Headlines around "workforce development", "leadership development" and "shortage of skilled workers" have been prevalent in local and world headlines due to the low unemployment rate. It was announced January 23, 2018, in the Iowa Workforce Development Communications release that, "Iowa's job market tightens as unemployment rate drops to 2.8 percent in December". Beth Townsend, Director of Iowa Workforce Development, indicated in that same release, "With the unemployment rate at 2.8 percent, Iowa must address the shortage of skilled workers. It will take all hands on deck to sustain this economic growth including support from our partners in K-12, community colleges, universities, business and industry, economic developers and non-profits-all of whom participated in writing the Future Ready Iowa strategic plan." There has also been increased attention in building future-ready leaders with many baby boomers facing retirement in the next five years.
The pool of skilled (and even unskilled for that matter) is the lowest most of us have ever seen. While colleges and universities are important in helping to close the gap, what about investing in existing team members and building skills of those aspiring leaders that have potential 'untapped' leadership talent? What percent of your organizations workforce may be 'exiting' your organization due to what team members may see is lack of opportunity for them for increased opportunities? How much is that costing your organization? Research states it is significant. Josh Bersin, President and Founder of the research firm, Bersin by Deloitte, was quoted in the January 19, 2017 HUFFPOST release that the estimated cost of losing a team member can range from 1.5-2.0x the employees annual salary. (Not to mention the other 'costs' of turnover.)
The hard evidence on the return on investment (ROI) to employers from employee development is often cited. For those that allow Tero to provide pre, post, post-post and post-post-post assessments, it is clear an individual's growth is significant. Significant growth for a team member, of any age, is found in the following areas:
While the list is much longer, we get the point. The ability to build 'skilled' workers is relevant to all of us. The future growth of your organization depends on it. With 25 years of experience and expertise in partnering with organizations around these initiatives, we can attest it is worth the effort and the investment. It is a proactive, versus reactive, approach. We are passionate and committed to the success of your organization. Call Ann Block at 515-221-2318, ext. 204, or email at [email protected] for an initial conversation and start preparing for the future.
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