Recently I attended National Grain and Feed Association's (NGFA) Country Elevator Conference (CEC) — one of my favorite places to connect with ag leaders, learn, and see what's happening across the industry. One presentation in particular got me thinking.
A commodities economist walked through current economic trends, including some interesting unemployment statistics. As someone who geeks out about talent strategy, I was intrigued by the trends over the last few years comparing the number of people looking for jobs and the number of open positions available.
The roller coaster we've all been on
Remember during COVID when there were far fewer people looking for jobs than positions available? Businesses were desperate. We all felt it. Productivity dropped. Managers held onto anyone with a pulse. I had countless conversations with leaders who were afraid to hold employees accountable, afraid to address performance issues, essentially accepting bare minimum effort just to keep bodies in seats.
Now the numbers have shifted. There are slightly more people looking for jobs than positions available. And guess what? Productivity has tended to go up. Managers are interacting with employees differently. The confidence is back.
Here's what bothers me about this
We've been on a roller coaster, and the labor market is driving the cart. When workers are scarce, we lower our standards. When workers are available, we raise them again. Our behavior swings and changes based entirely on external conditions we can't control.
And here's the thing — it makes sense that we adjust our business strategy based on the economy. We look at what we can control and what we can't, and we adapt. But we don't apply that same strategic thinking to our talent. Instead, we let the unemployment rate dictate how we treat our people.
Build a talent strategy that works in any market
The more we proactively build a strong talent strategy — one that doesn't waver based on whether unemployment is at 3% or 5% — the less we'll feel those turbulent swings. We'll have consistency in our business productivity and performance, even when the market shifts.
Here's how to do it:
Step 1: Define your culture and values
If you can't articulate your culture, you don't have one — you have whatever happens by default. Sit down with your leadership team and define it. What do you stand for? How do you treat people? What matters most in how work gets done here?
Write it down. Share it with your team. Then look at every decision through that lens. Providing feedback. Rewarding employees. Making hiring and promotion decisions. Who you keep and who you let go. Your culture only matters if you're willing to protect it when it's inconvenient.
Step 2: Set clear expectations
Write down your performance and behavioral expectations. Be specific. What does "good work" look like in your business? What behaviors are required? What won't you tolerate?
Then commit to holding people to those standards regardless of how many applications you have in your inbox. This isn't about being harsh — it's about being consistent. Your high performers are watching to see if you'll let standards slip when hiring gets tough. Don't.
Step 3: Create a consistent coaching cadence
While this can and should include a consistent meeting cadence to check with employees, it also includes the informal and ongoing feedback you provide to employees.
When coaching employees, provide specific feedback on what's working and what needs to improve. Ask about obstacles they're facing. Discuss their development. Make these conversations normal, not something that only happens during annual reviews or when there's a problem.
Step 4: Develop your leaders to sustain the strategy
Here's the truth: you can define culture, set expectations, and establish coaching cadence, but if your leaders aren't equipped to carry it forward, it all falls apart. Your frontline leaders are the keepers of your culture. They're the ones communicating expectations day in and day out. They're the ones having coaching conversations that either build people up or push them out.
Invest in developing your leaders to do these things well. Teach them how to have difficult conversations. Show them how to coach for performance, not just manage tasks. Help them understand that their job isn't just to get work done — it's to build a team that can get work done consistently, regardless of market conditions.
When your leaders can protect your culture, hold people to clear expectations, and coach effectively, your talent strategy becomes sustainable. It's no longer dependent on you or on market conditions. It's woven into how your business operates.
The bottom line
The labor market will always fluctuate. That's not going to change. What can change is how much those fluctuations impact your business.
Every step I've outlined above is something you can control. You can't control unemployment rates or how many people apply for your jobs. But you can control your standards, your culture, your communication, and how you develop and engage your people.
The businesses that do this well don't just survive the ups and downs—they use market shifts to their advantage. When competitors are lowering standards and accepting mediocrity because "we can't find anyone," these businesses are known as the place people want to work. When the market loosens up and competitors suddenly get picky, these businesses already have the people and culture that drive results.
Stop riding the roller coaster. Build a talent strategy that works in any market. Start with one step this week.
Want to build a talent strategy that creates stability regardless of market conditions? Submit your questions to PeopleSpark at [email protected].
