If you're a leader hiring in a tight job market, there are four things you need to do to make life easier for yourself.

Hiring in a Tight Job Market

March 7, 2022

Good morning! The affective domain celebrates spring! while there are zero empirical data to support the exuberance. Here in Central Minnesota, it’s reportedly headed once again to below-zero temperatures later this week. Have you had the experience?  You’re in the grocery store, a large one, and you cross paths ten or fifteen times with the same person? What’s that all about?  What are the odds, given let’s say 100 shoppers, dozens of aisles, nooks and crannies, and 50,000 GSF?

  • How about that big boat in the North Atlantic carrying 4,000 luxury cars — now with its cargo at the bottom of the ocean?
    • I haven’t purchased a Porsche recently, but if a basic unit averages $75,000 (U.S. $), that’s $300,000,000 of cargo lost.
    • Almost one-third of a billion$!  On just ONE boat!  And how about the pollution?  Who will clean this up?
    • There were a few hundred Bentleys, too — and those are maybe double the cost of a Porsche.
    • Keep an eye on this interesting disaster.
  • There are thousands of books about cleaning, organizing, purging, simplifying, and the feng shuis.
    • Someone should write a book on the joys of hoarding.
  • What are you reading?  Black, White, and the Grey, (Bailey and Morisano, 2021)
  • Love him or hate him — or somewhere in between — read Bill Barr’s new book, One Damned Thing After Another, (Barr, 2022)
    • Whenever an author is excoriated from nearly all 360 directions it might be a good time to read for yourself… and then many other books on the same subject.
  • Hidden Cash around the house?  (Paxton, Etc., et al., 2022)
    • Cash has been found in toilet tanks, freezers, bookshelves (classic), sock drawers, in the linings of coats, under the floor boards, hidden amongst the groceries — and of course, in the cookie jar and under mattresses.
    • If YOU have the job of managing and settling an estate, don’t just clean and toss… search creatively and thoroughly first.

Hiring in a Tight Job Market

  • “The number of (U.S. citizens) quitting their jobs is the highest on record; employers must expand their search pools and increase the speed of hiring to effectively compete for talent.”
  • “The winners in the competition for talent will be those who employ a ‘test and learn’ strategy and using a rigorous ROI lens when evaluating ways to improve their hiring process.”

Four Takeaways for Hiring in a Tight Job Market:

  1. Speed up your hiring process
  2. Apply a rigorous ROI lens to candidate targeting
  3. Differentiate your benefits
  4. Re-evaluate and/or revise job requirements; (The section above from Chansler, Etc., et al., BCG, 2022)
  • (Remember “Hire Slowly and Fire Fast?”  Might no longer be the correct watchwords.)
  • “Executives are looking internally to address talent gaps.”  (McKinsey, 2022)
    • Fifty-three percent (53%) report skill building within the organization as opposed to seeking outside talent and/or other approaches.
  • According to M.I.T. Sloan, “Feeling respected” is far and away the most important predictor of organizational culture.
    • More than double the consequence of whatever is in second place.
  • It’s not about the office, it’s about belonging.  (McKinsey)
  • “It actually doesn’t take much to be considered a difficult woman.  That’s why there are so many of us.”  (Goodall)
  • All relationships are impossible — some more so than others.
  • “Great vision without great people is irrelevant.” (Collins)

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