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Adapting to the New Workforce: Attracting Top Talent
Episode 368
We're excited to bring you insights from a recent interview with Tim Fulton, President of Small Business Matters, Vistage Chair Emeritus, and Executive Coach. Tim is a returning podcast guest and a favorite among our listeners, bringing his wealth of knowledge to help you attract and retain top talent in today's evolving job market.
Labor Market Insights: Navigating the New Normal Tim starts by addressing a common observation: "Most business owners would tell you the labor market has improved over the past 12 months." This improvement is particularly notable for small and mid-sized companies. Businesses have adapted post-COVID, finding innovative ways to attract candidates from diverse backgrounds, different markets, and varying levels of education and skills.
Flexibility is Key: Adapting to Workforce Needs A critical trend highlighted by Tim is the increasing need for flexibility. Companies are shifting from rigid work schedules to more adaptable models, such as offering hybrid work options and flexible hours. Tim emphasizes that the question shouldn't just be about remote vs. in-office work but rather, "Do I trust my employees?" This trust-based approach focuses on outcomes rather than the specific logistics of where and when the work is done.
Embracing Modern Work Policies: Unlimited PTO and Remote Work Pre-COVID, concepts like unlimited Paid Time Off (PTO) and remote work were often dismissed. However, Tim believes that with the right employees, processes, and procedures, these policies can be effective across various businesses. The modern workforce, especially younger employees, highly values remote work options, making it a crucial aspect of job listings today. As Tim puts it, "Today ⅔ of employees are knowledge workers and work from home. The train has left the station, we are not going backward to office life as we knew it."
Crafting Compelling Job Listings Job listings must reflect the current job market's demands. Tim suggests including clear expectations regarding work location, flexibility, and growth opportunities in the description and the job results in the job heading. Additionally, platforms like Indeed, LinkedIn, your own company's website, and local colleges/universities are excellent for reaching a diverse pool of candidates.
Effective Interview Strategies: Finding the Right Fit During interviews, it's essential to assess if the candidate can perform the job, fit within your company culture, and work well with you. Tim advises using behavior assessments and post-hire evaluations to ensure you're making the right choice. Group interviews can be beneficial when you have multiple strong candidates, and using a scorecard can help in making objective decisions.
Ensuring the Right Hire: Comprehensive Evaluation To confirm you've made the right hiring decision, involve various stakeholders in the hiring process, conduct thorough reference checks, and use behavioral assessments to gauge the candidate's fit within your team.
Conclusion: Prepare to Transform Your Hiring Process Tune in to the latest episode of Scaling UP! H2O to dive deeper into these insights and more from Tim Fulton. This episode is packed with practical advice and actionable strategies that can transform your hiring process and help you secure top performers for your team.
Timestamps
01:00 - Trace Blackmore asks you to submit your show ideas
04:00 - Upcoming Events for Water Treatment Professionals
08:15 - Interview with Tim Fulton
59:00 - Closing thoughts with Trace
1:06:25 - Drop by Drop With James McDonald
Quotes
"Most business owners would tell you the labor market has improved over the p
Published on 1 year, 6 months ago