The COVID-19 pandemic has impacted the workforce in a number of ways. However, much of this shift in worker availability was predicted years ago. There is a need for growth but too few candidates entering the talent pool. This “talent drought” is leading business owners to reassess their strategies when it comes to hiring and retaining employees.
The term “sansdemic” refers to a workforce without enough people. Right now, there are millions of available jobs in the United States. Despite that, there are record numbers of people filing for unemployment benefits. The number of candidates actually looking for work is at an all-time low. Of course, this has impacted businesses in a huge way. In fact, many employers have had to take a close look at their hiring strategies to address their needs.
Employers have had to shift more focus towards what their workers need. The next generation of employees is different. They have changing needs and, more importantly, they were the most impacted by the pandemic. Many people decided to make career changes or lost their jobs. It is necessary for employers to take the time to understand the needs of the workforce and do their best to address them. This will help you attract more candidates during the “talent drought.”
Flexibility has become important to employees. Many workers got used to working from home during the pandemic and want the same freedom to continue. If a fully remote work model doesn’t work for your company, consider the level of flexibility you can offer. Maybe you can provide them with flexible scheduling or a hybrid work model. Providing some flexibility will help draw in more candidates and retain your current employees.
Take a moment to re-evaluate your compensation and benefits packages. How do they compare to other companies in the industry? If you aren’t providing comparable benefits or salaries to other organizations in your industry it’s time to make a change. For employers, this has meant coughing up a bit more money in hourly wages, sign-on bonuses, and benefits. The payoff is well worth it though.
To fill open positions or discover new talent, you may need to look in places you haven’t looked before. When you fully embrace diversity and eliminate bias from your hiring process it will bring more talent into your network. Luckily, embracing diversity and inclusion can also benefit your business’s bottom line. Diverse and inclusive environments promote happy employees. Happy employees are more productive in the workplace.
Connecting with a staffing agency can help you address talent gaps in your current staff. With technology and demands changing before our eyes, it is important to be able to cater to your company’s specific hiring needs. Working with PrideStaff St. Pete Clearwater can help you do just that. Contact us to learn about how we can help your business meet its staffing needs.