If you’re an employer struggling to recruit and retain workers this year, you’re not alone. The latest Job Openings and Labor Turnover Summary report from the U.S. Bureau of Labor Statistics shows that job openings in February remained near record levels, while the number of workers voluntarily leaving their positions increased.
The economy is currently growing faster than it has in decades, and demand for labor has outpaced the availability of workers. Labor economists offer a few tips for employers struggling to recruit.
Reach out to hard-to-find workers
If companies want to find new sources for recruiting, they’ll need to reach out to people who may not be actively seeking work right now, says Ron Hetrick, a senior economist at Emsi Burning Glass, a workforce data and research company. Some places to look include:
- Connecting with industry or professional associations
- Contacting a Business Services Representative at a local American Job Center who may have leads on mass layoffs in your area before they happen, or
- Reaching out directly to local schools and training programs.
Consider additional benefits
According to a recent Forbes article, retirement and insurance plans remain the most valued employee benefits. But business advisors suggest several more out-of-the box options to attract workers too:
- Flexible hours
- Remote working options
- Generous time off and parental leave.
- Commuter benefits
- Workspace stipend
- Professional development opportunities
- Longevity perks
- Half-day Fridays
- Free gym memberships
Ensure your pay scales are competitive
While benefits are important, wages are still one of the top reasons that workers take jobs. Learn how to understand and research salary data for your job openings in your local area.
Want more tips on how to hire, train, and retain a strong workforce? Visit CareeeOnStop’s Business Center.