We are finally at the point where more businesses are being reopened. More people are going back to work and resuming their previous activities. Some organizations are reopening from full or partial shutdowns. Others are simply bringing people back to the office from being at home. Whichever is your case, a question is begged.
Are you relaunching a boat with a hole in it?
When the pandemic hit you had a profit leaker in the form of employee turnover, chronically open positions or skills gap. The leak might have been all three, a combination of the three or in a rare occasion just one. I seldom see only one in an organization. Your problem has not gotten better and in most cases has gotten worse over the last couple of months.
Seldom do organizations understand the amount of money they are currently wasting due to these leaks. They also do not realize with the right strategies, systems and implementation the leak(s) can be plugged. The hole(s) will not just be plugged for this year; but for years to come. The amount of money is staggering!
Every organization has a skills gap of some degree. Skills gap is defined as the difference between skills needed and skills available in an organization. In todays’ world, truck drivers, nurses and machinists are three good examples. These organizations are routinely running at 50-80% percent capacity in these areas. In every company I have worked with, they had at least one and routinely several positons which they did not have all the skills necessary.
Would you like to launch a bigger boat next year?
The profit leak in this case is either you are foregoing jobs or you are subcontracting. Subcontracting costs a lot more and therefore is another profit leaker. The challenge is always how to increase your skills without paying too much or having a constant revolving door. Knowing the trade-offs and how to incorporate them into your strategies is only learned by succeeding at it. I have never seen an organization succeed without help from an expert in this area.
The level of profit leak in these types of skills gap situations can easily be in the millions of dollars. Skills Gap, Employee Turnover and Chronically Open Positions can be solved for the long term. When the leaks from these areas are truly fixed, you will start to stabilize your workforce. Then you are ready to build your bigger boat.
Do you need help building your bigger boat?