Build, Buy & Borrow Talent - Overcoming the Talent Drought

We have a talent war on our hands, finding and keeping people in our businesses has become harder. 

The pandemic blended the world of work and home in a way that has never happened. We went from sharing stories about our pets, children and partners at work to seeing them online as we held our meetings.

The workplace got humanized, we saw people in their natural environments and the concept of work life balance that we searched for, did training and coaching on simply moved to being about life.

So before you go on your next recruitment drive consider exactly what you are offering, is it competitive and who is the talent you are trying to attract into your business. 

Hybrid models enable people to work from anywhere, how you manage their work flows and productivity becomes a challenge.

And there isn’t a one size fits all. Remember we have gone from – you come into the office to do the work, to finding out how you prefer to work, overlaying that with the business needs and finding a win win solution that works for the employee and the business.

We have gone from standard workplace contracts or agreements to bespoke ones, we now need to match how the work is done to how the employee prefers to do the work. 

There is no going back, the horse has long bolted on this issue, I know many people who have said to me that if they take the flexibility away then I am leaving the job. Employers who feel that they can hold onto the “old” ways of recruiting and retaining talent will the most under threat.

If how we work has changed then how we recruit must also change and wouldn’t hybrid models actually increase the talent pool and make you attractive as an employer.

To dive deeper into this topic, I reached out to Michelle Loader who is the Managing Director of Future Leadership. You can listen to our conversation on Future Fit Leadership Podcast.

9 ways to better communicate in a virtual world – Lessons from Lasso & Barone

9 ways to better communicate in a virtual world – Lessons from Lasso & Barone 

Communication is one of the most critical skill sets you need as a leader. And it's not communicating by hiding behind a keyboard, or only when things are wrong. It is the constant and everyday conversations that have the most impact. 

I don’t know how many of you watch the Apple series Ted Lasso, if you don’t you must! The show is about an American football coach who finds himself in the UK coaching a soccer team. 

I started watching it, curious as it had great reviews. Now I am binging it and soaking in the leadership lessons. 

Lasso is an extremely positive character, even when the entire football ground is calling him a wanker (you need to watch the show) he still manages to have a smile on his face. 

Lasso is focused on the long term goals, however also very realistic about the talent of his players, he understands what they are insecure about and what their long term goals are. And because he does, he can provide feedback that supports them and ensure they believe in themselves and the team goals. 

He is comfortable being open and vulnerable and an awesome communicator. He is curious, wanting to learn more and almost an annoyingly positive outlook on life. 

Some of the lessons on this show are about, being curious rather than judgemental, asking better questions, being a goldfish – not dwelling on our mistakes rather learning from them and teamwork makes great work. 

Communication from a CEO, Director, team leader, manager can make or break that team.  It is so much easier when everyone is in the office to have a conversation while making a coffee, walking past a desk, saying good morning, in  your office, you can eyeball them, watch their body language and assess if you have gotten through. 

This is much harder virtually. If you come across as confusing, nervous and lack confidence, people will lose confidence in you and your ability to lead 

Today, leaders need to be able to communicate clearly to build connection with the company values, goals, culture, performance - not just when they are face to face, but virtually as well. 

You need to be present – “be where your feet are”, as Gilbert Enoka used to say. Listen actively. We all know how easy it is to get distracted virtually and keep everyone else connected to the conversation as well. 

All this is not as easy as it sounds, especially today in a virtual world. In Episode 2 of Future Fit Leadership we talk to Maritza Barone about her 9 communication tips in a virtual world. 

She takes us through the importance of preparation, listening, storytelling, breath, language, interaction, the pause, pace and tone and authenticity. 

Combine this with the lessons from Ted Lasso and you will definitely fine tune your communication skills.

Is this the death of a 5 day work week?

I have been following with interest the trials of the four-day work week that are being run by various groups globally.

The results are resounding; employees love it and productivity is high, as is employee engagement. Will it last and can we sustain this long term?

