In case you haven’t heard, there’s a skills gap happening out there. And, chances are, you have already felt, or soon will feel, its effects. According to education site noGRE.com, the American Society for Training & Development (ASTD) defines a skills gap as “a significant gap between an organization’s current capabilities and the skills it needs to achieve its goals.” For employers across the country, that means the majority of available workers just don’t have the skills required for future growth.
Even more troubling than not being able to find skilled workers, though, is the reality that employers are having difficulty keeping the skilled employees they already have. The Wall Street Journal’s Market Watch highlighted several prime examples that were revealed by a recent New York Fed survey. Approximately 30% of manufacturers and services firms surveyed report “it’s become harder to retain skilled workers in recent months.” And, roughly 37% of manufacturing firms and over 45% of service providers “expect it to become even more difficult to retain skilled workers over the next year.” Holding on to top talent is now even more of a crisis than finding the talent to begin with.
There’s Too Much at Stake
According to Forbes, last year the Department of Labor reported the average tenure of a U.S. employee was only one and a half years. Because of this rate of turnover, and the overall difficulty in finding skilled workers, employers need to be prepared for the negative impact unfilled positions could have on their businesses. One study found that, of the companies surveyed, a third experienced a decrease in employee morale, almost 25% saw a loss in revenue, and nearly two out of 10 saw additional turnover as a result of open positions. With everything else businesses are dealing with right now, employers really can’t afford those types of setbacks. So, the bottom line is in order to remain successful, you have to retain your employees, and that means you’d better make sure your employees like you.
It’s Personal
Being liked by your employees might sound petty, but it takes on a whole new light of importance when their feelings toward you become the deciding factor in whether they stay or go. According to The Business Times, a recent Gallup poll of more than a million employed Americans confirmed the number one reason employees leave is poor management. Of workers who told CareerBuilder they had no intention of leaving their current employers, more than half cited liking the people they work with, and more than 30% indicated having a good boss as factoring into their decision. Now, there are certainly several key reasons that can cause employees to leave, but leadership is one you can control.
Check Your Likeability
Ironically, being a business leader can at times blind you to the fact that everything really does boil down to relationships – and not just between you and your customers. Your employees are who you ultimately need to like you. And, really, being likable isn’t that difficult. A recent Inc. article about the top habits of likeable bosses highlighted their characteristics of being friendly, available, flexible, positive, dependable, grateful, and compassionate.
It’s really pretty basic. Treat employees how you want to be treated. Or, better yet, treat your workers how you want them to treat your customers. If your employees like you, then you’re going to have less turnover. A lower turnover rate means fewer empty positions and maintaining the number of skilled workers you already employ. And with less effort and time being required to replace employees, you can refocus those resources on developing the workers you have to grow your business.
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