What do you do when new competitors emerge? It used to be that the U.S. was the largest manufacturer in the world. It has been many years since Asian countries- first Japan then China became major competitors. Many US companies moved their manufacturing off shore to take advantage of cheaper labor. Then companies started to outsource customer service to other countries, then software development. Now with the changes to how we work since COVID, many companies have been working from home for over 17 months. Not just some of the work has been done away from the office, ALL of it was. Guess what? We have created new competition to the way we used to work and many of our team members have no intention of going back. How do we turn that to our advantage?
If you live in a place with a high cost of real estate like coastal California, and bad commutes, it might become harder and harder to attract talent. If you have hired a National Sales Manager in Minneapolis or a developer in Idaho, think about your existing team and how you will retain them as they too are part of a national workforce. You have to articulate clear competitive advantages so they continue to work with you. People want jobs that use their talents, and they want to like who they work for as well as being appreciated for the work they do.
You are aware you need to hire the right people for the right jobs. You have known that for a while. You need to train your leaders and supervisors to manage well and treat the workforce with respect. You know that, too. This all becomes more important now that people have so much choice in who they work for. You must think about how and where your team works. Don’t make this decision from the top down. Include your team members in the continuing dialogue. Many heads make better decisions than just one or two. Remember that there is more than one way to get work done within your company as you figure out the new way to run your businesses. Stay open and creative. Don’t get run out of town by competition that you can beat.
image courtesy of npr.org.