If you are reading this, you almost assuredly know this statement to be true – “Right now, finding good employees is as hard (or even harder) than ever.”

Let me pose some important questions:

• 1) Is your posting an ad on one or more of the most often used job sites producing the volume & caliber of applicants that you want?
• 2) Is your organization’s level of talent acquisition competency at the expert level?
• 3) Do you have the necessary resources allocated to this challenge?
• 4) Do you expect this upside-down labor market to improve soon?
• 5) Do you think there’s a “magic bullet” solution?
• 6) Is the adverse impact of your not being able to find & hire something you want to or can afford to continue living with?

The most common responses to these questions are:

• 1) It used to, but this is not working anywhere nearly as well as it used to.
• 2) We may not have been experts, but we were doing a relatively good job at it – but not now.
• 3) Not enough because of how much more time needs to be spent on hiring.
• 4) Speaking realistically, I doubt it.
• 5) No, like most business challenges, the solution has multiple components.
• 6) Absolutely not.

Here are some actions that an organization can take:

• 1) Enhancing the skill level of your recruiting staff
  • Improving the skill level of employees is almost always a good step. However, the length of time to get the results you desire may be too long.
• 2) Hiring an employee or employees with greater recruiting skills
  • Hiring a skilled recruiter or recruiters as employees may be very difficult because they (just like other skilled employees) are in great demand.
• 3) Offering hiring bonuses to candidates
  • This certainly has proven to be effective in past employee shortages, and is again proving to be somewhat effective in this shortage.
• 4) Providing retention bonuses to existing employees—at least to those in key positions 7/or hard to fill ones
  • Same comment as to hiring bonuses applies.
• 5) Incentivizing current employees to become “recruiters” with their family, friends, other soccer parents, those at their church & others.
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  • This approach certainly doesn’t work if your employees do NOT feel good about their being an employee of yours.
  • This is a subject for another time!
• 6) Turning to search firms since the really good ones are proving they are able to find talent even during this cycle
  • A search firm’s talent is finding talent – even in difficult times such as now.
  • Yes, it is expensive but when you count the cost of not doing so you may conclude the expense is justified, especially given the results they deliver

Stay tuned for “FINDING EMPLOYEES: THE IN’S & THE OUT’S, PART 2”

Author: Salvatore LoDico, CEO
The HR Godfather™

In Part 1, we looked at several aspects of this perfect storm, including:

• The unfavorable to employers imbalance between talent supply and demand
• The pent up desire by employees to move to a new position
• The cost of replacement of departing employees

In Part 2, we looked at other aspects, such as

• The major causes of employees leaving
• Employee expectations of their employers
• Actions which organizations can take to improve employee satisfaction and thus retention

Now in Part 3, we will look at:

• The specifics of what potential candidates will ask at the onset on being contacted
• Achieving greater success in acquiring the employees you need

We all know the current labor-job market is horrific for employers and great for employees —11,100,000 vacant jobs in the U.S.

• The media often zeroes in on certain segments of the market being so bad for employers, especially those with service-related workers such as restaurants and bars.
• The reality is that this out of balance demand – supply is applicable for all types and levels of positions — from entry level ones to office workers to skilled professionals to management positions all the way to the C-suite positions.

In my lengthy HR career, this is by far the worse imbalance of which I’ve been a part.

In Trinity’s interaction with its clients and with potential candidates with whom we engage, here is the list of what the vast majority of candidates are expecting (often, “demanding” may be more accurate) in order to consider making a move. The typical sequence of their questions is as shown.

Without the answer to these 5 aspects of the position being “positive” ones in the eyes of the prospective candidate, they will decline interest the vast majority of times.

• By the way, if the answer to the first question is not “positive”, it is highly unlikely they will even be willing to talk further.
• The same thing is true if the answer is “positive”, but the next answer is not.

SIX WAYS TO ACHIEVE GREATER SUCCESS IN MEETING YOUR STAFFING NEEDS:

Author: Salvatore LoDico, CEO
The HR Godfather™

In Part 1, we looked at several aspects of this perfect storm, including:

• The unfavorable to employers imbalance between talent supply and demand
• The pent up desire by employees to move to a new position
• The cost of replacement of departing employees

In Part 2, we will look at other aspects, such as

• The major causes of employees leaving
• Employee expectations of their employers
• Actions which organizations can take to improve employee satisfaction and thus retention

Below is a list of the most common factors that cause employees to seek to make a change

The above reasons are ones about which the employer has virtual little or no control – thus, we categorize them as non-addressable.

