TIPS TO FIGHT THE TURNOVER TREND (2021 SPECIAL EDITION)
Turnover is becoming a critical issue for many organizations across the globe. The furniture industry is no exception. I continue to hear from CEO’s and HR executives across the furniture verticals all giving me examples of severe front line worker shortages. I’ll just say that nobody right now is bored with their jobs. In fact, the impact on companies is severely stressing HR and board rooms.
These titles above are trends that have developed rapidly and are almost perfectly aligned with the return to work and full business openings from Spring 2021 forward. Just type in the words “worker shortage” or any of the subtitles above and you’ll be able to quickly see that nearly every publication from LinkedIn, WSJ to HR Magazine/SHRM, Forbes, INC, and many others have all done articles highlighting this unprecedented wave of turnover.
Is it a Tsunami? Only time will tell the full story but judging from the number of calls I am getting about front-line workers, it’s really impacting many small to medium-sized businesses. According to the most recent LinkedIn Talent Blog, this April, a record 4 million Americans quit their jobs. In July, nearly as many did the same. But here’s what’s interesting: A new survey by Adobe of 5,500 workers globally found that this voluntary exodus is being driven mostly by the youngest workers — millennials and Gen Zers.
Rather than dwell on why it's happening, let me quickly summarize some best practices to help to address it.
The Quick List:
Conduct Stay meetings - with all key employees
Make a connection with your employees and foster a great culture in doing so. What goes into a great stay meeting, don’t talk too much about the company, just make the employee know it's their chance to have a conversation with you and make a connection...
Say Thanks
As CEO have you had a chance to personally express thanks to those that stuck with you (your company) through COVID.
Recruitment
Recruiting in Furniture companies has always been a high priority, however, I would upgrade it now to include this topic at every meeting.
Offer Flex Schedules
With all the people that are available why not for example if you're in retail...be the retailer that actually gets it and no longer requires working every Saturday and Sunday just because...fill in the blank.
Measure Turnover
Ask every department to explain the primary drivers of turnover, start to measure it and it will make your organization stronger still after this wave is over.
Hire Fast
Time is everything in today’s hiring process. If you don’t have a fast app or an easy form field on your website allowing candidates to drop their resume and fill out a quick form field with very basic information - now is the time to invest in your career page. Did you know that if you contact someone within 15 minutes of applying for a job that some studies show you have a 70% greater chance of getting the interview? Speed is everything in sales - and let’s face it recruiting is also selling the opportunity.
Referral Programs
these programs just flat out work if you put the effort into them. Static programs never work but proactive and marketed plans driven by each department manager work. Refine, refresh and reboot!
Recruitment Channels
Think of recruiting in channels much like we view marketing to customers. From my POV you can no longer run most dynamic businesses on the availability of only full-time workers.
Perennials
A nice name for skilled older workers - these are people that have high skills and many want to continue to contribute, albeit with more flexibility and fewer hours.
Part-Time
Sometimes called the Gig worker today there are so many ways to create a schedule that incorporates a part-time workforce.
Retired alumni
Within the many multi-generational businesses in home furnishings, there is an untapped network of folks that left the workforce and they know your company. Leverage them for referrals and even see if they have had a change of heart sitting on the front porch. Perhaps a return to work would be that change of scenery they were looking for.
Remote Work Options
Millennials and Gen Z are rejecting the old work models. If you don’t offer it, they will find someone who does. It’s really smart to extend remote work options to those positions that are not customer-facing? I can tell you from firsthand experience that my spouse works harder today and puts in more hours than when she went into the office. She misses the office and will return to work someday, however, most likely in a hybrid model. Her company has discovered how productive remote work can be.
REWARD
Last but not least have you rewarded those that stuck with you during the pandemic? What a great time to make a one-time contribution (profit sharing) to the 401K plan or make sure they get a special bonus for all the extra work of being part of short staff. If you really want to send a message that you care, consider extra time off to really promote work-life balance.
Hopefully, this quick list will help you and your team to focus and hopefully reverse the tide and the trend and get back on your hiring toes versus feeling like you are on your heels.
Want more hiring tips?
Bill O’Malley is President of Connector Team Recruiting a firm headquartered in Charlottesville, Virginia specializing in the Furniture | Appliance and Sleep verticals. Connector Team is an affiliate office of MRINETWORK, Philadelphia, PA. Connector Team is a full service Search Firm offering permanent placement recruiting and interim staffing solutions.
Feel free to contact Bill at bill@connectorteamrecruiting.com.