Let’s face it, two days isn’t really long enough to recover when many of our people are working long hours due to inefficient technology, increased client expectations, outdated systems and processes, and people not willing to drive and adopt change. All of which cause high levels of stress, unhappy clients and employees, and ultimately, the loss of people from the business.

So, would you be willing to work for a business that enables you to work four days a week, where you must do 100 per cent of the work, 80 per cent of the time for 100 per cent of the pay?

It would mean that we would potentially have less meetings, high levels of efficiency and automation, less emails, high levels of productivity, and more connection and collaboration with our teams.

Imagine what you could do with that extra day off. And you must leave your phone behind at work so you are genuinely not disturbed and those doing your work can take the calls.

However, the key for a four-day week to work long term, I believe, is our ability to keep up productivity. Can we do 100 per cent of the work 80 per cent of the time long term?

We do need to rethink the world of work; we are being challenged to do so, and the old paradigm that work is only done in the office is certainly dead.

The other consideration is, “Will remuneration be impacted long term? Will it open up the door for more job share opportunities? Could we bring more women back into the workplace part-time?”

The four-day work week trial is in play, and the results will be in over the next six months. It isn’t something I recommend you implement without these results and a strategy that involves your people.

In the meantime, here is my conversation with Michelle Rigg from Rent West in WA who is currently participating in one of the trials. Future Fit Leadership Podcast Please rate and review if you love what you hear.

2020- A year of unlearning!

Unprecedented will be the most overused word of 2020.

It has been an extraordinary year. We have experienced bush fires, black lives matter protests, Trumps tweets and election loss, the terrible explosion in Beirut, lockdowns, mask wearing, home schooling, Zooming, loss of young and old to COVID-19, challenges around weddings and funerals and the desire to ensure that we have enough toilet paper to take us into the next century.

Lining up for COVID-19 tests became a norm for 2020

As I reflect on the year that was, I acknowledge that most importantly it has given me an opportunity to slow down, stop and re-evaluate what I care about. I have created rituals, found space and been more present than ever for myself and others.

Collectively across the world we have rallied together in support of Black Lives Matter, pushing for long overdue change. As a woman of colour I have more hope today than ever before that this time we will make a lasting difference.

However perhaps the most exciting moment of 2020 was the confirmation of the first woman of colour Vice President who happens to share the same name as my mother 😊and who can forget this look. So many of us have had the same looks from our Indian mothers and aunties.

My 2020 goals are still up on my shower wall. They remain there as a sign of defiance on a year that also took away much.

It was going to be an EPIC year as far as I was concerned. I was going to have energy and focus on achieving what I wanted, increased connections with my tribe, travel and time out.

A year ago, when I wrote these, I had no idea how much 2020 would take away.

Personally, it has been a year of exhaustion, loss, heartbreak, unrelenting grief, anger, disbelief and I am weary to the bone.

The sudden and unexpected loss of my dad, a man on whose shoulders I have stood for 54 years, my hero, gone. Never to hear his voice, or his laughter, the crazy jokes or memes and to have a whisky or two solving the worlds problems.

I have learnt that grief is different for everyone, it is unrelenting yet somehow, we find ways to cope. Often through stories, laughter, tears, anger and time with those who matter the most.

Death is a lonely journey and the humanity and kindness of our front-line workers cannot be underestimated. Their understanding and my collective family is what got me through the darkest, hardest moments of 2020.

View fullsize

I miss him every day

From a business sense it has been a mix of achievement, change, unlearning and deeper connections. COVID-19 has changed how we do business and will continue to do so. Our Harcourts Move team pivoted quickly, we remained connected during the hardest lockdown, kept learning and pushing forward.

I made the decision to change jobs mid pandemic… yup I know who does that! I moved from Harcourts to Real Estate Industry Partners (REIP), we are a collective of industry leaders who are committed to empowering the industry, transform how we connect and engage with clients, providing innovations for agents and operational excellence for businesses. More on this in 2021…. many exciting projects to be announced.

