June 30, 2016 |
In our industry we hear it all the time. “Doesn’t anyone want to work?” “Why is it so hard to find good employees?” There are a lot of potential answers to these and related questions: a declining lack of work ethic, a rise in government benefits, factors that decrease the motivation to work rather than increase it. Some or all of these answers may be true but are debatable.
The truth is this: There are more jobs available than there are workers to fill them.
It’s shocking to hear but that is our reality in 2016. America is getting back to work. We are accustomed to hearing this regarding highly skilled careers but it has now become true for unskilled positions as well. As business owners looking to hire, what are we to do about it?
You’re not being a humanitarian, you’re responding to a shortage. Supply and demand is not on your side in this case. Walmart discovered this and started raising their starting wages well above the minimum wage. We should all be following suite. It stings at first but you will save money in the long run by running your business at full capacity and retaining good employees. It is always cheaper to retain than replace.
Money is not the primary motivator for every employee. In fact, for the current generation entering the workforce you will find them more interested in work-life balance and whether they can have Fridays off. What you scoffed at before might be what you want to consider today.
If you anticipate you are going to need to hire, make the decision sooner rather than later so you and your business are prepared for the time it may take to recruit. While you used to be able to advertise a position and get multiple qualified candidates right away, in today’s market you may have to wait patiently for the right candidate to come along. And you may only have one. Give yourself time so you don’t make a bad hire out of desperation.
If you find that one, hire them. Even if you don’t have other candidates to compare them to. If you wait you will lose them to another job quickly. We are seeing candidates offered jobs within 24 hours of their interviews, if not sooner.
You are busy running your business, the thing you are an expert in. Get rid of the stress of recruiting and following the ever-changing labor market to an expert in the field. Staffing agencies are in the business of employment. All the things we have listed above, they should know. And already be doing. They will track the market and keep you up-to-date on what you need to change in order to attract the talent you need. Make sure you are partnered with a reputable agency that not only knows what they are doing but attracts top talent themselves.