Eric Friedman is the Founder and CEO of eSkill, a global leader in skills testing and behavioral assessment solutions for employers.
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The ongoing 2022 talent shortage is one of the worst in recent history. Organizations across most major industries are struggling to fill vacancies with talented candidates. This hinders their productivity and makes it difficult to rebound from the unprecedented challenges of the last few years.
Organizations can effectively navigate the ongoing talent shortage by focusing on agility and flexibility. Agility refers to a company's ability to respond to shifting market trends and business requirements and scale hiring up or down as needed. If you are exploring ways to increase organizational agility during the 2022 talent shortage, I suggest that you:
Accept the reality of the 2022 talent shortage.
The current talent shortage is just as severe as advertised, if not more so. According to ManpowerGroup, global talent shortages are at a 16-year high. During its research, ManpowerGroup discovered that approximately 75% of employers report having difficulties filling vacancies and finding needed talent.
While the 2022 talent shortage impacts many industries, sectors like sales, marketing, IT, manufacturing and logistics seem to be the hardest hit.
The above data reveals that the talent shortage is not a regional or national problem. It is a challenge that is impacting organizations worldwide. This means traditional tactics for responding will probably be ineffective. So, your company must be willing to think outside the box and invest in nontraditional solutions, bringing us to our next point.
Broaden your horizons.
During the pandemic, millions of workers transitioned to remote work. Many of these employees found remote work more convenient and less stressful than commuting to the office.
However, some businesses decided that a "return to normal" would be most pragmatic after the pandemic subsided. This push to get employees back in the office coincidentally occurred at about the same time as the most severe phase of the Great Resignation. While the desire to work remotely may not have been the only factor fueling this mass exodus, it certainly played a significant role.
You can leverage candidates' desire to work remotely to make your business more agile and fill essential vacancies more efficiently. Previously, you had to limit your recruiting efforts to candidates in your area or to prospects willing to relocate.
However, you are no longer limited to candidates in your geographical region. You can tap into a nationwide talent pool by offering remote work opportunities. Depending on your industry, you might also be able to leverage international talent. Some examples of jobs that are ideal for remote workers are data entry clerks, webmasters, graphic designers, software engineers and project managers.
Break away from antiquated scheduling practices.
Suppose you want to protect business continuity and increase your ability to withstand the 2022 talent shortage. In that case, you must find ways to make your organization a more appealing option for job seekers. One way to accomplish this involves doing away with antiquated scheduling practices and traditional Monday through Friday work schedules.
Admittedly, businesses in some sectors must have staff on-site during the business week. Some also need to ensure they are well-staffed during the weekend. However, transitioning from a five-day work week to a four-day alternative is a viable option for many businesses.
If given a choice, many job seekers would choose to work four 10-hour shifts if doing so allowed them to enjoy three-day weekends every week. If your organization operates five, six, or even seven days per week, you can still leverage this tactic with a bit of creativity. You could create a rotating four-day work schedule so that all employees enjoy one or more long weekends per month.
Look beyond salary.
While throwing money at the current talent shortage might temporarily mask the problem, it is not a viable long-term solution. There are limits to how much you can increase your pay scale, and this tactic could cause long-term problems. Furthermore, increasing entry-level salaries too much could make it difficult to offer performance-based pay incentives or raises in the future.
To avoid putting your company in a financial bind, I recommend looking beyond salary when recruiting top talent while offering pay commensurate with the position.
To determine what other incentives to offer, consult your current staff. Find out what benefits and perks are most important to them. Chances are that they will list benefits such as flexible work schedules that allow them to pick up their children from school, casual dress days and remote work opportunities. Offering these benefits costs little to nothing but can go a long way in contending with talent shortages.
Invest in your existing staff.
To address the 2022 talent shortage, the best thing you can do is proactively work to lower attrition. You can accomplish this by offering fair wages, a good assortment of benefits, opportunities for jobs in other departments and training opportunities. Investing in your team's professional development will make them more loyal to your organization.
By leveraging these tactics, your organization can differentiate itself from other companies competing for the best, most talented workers. You will be better positioned to endure the 2022 talent shortage and maintain manageable staffing levels.
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