With my co-host Div Pillay we launched our new podcast Business in Colour, born from Black Lives Matter movement. We are two women of colour, having conversations with leaders and allies who understand diversity is a philosophy that leaders must have. Thank you to everyone who has supported us on this journey. We are taking a short break and season two will be back on air in late January with a stellar line of up guests.  

View fullsize

You can find us on Spotify and Apple Podcasts, subscribe and share with your tribe.

One must acknowledge the other powerful lessons that have been learnt during 2020.

The pandemic threw many challenges at us however it has also allowed us to embrace change and move out of our comfort zones.

The virtual world of conferences, meetings, drinks with family and friends, walks with loved ones quickly became the norm. It was wonderful to see that we will do whatever it takes to remain connected to each other.

The currency of trust became critical, our team was able to deliver award winning results while working remotely. As a leader I had to trust that they were ok, and they would ask for help as needed.

In a toss everything we believe we cannot live without – gyms, shops, movies, restaurants – all gone. That in the end it is my own home and family that keeps me safe and fulfilled.

More importantly that I need to slow down, the pace I kept prior to 2020 was unreasonable and unhealthy. Self-care, mental and emotional health is critical, simply saying no needs to continue to be a priority.

2020 has been a year that has given me the happiest and most heart-breaking moments I have ever experienced.  I have unlearnt a lot!

Until 2021, stay safe, stay connected

Its all about Jobs!!

To quote Federal Treasurer Josh Frydenberg “this budget is all about jobs”. The Morrison Government has committed to spending huge amounts of money across multiple sectors to  boost business and consumer confidence.

Income tax cuts, instant asset write-offs for businesses and the JobMaker scheme are just a few of the latest incentives that will get the economy moving again in the first half of 2021.

And the stimulus is sorely needed, with economic forecasts predicting the Australian economy will contract by 3.5% this calendar year with Victoria feeling the impact at 7%, due to the coronavirus-driven recession.

Corelogic also predicts that the overall Australian market dwelling prices will drop by 5% between 2020-2021 with Melbourne facing the biggest decline of up to 7%.

A reduction in net overseas migration over the next few years means that our population growth will be at its lowest level since 1946, taking more than four years to recover to pre-pandemic levels, as revealed in the budget on Tuesday.

Victoria’s migration boom is now non-existent and it is having a direct impact on the housing market. Foreign students who rented apartments in the city or near universities have not returned. Investors with vacant properties are having to drastically reduce rents and provide rent-free periods to attract tenants. Overseas migrants were purchasing or renting homes in key growth areas of Melbourne and regional Victoria, but now they cannot enter the country.   

Melburnians are also flocking north to Queensland – where migration rates for the capital Brisbane are at a national high.

And we are still waiting to see the exact outcome deferred mortgage repayments will having on the housing market and overall economy. There is more than $180b worth of home loans and $55b in business lending on hold, according to Westpac Group.

No lending institution wants to be the first to start foreclosure on clients and banks will undoubtedly work with lenders to find viable loan repayment scheme.

If there is an urgent need to sell, vendors should seek out their local agents and brokers and understand how they can transact on their own terms.

But the removal of the responsible lending guidelines may help keep the market buoyant amid the doom and gloom.

Westpac is reporting  a slight uplift in lending to first-home buyers, upsizes and investors, who will soon be less scrutinized by the banks and armed with more purchasing power.

According to Vicky Devine, CEO of Mortgage Express, “there is strong appetite in consumers preparing for post-pandemic purchasing, specifically from first-home buyers and upsizes, as we reassess our working conditions (flexibly from home to office) and family values”.

She predicts that families will take advantage of conditions and make the move, seeking out more space and the ability to ‘isolate’ comfortably. .

Homeowners will also take advantage of record low interest rates and further predicted cuts in November.

As the government pours financial stimulus back into Australian pockets, it will be interesting to see how many people choose to save or spend.

But analysis aside, the bullish budget hinges on an essential ingredient – access to a coronavirus vaccine. Here’s hoping this crucial cure is found very soon.