someone who is not interested in producing it. Hire people who are driven internally to do the work you need them to do, in the time frame you need it done, for the type of customers you serve. At KeenHire we call our hiring process Conscious Hiring because it causes both the candidate and the employer to be conscious to what they need and want out of a role.
Labor Problem: A 51,000,000 and growing deficit of available & qualified labor shortage. As more cutting edge opportunities are arising every day, and less people who are qualified and interested in doing the work the opportunities require, companies are scrambling to attract the best and brightest. Many companies are resorting to hefty sign on bonuses or retention packages for the highly skilled, top performing employees. However, many of these same employees who accept the benefits report they are not engaged or excited about the company and the services they provide. They sign up for the role only for the money, and when more money shows up elsewhere with a better platform to display their talents, they are gone.
Labor Solution: Know why people come to work for your company and why they stay. Learn about what makes the younger high tech, millennial generation tick, put yourself in the shoes of a Gen Xer and figure out what matters to them, because often what matters to you is quite different. Once you are clear who your ideal employees are and which generation they fall into, craft a Retention Strategy and Employee Value Proposition that attracts and retains the people you need.
Next Step: If you are compelled to position your company as a leading employer. If you are in a highly competitive industry, seeking highly skilled people for customer centric roles and the life of your company depends on the people inside, schedule a Talent Strategy review with one of our Consultants. In 30 minutes, you will identify the biggest areas of concern and be advised on potential solutions.
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