The worker shortage that has plagued the world continues into yet another year. Worryingly, the labor shortage is not anticipated to abate anytime soon.
In fact, Korn Ferry conducted a study that found that “by 2030, there will be a global human talent shortage of more than 85 million people, or roughly equivalent to the population of Germany.”
There is no known end date; all industry leaders must focus on steps they can now to attract top talent. Below are some key ways to do this.
Invest in Culture
Have you ever met someone who loves the work that they do? If you have, then you know the excitement they feel when they talk about their job. Their passion for their work is something that doesn’t just happen. It only occurs when the employer invests in company culture.
The best way to do so is to concentrate on becoming an employer of choice.
A few steps to elevate your company to the status of “employer of choice” include the following:
- Determine who your ideal employee is
- Figure out what perks those employees most appreciate
- Eye the competition and outdo what they offer (both in compensation and benefits if possible)
- Keep the work interesting and engaging
These steps will keep your company in a better position to be seen as the ideal employer.
Don’t Rely too Heavily on Applicant Tracking Systems
Wait, what?
Not leaning too heavily on an applicant tracking system sounds like the opposite of what most would recommend as a way to set yourself apart.
However, there is an argument to be made that there has been too much emphasis placed on applicant tracking systems in recent years. These are excellent systems for tracking applicants’ information, but you don’t want to add too many filters and end up screening out people who might add significant value.
Screening employees is fine in moderation, but always ensure that you aren’t filtering out people who may have much to contribute. This is easy to do when you become too dependent on your applicant tracking system.
Offer Flexible Work Arrangements
Love it or hate it, flexible work arrangements are here to stay. A new Gallup poll surveyed current workers and asked them about their feelings regarding remote work at their next job. 91% of workers stated they wanted their next job to offer at least some time remotely away from the office. Office managers must consider this when they review the kind of employment offers they make to new applicants.
Nearly one in three employees say they will leave their current job if their employer insists on making them return to the office. The work-from-home movement has gathered significant steam in the last few years, and it seems that momentum is here to stay.
Hire Across State Lines
Your next top employee may not be from the local area. It is possible that you may need to broaden your search to find the perfect candidate to fill the role. Some managers refuse to take this step because they are concerned about the registration difficulties and extra paperwork involved with hiring someone from out of state.
However, many of these issues can be solved easily by partnering with a professional employer organization (PEO) registered in all 50 states and handling all relevant paperwork.
Shift the regulatory burden off to this third-party provider so that you are not hindered in your decision-making by bureaucratic issues.
Find and Attract Passive Candidates
A passive candidate is not proactively looking for a new job at this time, but they are still open to hearing your offer. It is often the case that some of the best candidates come from the passive category. This is because passive candidates are often great workers who may be underappreciated for their efforts. Also, there is less competition to attract passive candidates than active ones. You may even draw a great employee away from the competition and into your organization.
Improve Employee Benefits with a PEO
The decision to accept or decline a job offer often comes down to dollars and cents for many applicants. Not only do they long to be paid a fair wage; they want top-tier benefits. One way to improve your chances of hiring the best people is to enhance your benefits program.
Partnering with a professional employer organization (PEO) can help you find better benefits at a more reasonable cost. Employers that partner with PEOs gain access to Fortune 500-level employee benefits at a more affordable rate than you could get on your own.
Incentivize Employee Referrals
Providing a bonus for current employees to bring others on board is a great move. This allows you to leverage the people that you have already hired to help get even more individuals into the fold. The cash incentive is enough to push some employees to speak with their friends and others about possibly coming to work for you.
It will still be necessary for you to go through the screening process with each of these potential new hires, but you will at least improve your pipeline of prospective hires in this way.
PEOs Can Assist With the Hiring Process
Anyone still struggling and hitting a brick wall in the hiring process should reach out to a PEO to help get them back on track. The reality is that it is incredibly challenging for employers to get the workers they need right now. Obtaining the assistance of a PEO is the way to go.
A PEO can assist with the multi-state hiring process and the day-to-day paperwork necessary to onboard any worker. They can help you offer better benefits and simply make your life a bit easier by taking some of the pressure off your shoulders so you can get back to running your business.
