With millenials taking over the workforce, the playing field has suddenly changed. Talent seekers are now finding themselves in a talent shortage epidemic as baby boomers retire. For this year, the hunt is no different. Companies across various types of industries are all feeling the shortages, and it’s being felt at every level. Having skilled talent is key, and any staffing agency needs to go for it.
What can be done about a talent shortage? There’s a few things, including being aware of who might get hit the hardest. The talent shortage isn’t going to disperse anytime soon—which means we ultimately have to adapt to it. This is how to succeed in staffing in a talent shortage.
Know Who Is At Risk
A 2016 Fast Company article found the five hardest jobs to fill by 2025 will be:
- Skilled trades, including Electricians, Machinists and Welders;
- Healthcare, including Occupational and Physical Therapy Aides;
- Manufacturing, including Production Workers and Engineers;
- Sales, including professionals with a solid combination of social and cognitive skills;
- Math-related fields, including Statisticians and Actuaries.
These aren’t even all of the industries suffering from talent shortages. The tech industry is also lacking in skilled talent to hire for needed positions.
Mold a Solid Strategy Geared Towards Recruiting
First things first: you have to develop a strategy to find the right talent when looking through a pool of people. This includes looking at passive candidates, which are those who might be looking for a job in a few months or even years. Another good way to implement a sourcing strategy is through technology, like data mining. Data mining is a great way to find candidates online through social media.
Follow The Talent
Networking is important. It’s a chance to develop connections and make moves towards getting potential candidates. Attend as many conferences and events as you can; the talent will show if you get yourself out there.
Create a Network of Reliable Communities
Besides relying on networking, it’s also important to rely on the strong sense of community. Sourcing and networking will help build your candidate pool. If you’ve built a talent pipeline, it’ll be that much easier to find the employees right for your agency or for your client. By building lasting relationships, you’re able to rely on each other for assistance.
Don’t Get Comfortable
Industries change fast and it’s good to be aware of everything going on around you. Look at the things that will affect staffing both short and long-term and plan accordingly.
In addition, it’s important that you don’t grow complacent enough to lack staffing insurance coverage, or allow your coverage to lapse. Staffing during a talent shortage can be a difficult task, and it is more important than ever to have a comprehensive Staffing Insurance program.
About World Wide Specialty Programs
For the last 50 years, World Wide Specialty Programs has dedicated itself to providing the optimal products and solutions for the staffing industry. As the only insurance firm to be an ASA commercial liability partner, we are committed to that partnership and committed to using our knowledge of the industry to provide staffing firms with the best possible coverage. For more information about Staffing Professional Liability Insurance or any other coverage, we have available to protect your staffing business, give us a call at (800) 245-9653 to speak with one of our representatives.