• An exception is re-location, which in today’s world of work has demonstrated that many positions are able to be successfully performed remotely.
• Some of you may be thinking that reason 1) is also addressable — by assuring employees they need not be concerned about their job security. Trinity’s experience is that once the seed of doubt is in the mind of employees, it is very difficult to counteract it — short of continued employment being guaranteed.
• Likewise, 2) may sometimes also be addressable – via remote work or an in person/remote work hybrid.

Below is a list of the most common factors which employers are able to successfully address—to varying degrees.

Let’s now turn our attention to each of these.  Before doing so it should be recognized that often no one single factor may be the reason an employee decides to look elsewhere or to be willing to listen to external opportunities.

• 1)  Job Specifics
  • This factor frequently entails several different aspects, such as:
    • a) Mismatch of an employee’s areas of interest, education and/or experience
    • b) Capability of the employee to perform the position’s duties and responsibilities – including both their being unable to do so as well as their being able to perform higher level work
    • c) Workload that is too great and so can overwhelm them or be too stressful
• 2)  Career Development & Advancement
  • This occurs when an employee is not being given opportunities to grow their knowledge and skills (in terms of their depth &/or breadth).

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  • In turn, this leads to an employee believing their career is dead ended & thus leaving.
• 3)  Work-Life Balance
  • If an employee feels their workload or schedule is such that their life is consumed by their job, the person eventually decides that leaving is the answer to restoring work-life balance.
• 4)  Relationship with Supervisor
  • For employees this relationship typically serves to form their perception of the organization as a whole – not surprising given that an employee has more interaction with their immediate supervisor than anyone else.
  • A relationship characterized by an employee having any of the following feelings often is the trigger or the tipping point in their decision to leave.
• 5)  Work Environment
  • This generally consists of a wide-ranging collection of factors, such as:
    • a) Organizational culture
    • b) Leadership style
    • c) Communications
    • d) Policies & procedures
    • e) Physical facility
    • f) Flexibility & receptivity to ideas, change & the like
    • g) Social norms
• 6)  Pay & Benefits
  • These two go hand in hand, & today’s world employees are able to get information as to what other organizations provide – such information may or may not be accurate, but employees use it as their measuring stick
  • Pay & Benefits have two key facets:
    • a) Internally equitable
    • b) Externally competitive

In Part 3, we’ll delve into what actions employers should take to address the expectations of employees, and therefore be an employer where current employees want to stay & to which potential employees are attracted.

Author: Salvatore LoDico, CEO
The HR Godfather™

This is a series that continues Trinity’s May 17^th article related to the labor market. In this 1^st part of this series of articles, I’m focusing on turnover & its cost to employees.

The Bureau of Labor Statistics reports that there are now over 9 million jobs unfilled in the U.S.—up from 8.2 million’s prior report. This represents the highest number since the BLS started its reporting in 2000. Without talking about the reasons for so many vacant jobs (which I will do at a later point), the demand for workers far exceeds their supply.

• This has multiple implications, which I will also talk about in a subsequent article in this multi-part series.

Based on the last “normal” year (that being 2019), Mercer reported a U.S. average turnover rate to be 22%, with 15% of that being voluntary, 6% being involuntary & 1% being retirements.

• Suffice for now for me to say that as a result of the current supply & demand imbalance:
  • With the economy rebounding, employees have choices & are taking advantage of those choices—after being afraid to leave for the last eighteen months.
    • A Robert Half survey reports that 38% of workers say they have felt stuck in their careers since the pandemic began.
    • According to several surveys, it appears employees are ready to leave their current jobs behind in 2021, right along with the pandemic restrictions we’ve all had to live with for so long. The numbers range from 26% to 40%
  • We can expect to see more voluntary turnover.
  • Employees are in control of the employee – employer relationship.
    • Employers need to not accept this reality & listen to employee preferences & expectations, but also need to take action.
    • If not, they will almost certainly be dealing with an insufficient supply of the talent they need.
    • They’ll also incur significant expenses in order to replace exiting employees.

The Society for Human Resources Management (SHRM) estimates organizations can pay six to nine months of a worker’s salary to replace them.

• Replacement costs include recruiting and training.

Let’s look at those estimates in terms of dollar costs associated with

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We all know that meeting or exceeding the expectations of our customers/clients is a much better outcome that having to secure new ones. The same thing is true with respect to our employees.

FOR MORE INFORMATION ON HOW TRINITY’S TEAM OF CONSULTANTS CAN HELP YOU WITH RECRUITING, RETENTION OR PEOPLE-RELATED MATTERS:

• E mail Trinity at info@TrinityHR.net
• Visit our website at www.TrinityHR.net
• Call us at 856.905.1762 or Toll Free at 877.228.6810

Author: Salvatore LoDico, Trinity CEO (aka “The HR Godfather”)

YOU HAVE HR CHALLENGES…TRINITY HAS SOLUTIONS!

