A Better Approach to the Skilled Labor Shortage
At ServiceTrade’s 2022 Digital Wrap Conference, CEO Billy Marshall presented an innovative solution to a core challenge that’s top of mind for everyone these days—the ongoing labor shortage.
The statistics are concerning. For every two techs that retire each year, only one enters the field. But demand for your services continues to grow. So what’s the play? Billy offered this 3-step strategy:
- Minimize demand work
- Sell to better customers
- Organize around the goal of keeping your techs on track
We’ll get to those in just a minute. First, an illustration…
The F1 Analogy
In case the analogy isn’t clear, your technicians are your race cars on the track. The growth and limitations of your business rely largely on the quality and efficiency of their work. But in a labor shortage, skilled technicians are a constrained resource. You can’t just go out and hire more techs. You can’t tag in another race car.
But you can innovate and build up your supporting team, your pit crew, your technology-empowered office staff and sales team. Employ as much administrative staff as you need to achieve one mission – keep the technician solely focused on doing the high-value, hands-on work that only they can do.
Watch more: Want to see how increasing your administrative and sales resources fuels growth? See Billy do the math in the presentation recording here.
3 Steps to Growing Revenue Without Hiring More Techs
Minimize Demand Work
You can’t plan for demand work. It causes chaos and throws off schedules. Prioritize maintaining and repairing equipment with routine service. If you have customers who refuse to properly maintain or repair equipment, consider cutting ties with them, raising their prices, or deprioritizing their service.
Sell Better Customers
If demand for your services is high, make room for only the best customers. Good customers would much rather sign up for your premium packages than risk their equipment failing. Good customers want predictable operating expenses, not the unexpected and unpredictable cost of demand work.
Organize Around the Goal of Keeping Your Techs On Track
Take administrative burdens off of your technicians. Invest in your office staff. Make sure that everyone in the company understands the goal and is working toward optimizing technician efficiency. Software helps you do just that.
You can learn more about growing your business despite the skilled labor shortage by watching the full presentation.