From its beginning, the COVID-19 pandemic has been challenging for businesses. Owners had to navigate keeping their stores open, protecting their employees’ health, and following their county and state’s regulations. Each of these issues led to devastating effects on the worldwide economy. According to the International Monetary Fund’s 2021 Economic Outlook Report, the global market was on pace to grow by 3.4% in 2020; instead, it shrank by 3.5%. Because of these trends in the business world, your clients are probably more eager than ever for staffing liability insurance. When you meet with them to review the latest contracts, offer them these tips for facing the candidate shortage head-on.
Rethink Who the Ideal Candidate Is
No matter which industry your clients work in, they probably want candidates who have all the education and certificates they need to perform their jobs. For example, if your client runs an accounting agency, his or her ideal candidate probably has at least a bachelor’s degree and is a certified public accountant. The best candidate also has a certain amount of work experience, solid references from past employers or educators, and enough independent motivation to handle his or her tasks.
The majority of each industry’s top candidates used the pandemic to explore different work opportunities, move to a more central location, or start their own businesses. As a result, these candidates are probably not applying for your clients’ job openings. Does this trend mean that your clients must lower their standards and hire anyone who applies? Of course not.
One of the simplest answers to the question, “How can staff shortage be overcome?” is to actively recruit younger candidates. While they may not have as many qualifications as their more advanced colleagues, they are more likely to be looking for work and more likely to adapt their career goals to your staffing liability insurance clients’ ideas.
Think About Training Programs
Because your clients’ candidates are less likely to have years of training and experience, they must rework their hiring and orientation programs. What essential information did new hires previously bring to their positions, and how can this information best be communicated to candidates? Your clients should consider mentorship programs between new hires and older employees as well as regular in-service training.
Emphasize Job Security
Which strategies help to resolve the shortage of workers? Offering a secure, long-term job is a great antidote to the uncertainty and temporality of the COVID-19 pandemic. Employers often hesitate to guarantee how long their employees will have jobs because they’re unsure of their financial future. While your staffing liability insurance clients shouldn’t fabricate how long they expect to keep employees, they should emphasize that their openings are career-based, not part-time.
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 (877) 256-0468 to speak with one of our representatives.