Advising Your Clients through the Talent Shortage

Advising Your Clients through the Talent Shortage 2560 1707 Balance Point Team

As the economy recovers from the pandemic, attracting and retaining talent is becoming increasingly challenging for business owners. In fact, 61% of small employers are reporting a staffing shortage.

At the center of the discussion is the Great Resignation. Due to the uncertainty caused by the pandemic, many employees who would have otherwise quit their jobs during that time did not. The predictions of Texas A&M University professor Anthony Klotz, who coined the term in 2019, are coming true and the workforce is now playing catch up. According to the U.S. Department of Labor, during the months of May, June, and July 2021, nearly 11 million workers quit their jobs. And the trend is expected to continue.

Compounding the labor shortage are the number of employees who have chosen not to return to work due to childcare issues, fear of getting sick, or to collect unemployment benefits.

Tackling the Talent Shortage

Whether you are advising a client who is experiencing a talent shortage, or struggling to fill positions at your own firm, there are ways to increase your odds of building a steadfast team. Here’s how:

Get creative with recruiting efforts

Employers should position their brand so that candidates want to apply. Begin by defining your company’s identity and having a clear mission. Utilize social media and your website to promote your company values, culture, and people. Job descriptions, when written with a creative flair, are a great tool for enticing candidates to join the team.

Focus on the employee experience

Fair and competitive pay are essential, but to get an edge employers must demonstrate flexibility and a willingness to invest in their employees’ growth. The pandemic has magnified employees’ need to find an employer who is supportive and cares about their health, offers flexible working arrangements, tuition assistance, and opportunities for them to learn and grow within the company.

Simplify the application process 

Candidates expect the technology they use to apply for a job to perform like the technology they use in their everyday lives. They want the ability to apply across multiple platforms and will abandon lengthy job applications that require entering the same information twice. If you are interested in a candidate, progress to the next step right away. Don’t lose talent to a complicated application experience. Build an efficient process that shows applicants that you value their time.

Acclimate new hires quickly

Once hired, it’s important to get new employees acclimated and working quickly. Onboarding software can help with the administrative part of the process, so the focus can be on setting your employees up for success. A learning management system can assist with training efforts by providing an efficient way to create, deliver, and track online training across your entire workforce, even those working remotely.

Provide Value, Build Relationships

With the right tools and processes in place, organizations can effectively hire within the current business climate. By keeping on top of trends in HR and providing value to your clients you solidify your position as a respected business advisor. If you don’t receive our regular email updates, click here to subscribe.

 

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