Port leaders face critical decisions in 2018 as they implement plans to meet the dynamics of maritime trade. The most critical challenge for the port executive is workforce-related. The duty of ensuring that a port’s workforce is ready for success in today’s competitive environment is multifaceted.
First, the port executive needs to ensure that the staff is properly compensated. Workforce compensation in the US has not kept pace with inflation. A recent article in Bloomberg BusinessWeek noted that base pay rose a mere 0.5 percent between July 2016 and July 2017, and “total earnings, including bonuses, dropped by 0.3 percent.” That does not bode well for employers who want to attract and retain talented and committed staff. While compensation is, first and foremost, about pay, the entire compensation package (benefits, organizational bonus structure, individual performance incentives) provides opportunities for creative solutions. Proactive port leaders will challenge their human resources staff to benchmark compensation, and develop creative evaluation and compensation systems that incentivize strong performance and structure benefits systems to reward employee longevity.
Second, the port executive needs to ensure the workforce is trained, not just for the tasks they currently handle, but for the next steps in their professional careers. By one measure, the workforce challenges we confront today are a function of a lack of training — nearly half of our young people lack an associate’s or college degree — leading to an opportunity for port executives to play a key role in training the future workforce. Partnering with community colleges for workforce training is a start. Ports should also expand opportunities for extended internships and implement return-to-school training and education programs that reward current employees with opportunities for growth.
As leaders, the greatest legacy we leave those who follow is an engaged and motivated workforce, skillfully managing the challenges of today while prepared for the demands of tomorrow.