If you’ve done any sort of hiring in the last decade, you’re well aware of the ongoing labor shortages that are affecting the economy. But what is really causing these labor shortages and how can companies develop prevention strategies that can keep their businesses from being overly affected by it. The reasons for the labor shortage may not be exactly what you think, which means it’s possible to keep it from negatively affecting your company. Here are six tips to get you started.
Understand the causes.
First, it’s imperative to consider what the labor shortage is not. Many hiring managers believe the reason for the shortage is a lack of available talent. But that’s not the entire truth. The upcoming shortage has a lot more to do with the changing demographics in the workplace and the transition from baby boomers to incoming employees who may not have the same level of skill.
Engage your current team.
The upcoming shortage is a train that won’t be stopped, so you need to alter your line of thinking. Do this by engaging your current team. Train team members to take over the soon-to-be vacated job. Pair newer employees with your veterans as mentors to help them gain the skills they need.
Partnering with educators.
Another strategy is to work with local trade schools, community colleges or universities. When your business partners with them, you can help shape the skills of individuals going through these programs who can become top talent for your business or industry.
Plan for a generational shift.
You should also assess the state of older generations within your organization. If you employ a number of boomers who may be facing retirement, how do you plan to handle the transition? Where are the Generation X employees in your team? How can millennials take over some of these roles? You should also keep the incoming Generation Z in mind when hiring and promoting.
Make use of contingent workers.
Some companies are handling the labor shortage by making use of the gig economy. Many people are opting out of traditional employment and working as freelancers, contingent workers or contractors. Partnering with an agency can help you make use of this talent for your business.
Consider your long-range plans.
Finally, be sure to create a plan that can take you into the next year, five years or ten years. You may need to make small or big changes in the way you conduct business to be more effective in the new transitioning economy to come. There may be restructuring that can help you avoid the pain points of the labor shortage.
Do you have a plan for the talent gap?
About Anserteam Workforce Solutions
The ANSER to your North American workforce management needs starts with A-Team solutions. Anserteam is the alliance of North American staffing and employment resources. Since 2004, Anserteam has grown to service over 1,500 locations across the United States and Canada. Are you a best-in-class staffing firm looking to increase your client base and secure a greater market share? Find out how to become part of Anserteam.