Growing your business means expanding your operations, while also having a workforce that’s equipped to handle operations at a new scale.
But many businesses hesitate when it comes to expansion, as employee payrolls take up most of the monthly expense budget. This is why the decision to hire more employees is a challenging one for employers at times.
According to a recent report, the United States is facing an extreme shortage of top talent, with up to 6.6 million vacant job positions!
Competition among businesses is becoming more and more aggressive, as they’re all on a quest to attract the largest pool of customers and skilled workers. This is where employer branding comes the fore, as it helps companies develop effective talent acquisition and retention strategies to attract top talent.
The construction industry is growing at a dynamic pace; however, many businesses face difficulties when it comes to hiring a workforce, because of an increasing shortage of talented candidates. In fact, this has become a major concern for many business tycoons.
According to the recent Commercial Construction Index (CCI), nearly 95% of contractors find it difficult to find skilled workers. This lack of workers, and a continual increase in demand, is resulting in higher costs, forcing firms to turn away from vacant positions.
As competition among businesses increases, it becomes vital to maintain a good market reputation to captivate customers and enhance revenues. However, this is not all that a good reputation does—nowadays, a great brand name attracts talented employees too!
Your reputation as a workplace and your workers’ perception of your company as an employer makes you an employer brand. According to research, 86% of jobseekers wouldn’t apply for a job or continue to serve in an organization that doesn’t have a good reputation in the market.
When companies hire new employees, they invest time and money to make them ready for the corporate world and to bring to the same level as senior employees. But no matter how much effort you put in, the decision to stay or to find new employment rests in their hands. According to research, approximately 1/3rd of all newly hired employees leave their jobs after six months.
But how are you to grow your business if workers come and go? The answer is building effective employee retention strategies to transform employees into long-term assets, as well as to enhance their productivity.
In this fast-paced commercial environment, businesses can’t make any mistakes with hiring. Organizations need the best candidates because new talent impacts market competitiveness, and ultimately affects profitability.
This article outlines some common mistakes made by employers when hiring new employees:
A good recruiter ensures that the company consistently attracts the right talent, and the candidates find suitable jobs. While experience fosters some skills, good recruiters have inherent qualities which set them apart from the rest. This blog will highlight the top five qualities of great recruiters:
Many companies are seeing their businesses grow as the economy slowly continues to improve in the United States. However, they’re still reluctant to hire additional employees in fear that the local and global markets will take a plunge again. That could potentially lead to decreased workloads, and they’ll be stuck paying salaries to employees they don’t need.
According to the latest job market trends in 2019, there are more than seven million job openings in the United States, and not enough workers to fill them. The shortage of candidates has made it difficult for companies to find and engage with active job seekers. And even if a company manages to find candidates, they get snagged up by the competition quickly. Hiring managers have been reduced to asking for referrals or seeking out passive talent.
The labor market has become very tricky to navigate companies now face novel challenges in hiring and retaining good candidates. Employers are consistently trying to create excellent candidate experiences during interviews and stand out as exceptional employers to overcome hiring problems.
Read this article to review four brutally honest reasons why companies struggle to find great employees.