Do you struggle to find the right people for your team? Hiring qualified talent is taxing for businesses of all sizes and industries. There’s the hunt for specific skills, the need for cultural fit, and the battle to balance budgets. Moreover, the supply and demand in the job market continually complicate the talent acquisition process, with skills gaps and evolving industries keeping you on your toes.
The challenge of hiring top-tier talent has recently evolved into something that seems impossible to address. Known as the global labor shortage, this is a critical issue in workforce management. In its simplest form, a staffing shortage is when there are not enough qualified candidates to meet an organization’s needs.
This blog tackles how to deal with a staffing shortage, shedding light on practical strategies and solutions.
A Quick Glance at the Global Labor Shortage
The global staffing shortage is a ticking time bomb with probable far-reaching consequences. Korn Ferry projects a bleak picture for 2030: a staggering 85 million plus jobs unfilled due to not enough qualified professionals worldwide. This looming talent deficit could translate into a mind-boggling $8.5 trillion in unrealized annual revenues.
But why is this happening? According to a separate report from Monster, one of the primary culprits, which 90% of employers admit to, is the struggle to find candidates with the right skills. Additionally, 29% acknowledge that the skills gap has only widened over the past year.
Compounding the problem, candidate and employer priorities are increasingly difficult to align. Safety concerns, remote work adoption, and the growing desire for flexible hours have blurred the lines between traditional expectations. Employers now face the challenge of catering to the changing needs of their workforce, making it a formidable task to attract and retain talent.
In a way, job seekers hold the reins, yet many are unsure of the right path. According to the same study, 26% of active job seekers express low confidence in finding the ideal job fit, reflecting the overwhelming uncertainty in the job-seeking process. About a quarter of candidates are also skeptical about employer promises.
How to Deal With Staffing Shortages
Given these alarming statistics, immediately addressing the staffing shortage is crucial. From optimizing your existing workforce to attracting new talent to meet your evolving needs, here are some solutions you can apply in your workplace.
Develop a better employee retention program
Retaining your existing talent is vital to counteract or prevent staffing shortages. A well-crafted employee retention program can include competitive salaries, professional development opportunities, and a positive work environment.
Boosting employee morale is another way to make your members want to stick around. Try organizing team events like lunches, trivia nights, and field days. If possible, promote employee-led initiatives such as book clubs, sports teams, and employee resource groups (ERGs).
Strengthen your company culture further through quarterly all-team meetings. These gatherings provide a platform to applaud individual and departmental achievements and set goals and objectives for the upcoming quarter. Showing that you value your current workforce will likely keep your best employees on board.
Address the skills gap with upskilling and reskilling
Investing in training can help bridge the skills gap within your team. Upskilling enhances current skills and prepares employees for promotions, while reskilling prepares employees for entirely new roles to fill staffing gaps.
Identifying high-demand skills in your company and providing adequate training to equip employees with the required competencies are crucial. This approach not only enhances their value within the organization but also contributes to addressing staffing shortages.
Whether through on-site training, leadership coaching, conference stipends, or mentorship programs, showcasing a commitment to career growth enhances your appeal to existing employees and potential hires. By sharpening your team, you contribute to a more effective recruitment and retention strategy.
Optimize processes with technology
Often, inefficiencies in workflows and processes can lead to overburdened staff or the need for additional personnel. Instead, invest in technology and tools, like project management software and communication platforms. These can automate time-consuming and repetitive tasks, such as managing inventory, administrative duties, and so on.
Streamlining operations frees your skilled personnel from routine chores and allows them to dedicate their time and expertise to more essential tasks they’re trained for. At the same time, technology helps lighten and manage your team’s workload. It can also boost their job satisfaction and happiness, enhancing productivity and increasing staff retention.
Make your company more enticing for applicants
Attracting new talent is crucial. Enhance your company’s appeal by offering a range of enticing perks like competitive compensation packages and remote or hybrid work options. Healthcare benefits, paid leaves, and a retirement plan are standard privileges.
In addition, try incorporating professional development opportunities, flexitime or compressed workweek options, and mental health programs to draw in applicants. These will emphasize that you promote work-life balance, ensure excellent working conditions, and value team members. A magnetic employer brand will help you stand out in the job market.
Get creative with your recruitment efforts
Think outside the box when it comes to sourcing talent. Diversify your recruitment channels and explore social media for a wider reach. Post job openings online, but remember to make your job descriptions attractive by showcasing your unique strengths and perks.
Moreover, you may take advantage of employee referrals or partner with educational institutions to offer internships to graduating students. A recruitment agency in the Philippines like Manila Recruitment can also significantly help find top-notch candidates for your company through its headhunting and team search services.
Augment your workforce with outsourced and offshore staff
Consider outsourcing or hiring offshore staff to fill gaps in your workforce quickly. Outsourcing can help with specialized tasks, while offshoring is a cost-effective solution. Establish effective communication and management structures to ensure success with remote teams.
Agencies like Manila Recruitment offer outsourcing and offshoring services to help you find qualified candidates and manage the hiring process. They give access to skilled offshore or outsourced staff, helping you build a stronger and more competent team.
Turning Staffing Shortages into Opportunities
Workforce deficiencies and recruitment challenges are real struggles for many businesses. But you can equip your organization to navigate through these setbacks. By employing strategies and solutions, you can address immediate staffing issues and lay the groundwork for a resilient and adaptable work community.
If you’re looking for exceptional outsourced and offshore talent in the Philippines, reach out to Manila Recruitment today. We can help you build the skilled team you need for success and lead you toward a more promising future for your workforce.