The story is all too common these days:
- “I can’t find quality employees.”
- “I can’t find hard working people.”
- “I need a different skill set than the candidates my recruiter is sending.”
Where have all the good employees gone? Short answer, they have gone to work –just not with you. They went to work for the organization that approached filling their open positions differently and, more importantly, they matched hiring these employees accurately with how they predicted the employee market would react. Sounds hard, huh?
Understanding the ever shifting employment market is critical as talented employees provide a much needed competitive edge. So how does an organization stay ahead of their employment market, accurately predict positive and negative trends, and then adapt quickly in order to secure the best employees? Here are three simple things you can start doing today to ensure you leverage the employment market to your benefit.
1. Ask more of your recruitment team
Your recruitment partners (whether internal or external) have the most real-time data on what the market can bear. For every slate of three candidates they provide, they have likely spoken to four times that number. Those twelve candidates can produce a variety of input regarding other competitors, your brand reputation, benefits, flexibility in schedules, compensation, etc.
Rely heavily on your recruitment team to provide this data to you on a weekly or monthly basis including the trends they are seeing and what recommendations they may have in order to capture more of the market. A monthly meeting to review this will help you predict any upcoming market shifts so that you can plan and adapt your recruitment and hiring strategy.
2. Stay educated through industry publications
Now that you have consistent feedback from your recruiting team, it is time to pair that with your industry and its’ trends. Get connected with quick and easy to consume publications on your industry. Have them emailed to you daily or weekly. What is affecting your industry on a large scale? Regulations, current administration, outsourcing, cost of goods, etc. will not just affect how customers view and react to your product, but how potential employees will view and react to your company and industry.
Informed with your industry trends and coupled with your “boots on the ground” market data, you are better equipped to consider various recruiting, hiring, training and retention strategies that your competitors may be reluctant to try.
3. Keep an ongoing balance between business needs and the future market
When considering business and operational changes, be sure to test it against your current and future employment market. For example, prior to purchasing higher racking for your warehouse, ensure your market can support hiring enough quality forklift operators. While building racking up may make operational sense, you will lose if the market doesn’t have the employees to do the work. When that is the case, jump back to step #1 and find out what is required to attract and retain those associates. Does the increase in hourly wage, benefits, vacation or schedule still outweigh the efficiency gain from higher racking? If the answer is yes, then make the needed adjustments and proceed.
While your business needs increase and stay demanding, your employment market will shift multiple times a year. Always consider if the employment market can support your operational change prior to proceeding. If it doesn’t, consider the cost implications to attract and retain those associates prior to executing the decision.
These three simple steps can be infused immediately into your schedule and will provide you both a micro and macro view of the employment market, compared to your industry and then tested against your business and operational needs. When this is fully understood, your organization will be better equipped to adapt and evolve your recruiting and hiring strategy to stay of ahead of the hiring curve. And THAT is a competitive advantage!
About the Author
Jill Kuhlman is the Vice President of Staffing Leadership Group, a complete human capital provider for the logistics industry with offices in Ohio, Southern California and the Great Lakes Region. Jill has over 11 years in the talent acquisition space and focuses on a consultative approach and partnership which is redefining today’s staffing industry. Jill is based out of Columbus, Ohio and can be reached at: Jill.Kuhlman@StaffingLeadershipGroup.com , www.StaffingLeadershipGroup.com