Walking through the grocery aisle, we may take for granted the easily accessible and seemingly endless supply of non perishable items available to us on grocery shelves. However, these items do not magical appear there, just waiting for us to purchase them. A nationwide team of Logistics Professionals and Drivers are there to ensure we have the products we want/need in a timely manner. However, what happens when the number of Drivers available to deliver said goods, starts to dwindle?
As unemployment continues to drop and more in the baby boomer generation are retiring, companies nationwide in a wide variety of industries are beginning to feel the sting of talent shortages. With this in mind, who might get hit the hardest this year and what can be done about it?
As the talent gap continues to grow, employers are looking to the Millennial and Gen Z populations to complete their teams. It’s estimated that by 2020, Millennials alone will make up nearly half of the workforce. In order to attract and maintain Millennials in your workforce, it’s important to understand that their values and interests vary greatly from other generations.
While the economy is remaining strong, many small businesses in the United States are still struggling to grow their business. One of the biggest challenges facing business leaders today, is recruiting qualified candidates.
In a recent survey conducted by Indeed with small businesses, 97% of respondents reported difficulty in hiring the right candidate at least occasionally. While even the nation’s largest employers are fighting to attract top talent, small businesses experience a different set of challenges that can increase the difficulty in recruiting, even for lesser skilled positions. A few of their challenges include:
Do you seem to be receiving calls from Recruiters at the most inopportune moments throughout your busy day? Do you ever wonder why they keep calling?
Could you imagine if 75% of your staff left for another opportunity? It could happen. According to LinkedIn’s Talent Trends 2014, 75% of professionals are open to changing jobs! With the average time to fill a position nearly an entire month, passive recruiting could be a detriment to your bottom line, and your business.
So it’s not your imagination, the time to fill your job vacancies has grown substantially. The Dice-DFH Vacancy Duration Measure, recently reported the average time to fill a vacancy had jumped to almost 27 working days in February 2015.
Whether you were caught off guard completely or just finally facing the inevitable, if a strong producing member of your team just gave notice your mind is likely reeling. Before emotions play a role in your response, it’s important to consider the long term effects of producing a counter offer.
More often than not, the employee is not leaving their position strictly based on pay.
Considering that salary doesn’t even make most lists for the top 10 reasons employees quit, it shouldn’t be the first band aid you seek. In fact, in many cases the repercussions of presenting a counter offer can cause further detriment to your team. Here are just a few reasons why:
Results show that a staggering 90% of employees who accept a counter offer, leave the organization within one year.
Undoubtedly, there is a better solution. Consider a thorough exit interview process. The exit interview process should be far more than having the employee complete a survey. The results should be tracked by department, by category, and a team of leaders should look for common trends and solutions. Using this information wisely can significantly reduce your turnover as an organization.
Want to learn more about how you can gain access to Trillium’s national network of top level talent? Contact us today! If you are a stand out in your profession and seeking contingent or long term career opportunities, visit our job seekers section for more information!
Trillium, a national leader in staffing and recruitment is a valued staffing partner to over 5,000 companies nationwide. Trillium is privately owned by Oskar René Poch.
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