This three-part series explores management insights from Robert Half’s own leaders inspired by our e-Book, The Manager’s Guide to Uncertain Economic Times.When economic uncertainty is causing companies to conserve resources, postponing investments in employee development may seem like an effective cost-cutting solution. But for organizations large and small, now could be the optimal moment todouble down on employee engagement and invest in employee training and professional development opportunities.Whether economic times are stable or volatile, AI and other emerging technologies don’t wait for employees to adapt to new tools and processes. Michelle Reisdorf, Robert Half district director, believes companies should invest in their employees in good times and bad. “It drives innovation and helps keep your employees engaged,” she says. “In uncertain times, employees get anxious. Taking the time to help improve their skills through continuous employee development builds confidence and shows you want them here for the long run. Investing in them will ease their minds.”Cost to hire is another reason to never stop developing the talent within your organization — no matter what’s happening on the outside. Ty Smith, director of permanent placement services for Robert Half, suggests, “You lose a lot when you lose someone who knows the job. Backhiring is expensive, time-consuming and a morale-killing burden to the employees left to pick up the work.”
Managers can create a corporate culture where learning and upskilling is built into the job description. But they need to give employees some control over the when, how and what they learn. Reskilling and upskilling efforts should align as closely as possible with personal goals and interests and be infused with feedback and recognition.But with employees stretched so thinly across workplaces these days, it can be a big ask for them to invest time and effort to pursue additional learning. “That’s why managers should start with understanding their individual employees’ ultimate goals,” says Reisdorf. “For some, it’s climbing the career ladder; for others, it’s a bigger paycheck. Ultimately, if you understand what their ambitions are, you can help get them there with a development plan that fits both the company's and the employee’s needs.”According to Robert Half research, almost a quarter (23%) of currently employed job seekers say they are looking for a new position because their employer offers few professional development opportunities. So, it’s not surprising that employees are now asking for training proactively.Younger employees especially are looking for ways to advance quickly. “Managers have a great opportunity to engage and guide talented young people,” says Reisdorf, “Which means sitting down for frequent discussions on what it will take to advance their skills, upgrade their titles and build a career.”The enthusiasm of the younger generation could be the driving force for creating a continuous learning culture in an organization. But every employee will appreciate support and opportunities to future-proof their career during challenging times.Employers can tap offerings including formal instruction courses, tuition reimbursement and third-party programs, of course. But creating a learning culture doesn’t have to be complicated, even on a budget. Consider these tips from the Manager’s Guide:Organize forums, like workshops and team meetings, to give space for employees to stay current on industry trends and emerging technologies and make it easier to learn from colleagues.Deliver year-round learning opportunities through low- or no-cost webinars, workshops and online courses. When possible, subsidize employees’ costs related to professional certifications and advanced education.Be rigorous about providing the same development opportunities to hybrid and remote workers as those present full-time onsite.Set up mentoring opportunities so individuals proficient with specific tools or skills can teach others. Keep in mind reverse-mentoring arrangements, where newer employees advise more-tenured colleagues on skills they’ve brought from the outside.Make sure soft skills aren’t being overlooked as part of these development efforts.Once you have a continuous learning culture up and running, employees should have ample opportunities to share with others what they’re discovering and what they think about it. Create a variety of channels for your team to present their ideas and concerns, such as employee surveys and departmental meetings. Great ideas can come from anywhere, but you’ll miss out if you don’t offer a chance for everyone to share.
Managers may worry about spending on employees’ training only to lose them to competitors like we saw during the Great Resignation — most commonly for a higher salary. “That’s a risk every employer takes these days,” says Smith. “But that’s what the market is showing. In my world of finance and accounting, people are moving on average every three to five years. So, when we talk about managers investing in employees, we’re talking about money and benefits too.”Robert Half’s research among job seekers shows two-thirds (66%) are looking for a new job because they want a higher salary and 35% cited better benefits and perks as a motivation.Even if you can’t provide much in terms of salary hikes, be sure to identify and address any pay discrepancies in your organization. You can also assure you’re not overpaying or underpaying new hires by consulting industry resources like the Salary Guide From Robert Half.Even if employees leave in a few years, your investment in employee development had helped them improve their performance and enhance their contributions. You might consider they may have left sooner, without those contributions, if they were never given a chance to improve themselves and move closer to their goals.
Ineffective communication can cause even more uncertainty among your team. Remain open with them about changes, challenges and whether the organization’s priorities are changing.“Employees will always want to understand the ‘why’ surrounding a change or situation, and they’ll appreciate any metrics and qualitative information you’re able to share,” said Smith. “They’ll feel like they are part of the organization’s progress and productivity, and more invested in themselves. That’s when you start to see employees supporting changes and even offering ideas for moving forward.”Employee listening is a significant element of investing in engagement. “I think Robert Half’s semi-annual employee survey is a great example of listening to employees and acting on what we hear,” says Reisdorf. “As leaders, we always find ways to respond quickly with solutions and improve employee engagement from the feedback.”Reisdorf and her team also conduct “think tanks” within branches and regions “where we ask teams to come up with ideas on how to change, fix or improve one or two things that are not working well. We let them be creative.” Such grassroots solution-finding can free up managers to focus on larger strategies.Look at uncertain times as learning opportunities for your staff. Picking up more skills can help ease worries of job loss because they expand the roles workers can take on in the future.This also reflects positively on managers. “They know the better, more agile their people are, the easier the manager’s job will be, and frankly, the better they look,” says Smith.If your organization truly values a workforce equipped to face the challenges of an ever-changing business environment, the choice to continue investing in employees’ talent and engagement should be automatic.Robert Half can help you find the managers you need in uncertain times.See more from Robert Half’s Manager’s Guide series:Managing in Uncertain Times: Addressing Well-Being and Building TrustManaging in Uncertain Times: Seizing Opportunities in Change
