Recruiting top talent has always been challenging, but one thing that makes it even more difficult today than before—how we work has changed. More and more companies and their employees are going remote, working from home, or otherwise redefining the workplace to be more flexible and accommodating of how people want to live their lives. Employees have the ability to work when they want and where they want, which means your company may need to offer better perks, give more autonomy, or offer ways for people to earn compensation outside of their job to lure top talent in and make them want to stay there.
Economic Downturn
Recruiting top talent has become increasingly more challenging. In the economic downturn, many people were laid off and unemployment reached a peak of 10%. As a result, many employers have difficulty attracting talent. The unemployment rate has steadily declined since then, but it still remains high at 4.5% as of September 2016. With this high unemployment rate, talented employees are finding it difficult to find jobs and employers are struggling with how to attract them.
Lack of Job Security
In today’s job market, workers are looking for more than a paycheck. They’re also looking for job security, and as the economy continues to struggle, it has become increasingly difficult for companies and business owners alike to provide that in a reliable fashion. To make matters worse, when they do manage to find someone with the skills they need, they often have trouble competing with other companies offering higher salaries. In short, top talent is becoming more difficult and expensive for businesses of all sizes to recruit.
Increased Competition
The reason it has become more challenging to recruit top talent may be due to increased competition. It is now easier for job seekers and employers alike because of the internet. Job seekers can search for and apply for jobs from anywhere with an internet connection, while companies can post their openings online. This leads to a situation where more qualified people are available than positions available, which means employers have to compete harder and offer better benefits, higher salaries, etc.
Changing Priorities
Work has changed. People are no longer committed to a company for their career but rather for what they can get out of it in the short term. Due to this reality, employers have had to change the way they recruit talent. Instead of hiring a person and then finding out what their needs are, employers now focus on hiring people with specific skills that can be used immediately and rewarding them for their work.
The War for Talent
The more competitive the market, the harder it becomes to recruit top talent. The widespread use of social media has made it easier for employees and professionals alike to learn about opportunities for advancement in other organizations. This poses a challenge for employers who are trying to entice and retain talented individuals, as they may be battling with multiple competitors simultaneously. It is also worth noting that technology has changed the nature of competition between companies.
Accurate Staffing Consultants is committed to improving the lives, businesses and careers of people we serve. For this reason and more, people feel confident placing their trust in our group of companies – specializing in light industrial, office, healthcare and managed services. We offer a comprehensive range of solutions to your staffing and talent management needs. Reach out to us today to learn more.