Change Now or Face Major Obstacles to Business Growth
A recent article in the WSJ outlined the trend of job openings to the jobless. For the first time in a decade, businesses will be faced with another headwind, one that if not dealt with will seriously hamper business growth - labor.
Some in the workforce now were not even around for the depression of '08...hiring managers to CEO's. Now, for the first time in a long time, the employees will be in the drivers seat when it comes to picking a place to work. While some will argue about unemployment rates and the continued real people without real jobs, this article is not arguing either way. Regardless of the reality of statistics, fact or figures, the trend creates major obstacles to business growth and businesses will soon feel the effects if they are not already.
This change is real and likely to get "worse". So what are businesses to do? Roll over and give up? I don't think so. Some would say the US needs to reconsider immigration policy. And while this may be one option, it is not a short-term solution. In the meantime, what does a business do? Change.
Change. Keep changing. Change faster than your competition. Deal with the realities of your business, your processes that are ineffective or not there at all, deal with the realities of your teams, your partners, your suppliers. Do you have the right strategy going forward? Are you considering joining forces with others? Introducing new products or services? Re-organizing to take advantage of market changes and trends? Planning for various obstacles to business growth that may happen in the future and the affect on your business?
Change creates fear in leaders, teams and stakeholders. Change creates some chaos. But Change is necessary for survival and growth.
If your business wants to look change in the face and deal with it, really deal with it, give me a call and let's explore what can be done to change the direction of your business.