Learn. Connect... Grow Your Business
Look, we’re all in a lot of trouble here. If you haven’t heard, the world’s labor market is changing. Boomers are getting older, there are not enough young people entering the workforce, Automation, Asian imports, blah blah blah….
When I sat down to write this, I considered how I could add the most value. Well, I can do that by doing what I know how to do best. Think outside the box.
After all, that’s a Franchise Entrepreneur’s job. You can find a lot of the same tired answers in any other article in any other publication. But here, we’re going to swing for the fences. Let’s do some crazy out of the box thinking.
Go Offshore. The talent you need may be waiting desperately to get into our country. Why not sponsor them? Anticipated immigration levels in our country won’t keep up. But what is there stopping you from contacting the consulate of a country - one that has the skill set you know exists - and offering a job to a skilled employee? Have them sign a contract for a set time if you need to, but why not make it happen?
Pay for their education. Remember the TV show “Northern Exposure?” A small town that had no hope of getting its own doctor raised the money to pay for an underprivileged kid to go to school. In exchange, he had to be the town doctor for 10 years. Hilarity results, but hey – can this work in your situation. Why not?
Hire the underemployed. Immigrants to our country who have degrees that won’t transfer. People who’ve been passed over for positions somewhere else. Moms re-entering the workforce. Retired but not ready to stop working – the list goes on.
Retired Military. Worried about committed employees? If these men and women don’t have commitment, I don’t know who does. How do you find them? Contact military bases and talk to the Discharge Office. And why not contact military bases all across the country – who wouldn’t like to live in your town?
Outsourcing. If you are having trouble with a certain part of your business, why not outsource it?
Sell your business. Have you thought about getting out of your business? Why not sell it now? As time goes on, more and more of your competitors will be on the market as they get older and decide to sell. Think about being the first.
Give away the company. One piece at a time. It only makes sense that your staff will stick around longer if they own a piece of the pie. Structure it with your lawyer. It’s amazing how your company will change when your staff shares in the profits. Don’t be surprised if they suggest single-ply in the bathrooms!
Automate. Let me ask you this. Is it possible for you to automate part of your process so that you don’t need as many people? Go to the biggest tradeshow your industry has and see what the options are! Talk to other Franchisees – like yours or not – and to Franchisors. Find out!
Become a better Leader and Manager. Maybe the problem isn’t the people you hire and lose, or the people you can’t find – perhaps it’s you. Have you invested in your own skills to learn how to be a better manager, how to hire better people, how to keep them around?
The situation is real. We are all facing a shortage of skilled and unskilled labor. The old saying goes “We can’t solve problems with the same solutions that caused them”. So start brainstorming some new solutions.
By: Dominic Rubino