David Aplin Group

Look around your office. Chances are that several of your colleagues are retiring within the next year or two. No problem, you say, you can fill those positions easily. But what happens within the next few decades when, according to Statistics Canada, half of the entire population of Canada will be over the age of 43.6 and only one-quarter will be under the age of 25? Who will you then promote up the ladder? Moreover, knowing that your competitors will be faced with the same labour shortage, who will you find to fill those entry level positions left vacant on the bottom rung of your organization?

This is a serious issue facing large and small companies alike. Filling gaps in the future doesn’t mean just having a succession plan in place; it may also mean having a “concession” plan. Ask yourself what you’d be willing to give up, or compromise on, in order to attract the best talent. Making concessions on the qualifications, and being willing to train and develop, can pay off in landing great people.

Another concession that companies may have to make revolves around the work week, both in the total number of hours worked and the actual daily schedule. More and more, we’re hearing candidates say they’re tired of working fifty or sixty hours a week, every single week. .As well, they’re looking for flex time. If they want to start at seven o’clock in the morning and leave at three-thirty, why shouldn’t they be able to, even if their boss doesn’t keep those exact same hours?

Other companies, both in public practice and in industry, are starting to offer perks and bonuses unheard of a decade ago, or to concede minor issues that may be important to a candidate. Some companies are waiving the waiting period before benefits kick in. Others are routinely increasing vacation time from two weeks to three, or three to four, depending on seniority. Signing bonuses are becoming more popular tactics to land the best people, and not just at the executive level. Apart from monetary incentives, more companies are providing “lifestyle” perks on the job. Intuit Canada-makers of Quick Tax and other software programs-offers staff lounges with big screen televisions, pool tables, and snacks, along with a full exercise facility, barbecue decks, and office windows that actually open to the fresh air. (Yes, it’s true…they also have nap rooms). Is it a coincidence that Intuit has been named one of the Globe & Mail’s “Top 50 Best Companies to Work for in Canada”?

Does all this sound like employers bending to the whims of employees? Perhaps it is. But if you don’t do it, your competitors might. Younger generations are more able to state exactly what they want, and then get it.

The bottom line is, if you think human capital is truly the most important investment in your organization, then aggressively plan to recruit and retain the best people. And stay away from clichés. In almost any job advertisement in the paper or on-line, you’ll see most of the following:

• first class organization
• friendly, dynamic environment
• challenging work 
• exciting career opportunities 
• competitive package

Believe me, every one of your competitors can advertise the same thing; it all depends on how one spins it.

Studies generally agree that less than 25% of all available jobs are advertised. Well, the same quirk holds true for the best candidates. Of all the candidates in the market for a new job, less than 25% of them will “advertise” themselves (in other words, directly apply to a job). Most of them are gainfully employed and are not in a hurry to make a move. These are the star performers, and while they’re not in a hurry to make a move, they will do so if you, as the new employer, can offer what they want.

So, as we move toward a growing labour shortage, how will you be able to attract these star performers and beat your competition to the employment punch? One answer might be: concessions. Talk to these star performers and convince them that you want not just any warm bodies to fill the chairs, but that you want them. Find out what it would take to coax them across. Throw out the old attitude of “here’s our mold, now let’s find someone who fits it.” Make concessions on the job description you have already. Let these star performers write their own “ideal” job description, and then work with them to massage it into one that works for your company. Give up the notion that employees will routinely put up with a fifty or sixty hour work week. Concede smaller contractual items when possible in order to make staff feel valued. Spend a few dollars to add physical workplace perks that employees-especially younger ones-seem to enjoy…and in the coming years, may feel entitled to.