Corporations: Adjusting to a Transitioning Hiring Pool

Detroit is confronting a significant restructuring in its core business — the manufacturing industry. This fundamental transformation means the industry will be smaller, more cost-conscious and require a different skill set

As Detroit continues to diversify its “business model”, significant changes will occur, not only for employees, but for companies as well. A couple of weeks ago, I commented on the things employees should focus on during their personal transition period. This writing briefly summarizes what might be beneficial to corporations.

During this unprecedented restructuring period, companies will eventually begin to rehire — at what point, only time will tell. While many companies are restructuring and — in quite a few cases — downsizing, the need for top-notch talent will not change. In fact, it becomes acutely important as the regional mindset shifts to a more globally-aware, knowledge-based economy. This transition means organizations will be faced with building a new-style workforce in the wake of sweeping regional changes and the inevitable resource crunch that will occur.

To this end, it is important that organizations:

1. Clearly understand the rapidly evolving business model and assess their talent pool based on these ever-changing needs,
2. Develop a “gap” analysis based on the direction of the organization,
3. Understand the type of talent required on a go-forward basis,
4. Retain those employees who will fill certain gaps,
5. Attract talent consistent with future direction,
6. If necessary, identify an executive search firm who can assist in attracting top-notch talent consistent with the future direction of the organization.

During this restructuring process, it is essential to communicate with employees. The worse thing is not to say anything. This only perpetuates fear, increases anxiety and reduces morale and productivity and right now, it’s critical the lines of communication remain open.

Adapting to Detroit’s Transforming Job Market

As we know, Detroit is confronting a significant restructuring in its core business—the manufacturing industry. This fundamental transformation means the industry will be smaller, more cost efficient and require a different skill set.

As Detroit continues to diversify its “business model”, significant changes will occur, including, but not limited to:

• Job eliminations,
• Different skill sets,
• A shifting from a manufacturing mindset to a new economy, knowledge-based philosophy, and
• A high degree of employee anxiety and uncertainty without knowing what the future holds.

What You Should Do

This transformation has accelerated recently and has resulted in lives being shaken up, careers being turned upside down and people’s comfort zones being pushed aside. To this end, the question is this…how do (ex) employees deal with these changes and what should they do?

1. Stay active: Don’t sit around the house feeling sorry for yourself, but maintain a schedule that includes keeping busy—whether exercising, to reading, to reconnecting with friends—but do not get in the habit of watching TV or staying in front of your PC all day, everyday.
2. Network: Throughout the course of our careers, we have met a lot of people—whether, co-workers, vendors, suppliers, friends, social contacts, et. al. Now is the time to begin to reconnect. You can do this by scheduling lunches, having weekly conversations, meeting in social gatherings or simply picking up the phone to say hello. You will be surprised at how many people are in the same situation as you are. Another tool for networking purposes is the internet. There are professional and personal websites where people have the ability to reconnect with those we may have lost contact.
3. Assess yourself: Think of yourself as a brand. Ask yourself the following questions:
   1. Who am I and what makes me unique?
   2. What are my strengths and weaknesses?
   3. What is my unique selling proposition or point of difference? In other words, what distinguishes me from the “competition”?
   4. What value do I bring? Unique skill sets?
   5. Why would anyone want to do business with me?
   6. Are the skills I have relevant in an ever-changing, global marketplace? If not, how will I address this “gap”
   7. Etc etc etc
4. Market yourself: How would you market yourself? Develop a personal marketing plan including a mission statement, career objectives, potential target audiences/prospective clients; overall strategies and tactical plans enabling you to promote yourself to your desired audiences.
5. Challenge yourself: Is the skillset I have relevant in a changing marketing or is there a “gap”? If so, what will I do to address this gap? Retrain? Back to school? Etc…
6. Be honest: This is an opportunity to “remake” yourself. Was I really happy doing what I was doing or was I “comfortable”. Are there other things I’m passionate about and if so, should I pursue those opportunities. Try not to go back into the comfort zone, but think about this as an opportunity to redefine yourself and your career. While there might be fear, this will rejuvenate you and present you with new and exciting challenges. In other words, open your mind and don’t be afraid of new challenges.