You’d better engage your people, quick!
The labour market in the European Union continues to surprise. Employment continues to rise and the unemployment rate (6.5% in January 2019) is the lowest rate recorded since January 2000, according to Eurostat.
The Czech Republic boosts the lowest unemployment rate in the European Union: 2.1%. Under 3% is generally considered a risk for an economy, because it becomes a potential threat to growth. This has become visible in the streets of Prague and other cities in the country: there are a lot of signs on the street offering positions immediately.
Organisations have major difficulties finding people and have been pushed into reducing their standards for new hires. Sounds familiar?
This calls for proper training programmes in two ways:
One: Relatively more training and guidance will be needed to get new hires to the required minimum level of performance
This sounds obvious but just try to imagine it. For starters, you lack the experience with these new hires. What is the minimum level of performance you require? What is the gap with the level of the new hires? How much time are you willing to give new hires to achieve it? What do these people need exactly? How will you organise this? How will you keep track of results?
Two: Retention of people is key
Mostly people start enthusiastically in their new jobs: proper salary, nice new offices, new colleagues and maybe some other perks. Motivation is not an issue for these new hires. But how to keep them interested, engaged and motivated?
‘The only way is up’: personnel development and career enhancement are key conditions for people to stay with an organisation. In times when it is very difficult to find new people, and other organisations are seducing your people as well, you’d better focus more heavily on keeping the ones you have, otherwise your troubles are doubled.
Therefore, training is a key element of an organisation’s success in the current labour market. These times call for better integrated, executed and managed training programmes as part of your corporate policy to hire, improve, engage and retain your people.
We at DuoTrainin firmly believe that training never ‘costs’ anything as the benefits outweigh the disadvantages, and not only in tight labour markets. Especially when the costs can be limited to the price of a good cup of coffee per employee per month.