We are in an extremely challenging time in terms of the labor market. The economic recovery has many employers hiring, but they cannot find nearly enough qualified applicants.

• The Job Openings and Labor Turnover Report by the U.S. Bureau of Labor Statistics (BLS) of May 11th shows almost 8,200,000 (yes, 8.2 million!) job openings.
• That’s the highest number of job openings in the history of the Bureau’s Report.
• The table below shows the parts of the labor market that have been hit the hardest:

Source: Statista

CONTRIBUTING FACTORS

Here are some of the factors causing this shortage:

• 1)  Receipt of Covid-19 stimulus checks
  • This is obviously true for workers at the lower pay rates for which the stimulus checks equated in some instances to multiple months of their take home paycheck.
• 2)  The financial decision by some that they are better off receiving state unemployment compensation benefits plus the federal unemployment benefits supplement of $300 per week (which some states have already begun to put an end to)
  • The sharp rise in gas prices has exacerbated this—as has now (and hopefully only temporary) gas shortage in many states
• 3)  Individuals concern about the safety of returning to work despite the:
  • The large number of working age adults who have been vaccinated
  • Safety measures employers have in place
  • CDC’s recent announcement about the safety of the resumption of normal activities
• 4)  Issues with child care—even though we are seeing the return of in school attendance in place of virtual school
  • The past and current societal reality is that this issue impacts females (especially single moms) to a much greater degree than it does males.
• 5)  As technology has made and continues to make remarkable advances, it changes the skills needed to perform many of today’s jobs.
  • This results in a mismatch between employers’ needs and applicants’ qualifications.
  • Almost all projections indicate that this gap will continue to widen markedly unless and until there are significant collaboration efforts between employers, schools (both colleges and technical schools) and government agencies.

Although it’s not possible to assign a weight to these and other contributing factors with a high degree of accuracy, individually and collectively they have a negative impact on organizations acquiring the talent they need now and for some unknown future time period.

TRINITY’S THOUGHTS

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Below are some potential actions for you to evaluate in order to achieve greater success in meeting your staffing needs:

• 1)  Re-assessing your recruiting process and what potential labor pools are being ignored
  • A Trinity client is discovering that many retirees are willing and able to work.
  • Another company is tapping into those who are re-entering the work force after military service.
• 2)  Hiring search consultants for certain professional and management positions
  • Do not confuse search consultants with staffing agencies
    • The expertise of search consultants are as different from staffing agencies as a major league baseball player’s skill is from that of a high school player’s skill.
• 3)  Re-evaluating your use (or non-use) of current employees as “recruiters”
  • This is often an undervalued source of new employees.
    • Trinity has created innovative “employee recruiter” programs.
• 4)  Expanding the use of part-time and contingency jobs
• 5)  Further re-evaluating which jobs can be performed from home
  • Including taking into account the amount of space owned/leased as less employees become on site ones
• 6)  Creating or greater relying on internships and internal training opportunities
  • The latter includes the “old school” model of hiring trainees who receive on the job training to gain the necessary knowledge and skills.
• 7)  Increasing pay rates
  • Behemoths such as Amazon and Walmart have already done so, but so have “mom and pop” businesses, as well as employers in between
• 8)  Providing “hiring” bonuses
  • Keep in mind: a) The amount can vary based on the degree of difficulty to hire and b) Bonuses should not be paid until after a certain length of employment
• 9)  Offering 100% company-paid healthcare benefits
  • This is after decades of employers having moving to a cost-sharing approach to healthcare benefits.
    • If you are considering this, keep in mind the implications for your existing employees.
• 10)  Initiating or expanding child care assistance
  • Since some jobs cannot be performed remotely, response 3) falls short of a total solution
  • This may (but does not necessarily) mean creating on-site child care services through a third party or even making an employer contribution toward the cost of child care.
  • It may include actions such as: a) Identifying area providers and negotiating employee discounts and b) Having a Dependent Care Assistance Program under IRS regulations

FOR MORE INFORMATION ON HOW TRINITY’S TEAM OF CONSULTANTS CAN HELP YOU WITH YOUR TALENT ACQUISITION OR OTHER PEOPLE-RELATED MATTERS:

• E mail Trinity at info@TrinityHR.net
• Visit our website at www.TrinityHR.net
• Call us at 856.905.1762 or Toll Free at 877.228.6810

YOU HAVE HR CHALLENGES…TRINITY HAS SOLUTIONS!