Based on what our clients are experiencing, you are probably aware of the tight labor market. With 4.1% unemployment, some of our clients struggle finding talent. Entry level talent, supervisors/project managers and even CFOs are difficult to find. Here are some ideas that our clients are using to capture and retain talent.
There are tricks that are working for some of our clients. Looking to non-traditional sources of labor in some markets is a logical choice. We are hearing positive reports about looking into transitional labor candidates for entry level labor type positions. In this context, transitional means transitioning from jail or prison back into normal life. We know organizations on both the supply and demand side of this new trend and there is a lot to recommend it for entry level positions particularly in low or no skill required positions. If you are on the demand side, meaning you are seeking labor, you should connect with a known entity on the supply (transition) side to help you do this. As you can imagine the rewards are excellent but not without need for care and attention to the details of execution. If you are interested in this approach contact Alvis House locally.
Another interesting source is the unemployed. While this may seem obvious on the surface, most hiring processes pass over the unemployed as a matter of course. In this market, it might be wise to review the process and relax that filter. The unemployed have traditionally been considered too risky to bet on. But, again with careful attention to detail and specifics, this pool can also be tapped. In fact, we know a firm that specializes in finding work for unemployed candidates locally.
An interesting pool to tap into, that you may not have yet, is experienced executives. It’s counter-intuitive, with the economy growing the way it is. But many experienced and frankly highly qualified executives are on or near being on the market. Acquisitions are a clear driver of this but acquisitions alone are not adequate to account for the trend that we are seeing. We maintain a list of excellent CFO/COO candidates that we watch, and we know a few that would be approachable at this time. …and for those of you seeking a President (or integrator in Traction terms) these would be excellent candidates.