The technological revolution and speed of innovation is transforming the workplace at a rapid rate. Within this disruptive landscape, organizations are managing myriad challenges from global supply issues, rising operational costs and inflation to a talent shortage.
1. Facing a talent and skills shortage and an economic crisis
Post-pandemic, there have been record numbers of job vacancies. This has increased competition in the job market for employers, as skilled and experienced workers can be highly selective about their next move. Offering higher pay and benefits is one tactic to secure top talent, however, it is financially unsustainable and could make existing employees feel underpaid. Compensation has a role in talent strategy, but organizations need to use different levers, other than pay to attract and retain talent. One of the most effective incentives is work that offers development and challenge as it increases workers’ value and gives them an opportunity to meaningfully improve their lives at work and beyond. This approach can also… [Download full version to read more]
Your role in helping people achieve their full potential
A key part of your role as manager is to coach and guide your team to help them understand, clarify, and progress their career goals and achieve their full potential. Coaching is a collaborative and supportive relationship involving mutual trust, reflection and exploration. Through a process of discovery, goal setting, and focused action, it can facilitate extraordinary outcomes.
Specific ways you can support team members include:
Create a supportive and empathetic environment that’s conducive to meaningful conversations
Ensure everyone on the team knows their role and what they contribute to the company’s overall objectives
Help each team member understand what it takes to get promoted to the next level
Support each team member to create a focused and stretching personal development plan that enables them to optimize their strengths, improve weaker areas and performance limiters and explore challenging opportunities outside their comfort zone
Provide encouragement, recognition, and confidence building, ensuring people feel valued, supported, and empowered
Provide timely and constructive feedback on both areas of strength and opportunities for improvement
Offer practical advice and help with career topics such as networking, mentoring, career opportunities, how to earn a promotion, recovering after a professional setback, etc.
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