PROFESSIONAL DEVELOPMENT
Is your organisation offering today what employees want now?
James Moorhouse, ABN Resource
The workforce today has higher leverage when deciding what role they want to play in the workplace and which organisations they are willing to spend their time with on a daily basis, whether for short or long-term tenures.
At ABN Resource, we focus on lubricant, additive, and base oil hiring across the globe. We are seeing a highly competitive hiring landscape in 2022 and 2023. It is typical in European, USA, and APAC markets for top performers to receive multiple job offers. We are also witnessing very strong counter offers where employees get more salary and promotions to stay with their current employers. Whilst accepting a counter offer rarely works out as hoped for the candidate that elects to stay, it still leaves the hiring party losing out on that new recruit. Counter offers are a scenario to be aware of when managing your hiring process successfully.
In this article we offer some suggestions on talent strategies, based on our recent lubricant industry hiring trends research, to help engage and retain high-quality candidates.
Skill shortage remains a challenge There are amazing and skilled people in the lubricants industry. But the supply of personnel is not meeting demand. Skill shortages continue to be a key concern for many lubricants related organisations. In recent years, the majority of companies have raised compensation to both recruit new talent and keep in-demand existing staff, all while managing inflationary pressures on costs of living.
Employees expect pay to be commensurate with their work responsibilities. An increasing number of employees are prioiritising organisations with a compelling vision and mission, that provides staff with work that is challenging and meaningful. A large number of employees also want a clear path for professional advancement.
Our research taught us that learning and development is a key criteria for retaining existing industry personnel and would be a very effective attraction tool for employers. This requires companies to give staff access to 3rd party industry training, company in house training, mentoring and coaching schemes.
Value alignment becomes critical In order to attract and retain quality personnel, companies should deliver an effective external communication strategy that explains what makes their company, and the lubricants industry, a fulfilling and rewarding place to work.
This is done by developing an employer brand talking about your mission, values, culture. Top talent wants to work for firms with a clear mission, and values that align with their own. Employees want to be part of cultures they believe can provide personal fulfilment.
The lubricants industry has a great story to tell. It plays a critical role in keeping the world moving, delivering efficiency and impacts daily life for a global audience. Lubricants can be a key part in sustainability and energy transition initiatives to improve the environment. Although there are some exceptions,
Continued on page 46 LUBE MAGAZINE NO.174 APRIL 2023 45
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