Five Ways Companies Can Address the Skill Shortage Gap
Every industry will at some point in time face a shortage of talent. When this happens, the competition to get the best employees possible becomes very tough.
To ensure you can acquire top talent when it’s scarce, consider the following 5 strategies that HR specialists use when companies face a skills shortage issue.
1. Focus on Skills, Not Function
The truth is certain skills will be useful no matter what industry they are used in. For instance, a graphic designer may be able to quickly pick up AutoCAD skills. In many cases, actual work experience in one field can be far more valuable in another field than just a degree by itself.
Recruiters are aware that there is nobody who will cover 100% of the requirements for a specific position – so opting for someone who covers 70% will still be better than looking for “the one.” It might take training to bring them to 100%, but it will take far less time and energy than continuously interviewing and wasting resources in search of that ideal candidate.
2. Use Technology
There is little that technology can’t help businesses do these days, and it has proved to be invaluable in finding and recruiting talent. Technology can help you assess a candidate’s skills long before they ever get to an interview. In fact, you can even test their skills before allowing them to submit a resume.
HR automation software can help you better manage the employees too, which aids in retaining the talent you already acquired and allows you to focus your efforts on recruiting new talent.
When it comes to recruiting, there is even software available that can help you do that as well. Whatever your needs, from scheduling to payroll to finding and recruiting great talent, automation will streamline those processes.
3. Beef Up Your Benefits
Offering better benefits doesn’t necessarily mean spending more money. In the digital age, benefits include features like more flexible schedules, telecommuting opportunities or unlimited vacation days.
While it may seem like unlimited vacation days might be costly, the truth is that according to a survey conducted by Glass Door, only 23% of employees are even taking the days off they are currently allowed. Offering unlimited vacation days is unlikely to cause employees to suddenly ramp up the number of days they are taking off, but it is likely to be an attractive benefit.
4. Check Your Culture
When employee skills are in high demand, they are less likely to tolerate any type of disadvantage in the workplace. It has been said that people don’t leave companies, they leave managers. In truth, however, those poor managers are generally the byproduct of the company culture as a whole.
While culture issues may not be as obvious when jobs are in short supply, they will become glaringly obvious when jobs start opening up elsewhere and you start hemorrhaging your best talent and experience high turnover. It’s not because your competitors are better – it’s because you are worse. A long, hard look in the mirror will help you put the company on the right track.
5. Recruit
In any type of market, the balance of power is in constant motion. When there are more jobs than workers to fill them, it is an employee’s market. With fewer jobs and more workers, it’s an employer’s market.
In an employer’s market, businesses can get away with just posting jobs and waiting for the resumes to roll in. In that situation, you are likely to get more than enough highly qualified or even over-qualified applicants. In an employee’s market, however, if you want premium talent, you’re going to have to actively go out looking for it.
Even in the toughest markets, the best businesses will still be able to find and retain the best talent. Shortages, however, are what generally separate the great companies from the mediocre ones.
If you want to find and retain skilled and adaptable employees in a tough market, you first have to be a great company.
Even then, however, you still have to adopt great strategies for finding them. With a little extra effort and outside-the-box thinking, however, businesses can find what they need in any type of market.
Skill shortages happen regularly. Being prepared for them is what will keep your company afloat. This means ensuring you offer a great workplace, offer education and skill development opportunities in anticipation of skill shortage, and regularly reevaluate your recruiting process.