Running in the Dark

The skills shortage is probably the single, biggest challenge we’re all facing right now AND it’s largely out of our control.

Finding good, quality people is like playing spotlight on our own – we’re running around in the dark looking for people who don’t seem to be there.

It’s little wonder when we consider that skilled migration is compromised, the unemployment rate is falling, and presently there’s over 1000 advertised job vacancies in Mackay. The super-tight labour market is being squeezed by powerful, external forces beyond our control.

Maybe we need a fresh perspective to throw a new light.

What would happen if we shone the torch back on the things we can control, and asked quality questions of ourselves and our business? Questions like, “have we truly reached our capacity with our current team or is there more juice to squeeze?”.

If you haven’t asked this question or answered it with anything more than a ‘gut feel’, it’s time to get some dirt under your fingernails.

Put some science around it by identifying the economic driver of your business. Once you know this driver, measure it frequently and over time.

For example, in my business it’s hours. Hours drive my costs and my sales. Perhaps it’s the same for your business but if it’s not, take the time to understand what is.

Understanding the rate of productivity is a simple, powerful metric. Using hours as an example, you can measure this rate by calculating how many hours are available to be invoiced and how many hours are actually invoiced in any given time frame.

If the percentage of invoiced hours is below what it should be there’s some unlocked potential – some more juice to squeeze.

What else can we throw some light on? Perhaps it’s processes and systems. What would happen if we examined the workflow of our business by shining the light on every touch point of the transaction?

Resisting these examinations is understandable.

Shining the light on them may reveal some uncomfortable and ugly truths that demand action and intervention.

But the alternative might be like running around in the dark with a blown torch.