Don’t Let the Elevators Stall: Strategies to Overcome Talent Shortages
Oct 08, 2024
Are you feeling the talent pinch in the elevator industry? You aren’t the only one. It’s no secret that professionals in our line of work are suffering from what’s known as a talent shortage—a lack of qualified candidates to fill current openings. It seems that the demand is exceeding the supply these days and we, as industry professionals, have an obligation to tackle this roadblock.
As business owners, we have to make the acquisition and retention of talent a top priority. We do this by planning for the unexpected and always looking one step ahead in the hiring process. I’ve experienced this as an elevator business owner and I’m sharing what benefitted me during these moments in my career.
Why are we experiencing a talent shortage?
It’s true, we are always in a revolving door of talent coming through and consistently going out. It really never ends. But lately, we can’t seem to catch a break when it comes to filling vacancies.
“The talent shortage never goes away… There’s always a need for the right talent, the right person in the right seat.”
The Elevator Entrepreneur
Vong Keovongsa, of Elevator Services Group said it best. He recently joined me on an episode of The Elevator Entrepreneur to discuss what he sees from the outside looking in as a service professional, offering HR and recruitment services for elevator businesses across the country. Vong made it clear that this is an ongoing issue and business professionals must constantly work to get ahead and stay ahead of filling their vacancies. Most often business professionals see a lack of talent acquisition and retention because of:
- An aging workforce- We are seeing a large portion of elevator industry workers reaching retirement. These are people that have been in the industry, 20, maybe 30, or 40 years. As they reach this next step, we have a lack of younger professionals entering the field to fill those gaps.
- Skills gap- As our technology evolves, so does our need for skills from potential employees. This could include automation, smart technology, or data analysis. We see more young professionals lack the training and experience to jump into these roles. These are skills that may take years to develop and perfect before they can be performed at these levels and the demand to obtain them simply isn’t there.
- Limited Awareness of the Elevator Industry- How many people consider this industry as an avenue of employment? Think about it. What was your experience with getting into the industry? Maybe you knew a friend of a friend or maybe you were grandfathered in—like me. Regardless, not enough people know about “elevator people” as Don Gelestino would put it. With this lack of visibility, it’s no surprise that fewer candidates are pursuing the relevant training and education to pursue these roles.
- Perception Issues- The elevator industry may be viewed as less appealing compared to other modern, more tech-driven sectors. When we as elevator people think about elevators, we see ingenuity, we see innovation, and an opportunity to make a difference. But to the outside world, they see a button to go up and down and a “ding” to let them know the difference. This perception may deter younger workers who are looking for dynamic career opportunities.
We have to face the facts. The world of employment is evolving and we must adapt. We are seeing more people exit our workforce than coming in. We have to look at each of these issues and consider how we can help potential candidates become more drawn to the elevator industry. We want to entice them to invest in their education and training so they can land a role that evolves into a career with us.
What are elevator business owners doing wrong?
Like many others, I felt that I needed to be directly involved with every hire taking place at Madden Elevator. I know now through experience and by working with Vong, that this may not have been the best choice for the progression and expansion of my company. It wasn’t inherently wrong, but it can always be better. I see so many others making the same decisions and then scrambling while being so short staffed. Some of these oversights as an elevator business owner include:
- Waiting until it’s too late- Vong mentions “It’s about creating a culture for why people want to work for you.” If you’re growing your business, you’re probably much more busy than you ever anticipated. Too often, an elevator business owner may put recruitment and retention on the back burner. This is one of the biggest mistakes you can make. Vong sees it all the time. We neglected an employee’s needs or overlooked their inclusion in the company culture, and now they’re leaving. On the other hand, Vong says he may see a company who has become fully staffed and no longer feels the need to keep up with recruitment, but then the latter happens and now they’re left searching for breadcrumbs to find more potential candidates. Never stop your search for talent and do your best to make sure the talent stays. Remember, as one door closes, another one opens (unless the proper maintenance hasn’t taken place), but that’s another story.
- Not investing in recruitment- One of the best things I ever did was make the decision to outsource my recruitment. As a business owner, you have to decide what needs your direct attention, and what you could be more hands-off with—both for the sake of the company and for your sanity. Working with Vong to have an outside view of what my company needed, redirected my perspective of the role I played in recruiting. Giving the job of recruitment to an employee who already has 16 other things on their plate, may not be the best decision. Giving someone the sole job of recruitment, whether it be in-house or outsourced, is a better investment.
- Not willing to adapt to change- Complacency is the enemy of progress. We have strayed from the long-time tradition of referrals. Even Vong says the concept of referrals is dried up and that some companies may realize it later than others. We have to be willing to accept change in our techniques of recruitment and be open to new technologies that may help us find candidates.
Where do we go from here?
So we’ve seen what’s causing the talent shortage and what we could be doing differently as business owners. So now what? We figure out our next steps, our game plan, and we go from there. Here are my best practices to overcoming the talent shortage:
- Create a system- Whether it be a multi-step interview process or a series of assessments, we must create a system, stick with it, and modify it as we go. Vong says his clients see the most success with a multi-step interview process. It may take some time and involve multiple rounds of interviews, but you are weeding out the best of the best by choosing this route. His recommendation is a minimum of 3 interviews per candidate, but I’ve even done 5. This all depends on the role of the job and the expectations of the potential candidate. Remember, slow and steady wins the race.
- Invest- Invest in your people, invest in their training, and their inclusion within your company. We have to take care of the ones we have before we can take care of the ones we’re recruiting. Employee retention is an ongoing effort so be sure to focus on developing relationships with employees and taking care of their needs. As for recruitments, invest in a talent acquisition position, either in-house or outsourced. By giving this job to one sole person, they can help you find candidates in ways you may have not considered and they can revamp the hiring process as needed to combat the rising rates of turnover.
- Stay informed- Just because you may be more hands-off of the hiring process, does not mean you’re not involved. Vong taught me that waiting until the end of the interview process to introduce myself to a candidate saved me time and disappointment. Even though I did not participate in the initial recruitment process, I still feel like I was able to begin those relationships with candidates in the final stages before hiring them on. This took a lot of stress off of my shoulders. I knew where a candidate was in the hiring process without worrying about what came next. If I was meeting that candidate, it’s because my trusted talent acquisition specialist felt they were ready. Know your role in terms of recruitment as a business owner and always stay involved.
We know that juggling our clients, dealing with operations, and all the specifics in the industry are hard enough without worrying about if we will have the people we need to get the job done. Finding the right people in this age is becoming increasingly difficult and it needs to be a topic of discussion. I said it before and I’ll say it again. As an elevator business owner, we have an obligation to be proactive in the process of recruitment and an obligation to our current people to give them what they need to be successful and keep them in this industry. Whether recruitment and retention is a top priority directly correlates to the success of a company. This is true for any industry.
“The only thing your competitors cannot duplicate are your greatest employees… They are your greatest asset.”
The Elevator Entrepreneur
Don’t wait until it’s too late to start vesting in your elevator business. Here are my 3 takeaways to overcome the talent shortage:
- Invest in your recruitment process and invest in your people. Take care of them so they can take care of business.
- Stay involved in your recruitment process without being hands-on by outsourcing or hiring in-house.
- Create a system and make adjustments when needed. Always stay a step ahead in the hiring market.
If you’d like to watch more of what Vong Keovongsa has to say about the revolving talent shortage, click the link above or watch the full video on Youtube.
As always, stay safe out there, and I will continue to empower my fellow Elevator Entrepreneurs.
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