Patiently Waiting or Analysis Paralysis?
There is a high level of business uncertainty in the UK at the moment with Brexit and IR35 dominating headlines. Organisations reluctant to recruit, procrastinating on decision-making processes around PSL/supplier reviews, and hesitation in pushing the big red button to take action.
In the face of this uncertainty, there's a convincing argument for investing (time and money) in new partners to look at improving internal processes - whether that's exploring new ways of working to highlight process efficiencies, monetary savings that may be realised by conducting workforce audits, or creative but simple methods of talent acquisition.
Speaking with external partners who can advise what your "as-is" state is and then discussing what your "to-be" looks like will help you shape a gap analysis on what needs to happen to achieve this desired state.
- Where do you need to invest? ATX? CandX? RecruiterX? Onboarding?
- What does your internal talent pool look like? Have you got somebody who did a marketing degree and you are advertising a marketing role? Is your next hire right under your nose?
- Is your attrition going up or down? Are certain departments showing higher/lower attrition that your
- What are the trends in the market? Common skills? Upcoming skills? D&I?
- What are your key business goals this year? How do they differ to last year? What is driving that change?
- Which universities produce the most relevant talent for your key hires? Could you instigate a partnership? Apprenticeship providers?
This list of questions is literally endless but demonstrates a deeper conversation that could be had around creating/designing your TA strategy. In my opinion, you have to embrace a collaborative culture both internally and externally to transform your business so you can "accelerate through the curve".
I've stolen the analogy from motor racing in an attempt to describe picking the right approach to a curve or bend in the "business road". When racing drivers approach a turn, they have to slow down, but how they approach this curve will make all the difference in how they come out from it. If you pick a good line and then you partner that with timely acceleration, you can come out with far more momentum. Partner with your supply chain (current or potential new partners) and you may emerge from a period of uncertainty in a better place...
The parallel in business is that in the face of heightened and rising uncertainty, the steps you take now will have a big impact on your ability to withstand whatever may come. The right approach could set you up to pull ahead of your competitors.
The market is a moving, living thing and waiting for the next period of calm may be too late. Your competitors may have already taken action and be coming out of their curve in a stronger place whilst you are still picking the "best line" enter it.
Is it time to take action?
Collaborative working practices, sharing and being open to new ideas is the best way to accept that we are part of a very different business landscape than we were 12 months ago, and it will be different again in another 12 months' time. How agile are you when it comes to change?
- How can what you do today shape how your business grows, retains talent and prepares for change?
- Do you knuckle down and ride it out? Or do you open the communication lines and talk to new partners about what they are experiencing in the market with fresh eyes and use this information to your advantage?
If you want to discuss what 2020 could look like for your business, or if you need a second opinion on some ideas you've had, please get in touch and I'll ensure that you get the advice and support you require.
"The greatest danger in times of turbulence is not the turbulence - it is to act with yesterday's logic." - Peter Drucker