It’s no secret that Tampa Bay has become a destination for relocating technology firms and investors. Favorable tax structures and pro-business policies are attracting these companies along with skilled employees. The region is a blossoming tech hub. And this is a boon for our area—especially in this post-pandemic environment. Regardless of the work sector, companies have had to take a long, hard look in the mirror to reassess what it takes to remain competitive—and successful—in a decidedly altered landscape.
The connection between workforce development and economic development is more apparent than ever. As the economy rebounds, we should make a priority of employee engagement which, unsurprisingly, is a reliable predictor of retention. “The Great Resignation” may have cooled somewhat, but its effects are still in play. Dissatisfied workers decide to walk when determining unfavorable circumstances don’t correspond with their career arc. Companies not investing in the essentials of their employees do so at great peril.
A recent McKinsey & Company statistic shows 40 percent of employees from all work sectors are considering leaving their positions in the next three to six months. This is astounding! How do we maintain effectiveness and keep our people content? How do we keep them engaged? Leaders should ask the right questions. Is our pay competitive? Are there opportunities for advancement? Do we communicate well? Do we reward and incentivize appropriately? Do we care for and respect our people so they feel like they belong and are valued?
Balancing the needs of a company and its employees is a tall task. It’s also one that requires constant evaluation. Our office, for example, continues to work almost entirely remotely. When productivity increased during the work-from-home mandate, I realized the team appreciated the flexibility that arose from it and performed accordingly. We’ve adapted to the loss of daily in-person engagement by scheduling monthly face-to-face meetings and activities. Leaders must gauge which conditions are best for their units most—as work teams and as individuals.
And Tampa Bay is a destination for another great reason! USF Corporate Training and Professional Education is honored to sponsor the Basic Economic Development Course for the entire state of Florida this month in Tampa. The conference will welcome professionals from across the nation studying for the Certified Economic Developer Exam. The more knowledgeable and skilled a workforce is, the greater the positive ripple effect. Highly trained employees achieve for themselves, their organizations, and communities.