“It’s very challenging to find individuals for job placements, especially ones with any type of experience.” Travis Lane, CEO, Rock Exotica. Wall Street Journal, February 2, 2017.

If you have been involved with hiring in recent times, you probably have had a difficult experience. It takes a lot more work to find qualified candidates now than at any other time in recent memory.

At Payday HCM, we recruit on a large scale every day, and appreciate how the market has changed recently. We screen all of our applicants thoroughly, and hire or refer less than one percent of the candidates that we see.

The current labor market is tighter than it was before the Great Recession of 2008. There are many people seeking work, and it is not uncommon to get hundreds of resumes in response to a job posting, yet finding skilled candidates is harder now than it has been in a long time.

WSJ Chart of Labor Market

We often hear that highly skilled technical positions are especially difficult to fill, but in fact the gap exists all across the professional board. The biggest drivers of job creation in the U.S. are entry level and experienced hourly jobs, and the pool of high-quality available candidates is low. It’s not just a low unemployment rate, the labor participation rate among prime age workers is even lower than it was before the great recession.

I recently read the Wall Street Journal article Skilled Workers Are Scarce In Tight Labor Market [subscription required]. It offered some strategies for hiring in the current labor market, along with ideas and tactics which you may find helpful. Here are just a few:

Some companies struggling to find applicants with technical skills have had success with:

  • Offering relocation packages for hourly employees with the required skills
  • Setting up scholarships at local technical colleges
  • Creating an internal training school to bring new workers up to speed.

Because Payday HCM can cast a wider net than many companies, it makes sense to outsource your staffing to a team that can find the workers you need with the skills you require starting on day one of your search.

Your staffing partners at Payday HCM are happy to help with your hiring needs. From C-level to entry-level, we provide successful direct hire, temp-to-hire, and temporary recruiting and staffing services for most fields.

Randy

Randy Richardson

Randy Richardson, General Manager Payday HCM Staffing, Search & Recruitment Services

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