As the war for talent and the Great Resignation continues, employers are too focused on outsourcing and recruiting talent instead of developing the workers they already have, according to a May 3 Harvard Business School article.
Many organizations overlook their lowest wage workers and miss out on their potential to advance them through the ranks, according to Joseph B. Fuller, a professor at Harvard Business School. He believes that organizations should try to stem the high turnover nature of low-wage jobs and instead invest in those workers to create a solution to hiring challenges.
"Employers are going to be under duress to come up with new ways to find people, since the old playbook is probably going to be insufficient," Mr. Fuller says. "That calls for an almost deductive logic — the easiest way to fill a job is to keep the person who's in it."
Companies can solve their turnover and retention problems by investing in workplace programs that create stability, clear paths to promotion and mentorship. Letting low-wage workers know that they're critical to the organization and appreciating their work and potential is also important.