Photo by Elisa Ventur on Unsplash
Oct. 22, 2024–
If you’re having difficulty in recruiting workers — you’re not alone — so you might have to put on a new set of glasses in how you view your recruiting process and implement strategies.
To use a metaphor, it’s been a roller-coaster ride in recent years for employers and workers, alike. Inflation has leveled off, but costs and prices remain much higher — in significant double-digit percentages — than they were just four years ago.
Prior to the pandemic in a strong economy, the unemployment rate plummeted to 3.5 percent. But you’re facing a whole new ballgame.
There are more than 8 million open jobs and help-wanted signs are seemingly everywhere. In many sectors, hiring simply cannot stay abreast of the demand for workers even though the unemployment rate is 4.1 percent.
So, it’s important for employers to recruit and demonstrate a commit to better engage their employees.
Consider these five tips:
1. Review your budget.
It’s obvious your payroll will have to increase, so review your budget for the short and and long term to determine what you can do to entice workers.
That includes your pricing strategies and better measures to control your overall costs.
Analyze all your human resources policies including recruiting and evaluating employees.
As you anticipate higher payroll costs, take a sober look at your probationary requirements to determine what you can and cannot change in evaluating workers to ease your bottom-line for sustainability. You’ll want to be sure to keep the right people.
Also take a look at offering childcare benefits and flexible work schedules.
Such measures will help your chances to hire the right people to avoid mistakes. Then up your game without breaking your bank account.
2. Budget higher wages and don’t just offer signing bonuses.
Many employers have begun offering signing bonuses. But that’s insufficient to boost spirits of workers and making them content over the long haul.
By offering a raise in pay – not only will help the finances of workers – it will demonstrate a commitment and higher regard for your employees’ welfare.
3. Offer a guarantee of continued employment.
Continuously show how you care about your employees. Enhancing your engagement of employees and alleviating any mistrust is important.
After you’ve determined the right probationary period so you can guarantee employment, offer a pledge of continued employment.
4. Evaluate and implement strategies to hire women.
Many women have worried about daycare and transportation costs. At least 25 percent of women have thought about cutting back on work or quitting work altogether.
This is especially true of working moms with children aged 10 and younger. This is why childcare benefits and flexible work schedules will help your operation.
5. Anticipate the concerns of people unique to your marketplace.
The lifestyles and cultures are different across the nation. For example, people in Phoenix, Arizona have different situations than those in Pittsburgh, Pennsylvania.
You’ll need to understand the emotions of such people. Then offer flexible workplace solutions.
In conclusion, you’ll have to deal with a migraine of having to pay higher starting wages. But you’ll also have to evaluate your pricing strategies, cost-cutting measures and all your human resources policies.
From the Coach’s Corner, here are related HR strategies:
Human Resources – 5 Insights to Hire the Best Performers — One good hire can help improve your culture. Conversely, just one bad hire can hurt your workplace culture. Here’s how to hone your instincts to hire the best.
How Your Human Resources Program Will Earn Trust — Human resources departments still aren’t trusted by many employees, according to a study by career site, Zety. This results in poor morale and productivity, turnover, lawsuits and unsatisfactory relationships with customers resulting in weaker sales. Here are six solutions.
HR – Update Your Approach to Interviewing Applicants — In the hiring process, certainly you need to learn how applicants, think, work and perform. But many types of interview questions have become outdated. Here are best practices.
In Virtual Onboarding of Employees, Use Law of Attraction — For success in virtually onboarding remote employees, businesses must use the law-of-attraction approach – just as they’ve done for decades in attracting new customers.
Appreciating Your Workers Will Pay Dividends…Here’s How — Here’s why and how you might incorporate more displays of recognition and gratitude in your workplace to improve your organization.
“A well-designed 401(k) plan is an enormous competitive edge when recruiting and retaining employees.”
-Barry Ritholtz
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