We Can't Hire Our Way Out...
Updated: Nov 7, 2023
While in a training a wise, well-experienced business consultant said the words “We can’t hire our way out of this…”
I’ve been pondering this statement for a few weeks now. According to the Burau of Labor and Statistics, in Aug 2022 there were just over 10 million job openings. According to other sources that equates to two openings for every one job seeker in the United States.
So, the question is not, How do we hire more people? The question is, How do we keep and respect those people we have? How do we increase their feeling of belonging? Belonging can have a significant impact on retention. According to a 2019 Harvard Business Review article, 40% of people feel like they do not belong at work… I would argue that after the tragedy of the COVID pandemic the percentage has only gone up.
According to research, high belonging can lead to a 56% increase in job performance, a 50% reduction in turnover risk, a 167% increase in employer net promoter score, and a 75% decrease in sick days. Those numbers are substantial and can have a momentous impact on any organization.
An article from the consulting company Deloitte, boils down requirements for belonging into three categories:
Comfort – individuals are comfortable bringing themselves to work and are respected for their authentic selves.
Connection – individuals believe they have meaningful relationships with team members and the organization.
Contribution - Individuals feel that they contribute to meaningful outcomes—understanding directly how their strengths help to achieve goals.
Reflection Question: What actions will I take (looking at comfort, connection and contribution) to increase the feeling of belonging among those I lead?
Topic Next Week: Train to Retain