How To Navigate the Perfect Storm of Staff Shortages Jun 8, 2022
In stats released by ABS in April 2022, one in every five businesses, i.e. 18% of the companies in Australia, were suffering from staff shortages.
Additionally, global supply chain issues have contributed to rising inflation, exacerbating enterprises’ staff shortages.
Small and medium enterprises were more likely affected than large businesses as most could not find qualified staff for their teams.
Despite the easing of restrictions and opening up the border for overseas candidates, there is no quick fix to the problem of staff shortages.
So what can make businesses more battle-ready to mitigate staff shortages?
Enhance Retention Rates of Existing Staff
The pandemic induced Great Resignation has been an eye-opener for employers and taught them the greater importance of employment perks. Amidst staff shortages, employers must try their best to get creative and compensate their team with more generous employment perks. A better monetary and non-monetary compensation package increases the chances of retaining the existing team and improves staff morale and quality of services. Losing team members only further compounds the staffing shortage issues for businesses. Your current team is your best asset goes without saying!
Plan and Schedule Work Better to Reduce Stress on The Team
When a team is under pressure due to staffing shortages, the existing team is often required to work additional hours, which further increases the pressure and well-being of the current squad. Scheduling tasks in advance for the team and planning workflow enables more flexibility in teams in managing work pressures. Scheduling can play a crucial role in staff retention at a time when there is pressure on the existing team to deliver more.
Take Advantage of Automation
Invest in automation, especially for process-driven tasks, to reduce key person dependence and free up time for the team to focus on core tasks. Automation does not need to be complex; there is various low hanging fruit where automation is concerned. However, in a staff constrained environment, automation can play a critical role in reducing pressures on the existing team.
Invest in Cross-Training, The Team
When companies are short-handed, training the existing employees for multiple tasks and roles can allow team members to grow and reduce the impact of staffing shortages. In the long run, cross-training also allows a manager to understand the potential of their team and how opportunities can present for the team’s growth in role and functions.
With Covid, resourcing is no more local; resourcing is now global for SMEs and can provide a vast resourcing tap for mitigating staffing shortages and reducing cost pressures. Outsourcing in the current environment offers a critical competitive advantage for businesses looking to navigate these turbulent times. Outsourcing reduces key person dependence and leverages time differences to expand time frames across which services can be delivered.
Mitigate your Staff Shortages with SBA
The Team at SBA has been assisting businesses and professional services firms ( law firms. Accounting firms, and financial planning practices) since 2010 with bespoke outsourcing solutions that complement the in-house team.
SBA understands that outsourcing is not a one-size-fits-all proposition and is bespoke for every business.
Mitigate your staffing shortages by deploying team SBA. As a result, you will adopt a critical competitive advantage.