To our colleagues in learning, talent management, and talent acquisition:
What do you do when 40% of your new hires don’t last past the first 6 month “grind out” period,
What do you do when 70 Million people in the workforce have no high school diploma or some college but no degree, and may be working in high effort, low skill/wage positions?,
What do you do when you can’t find people to fill basic entry level positions and cost thousands of dollars a day due to lack of workers to run the business?
This is the reality facing many industries and companies that rely on a skilled trades workforce.
Our current U.S. education and training system is not creating the talent pipeline necessary to meet the hiring demands for skilled trades labor. The current workforce is quickly retiring at a much hire rate that the number of newly created talent. Desperate to fill positions, the wrong people get hired, they lack the skills necessary for the job, there becomes a training burden, and they ultimately quit.
In the last few years, we’ve worked with innovative companies that are working to solve the shortage problems and quickly realize that retention and talent development are just as critical to the organization. One of the areas that is most eye opening for the organizations we work with is acknowledging that traditional training models (ie. 2 years of study and $ 40K in tuition and loans) is one of the biggest barriers to retention – making student loan debt as important of an issue or the employer as it is for the employee.
We’ve created our RETAIN approach to identify key tactics for organizations support the retention and talent development needs of organizations. Particularly with the skilled trade workforce, it starts with the “right” kind of recruiting and right credentialing the role (ie. the right level of education for performing the job)
Our hope is to create a dialog with companies and industries who are serious about the need for talent and who want to engage with us to solve their most pressing talent needs.
Join the discussion:
RETAIN (Recruit, Educate, Train, Advance, Incent, Nurture)…Tactical, measurable strategies to improve retention and provide effective career development opportunities across an organization.