The workforce is only expected to grow 4% in the next decade. Compare that with the 1970s at 30% or the 2000s at 9%, and it’s easy to see why we’re seeing more alarmist headlines about The Great Resignation. For the first time in well, modern history, there are one and a half jobs open for hire for every unemployed American. At virtually any other point, all employers had to do was post a job online or help wanted sign and wait for the applicants. Now, everything is changing.
In response to a pandemic, professionals across generational gaps are reevaluating the why and how behind their work. An unprecedented talent shortage is clashing abruptly with a wave of Baby Boomer retirements. There’s a powerful seachange coming to corporate culture and work-life ethos, driven by a millennial-dominated workforce that’s been working through a global pandemic for two years.
They don’t want to hear about hustle culture anymore. In fact, according to a recent study, burning out and overwhelming employees and creating a toxic working culture are a couple of the most common reasons employees are leaving their jobs in droves.
The changing talent landscape is reframing how we traditionally think about outsourcing.
Empower your teams with outside expertise.
Employers are experiencing what Forbes labeled a “Silver Tsunami.” Almost 30 million Baby Boomers left the workplace in the third quarter of 2020 amidst the pandemic’s darkest days. The COVID-19 pandemic has been a driving force for the mass exodus of Boomers born between 1946 and 1964 to call it quits and put their health and wellbeing first. Many organizations are having trouble filling some of their most senior positions or eliminating them with so many leaving.
That leaves serious knowledge gaps in different areas, including supply chain, operations, IT, sales, and marketing. Bringing outside experts in these areas can help your organization achieve a competitive edge while keeping your full-time team members inundated and educated on the latest best practices and approaches.
Put out the burnout.
As hiring becomes more challenging, running leaner businesses might sound attractive to employers looking to maximize profit margins. However, attrition is expensive. Organizations must avoid burning out employees who can easily find another job with a better work-life balance—because they will. Identifying areas where your workforce can use support can help you support growing pains while empowering your talent to focus on what they know best—your customers.
It’s also essential to focus on building an engaged, connected workforce backed by a vibrant, positive company culture. When you’re navigating supply chain shortages, an agile, competitive, digital market, and running all the basic business operations through an ongoing talent gap, that’s hard to do.
Partnering with the right outsourcing organization can help you and your company leaders focus on keeping your existing workforce engaged and involved in your day-to-day work and company culture.
Take some pressure off of your middle management team.
Without a steady flow of new talent ready if and when an employee resigns, there’s a growing amount of anxiety among hiring managers juggling daily people operations, keeping teams across organizations in sync and aligned, and trying to retain talent. You might have a hard time filling new or existing positions quickly, and that’s where the right outsourcing partner can help you support your existing team members while you grow.
Identifying areas where your management team can use support can help optimize business processes and let them focus more on people management and retention. Implementing the right outsourcing strategy can enable you to scale your workforce on a realistic timeline—no matter the job market conditions.
The talent shortage has only started. How will you do more with less?
Experts predict a sansdemic for decades to come—literally translated as a shortage of people. It’s time to find strategic approaches to supporting your existing workforce to keep them and your business thriving. Turnover can be costly and devastating for small-to-medium-sized enterprises. Being able to flex and scale outside support across your business and supply chain operations can keep your organization moving through disruption and into the future—fast and strategically.
Ready to rethink your outsourcing strategy?
Unlike most offshoring partners, at Zenov, we offer a variety of services backed by a North-American-based executive office and staff. That’s how we excel in communications, and our services from logistics to marketing to technology are unparalleled, with quality guaranteed. We are ready to discuss and support your organizational needs—contact us 24/7 online.
About the Author
Joseph is a self-motivated team builder, personable business professional with an MBA in executive management and a successful twenty-four-year track record in consulting, operations, supply chain, logistics, outsourcing, and warehouse distribution. With a strong background and proven success in leading companies to peak organizational optimization, his ability to work with multiple cross-functional departments and bridge with senior management is second to none. As Senior Director and Partner of Zenov BPO, Joseph partners with companies to create sustainable operational excellence, build and manage cost reductions strategies, and implement change management with a focus on continuous improvement and growth.