In the job market, companies are challenged to find leaders with the skills to impact the success of an organization. Lack of capable leadership is evident at all levels of business and is an ongoing issue faced by organizations. Currently, in our nation’s labor market, low unemployment rates have been paired with a lagging labor, which forces participation and a growing skills gap. This makes it difficult for businesses to find qualified candidates for all types of roles.
To overcome these issues and remedy leadership gaps, we recommend implementing a leadership strategy to help your organization succeed. Below we have highlighted some of the best practices.
Know Your Future Leaders
Within the next few years, millennials will make up 50% of the workforce, and as baby boomers continue to retire, there is a need to target this demographic. Millennials have a specific set of criteria when it comes to an ideal career path. For example, having the option to have a flexible work schedule and an amiable work culture. Empowerment is a key tool in attracting and retaining millennials within your organization.
Write Job Postings That Give Leaders a Reason to Apply
When writing a job posting, it should be clear and concise. It is important that the candidate understand the requirements for the job. Incorporate details about your organization’s culture and highlight the achievements. Maintaining a good level of communication with the hiring manager is ideal so that the posting receives a good number of responses.
Understand the Need to Nurture
Often executives are already employed and need a reason for a career change. Engaging with potential candidates is not always immediate and can take some time. Most candidates will become familiar with your organization by reviewing the company’s website or social media profile. It will take a few instances before an individual applies for a position. Maintaining a relationship with passive candidates can help reduce the time to hire.
The new definition of an executive is a thought-leader that inspires commitment. The gap in executive leadership is difficult for most organizations. Another challenge that leaders are facing is the ability to manage change. The role of an executive has progressed and requires the talent of a highly skilled individual. Implementing a leadership strategy is the best way to overcome the leadership gap. Leadership strategies will help improve an organization’s bottom line while meeting long-term goals.