Today, navigating the talent shortage remains an issue for many employers. Data shows that there are an estimated 9.8 million job openings, but there are only 5.9 million unemployed people, which functionally creates a shortfall of 3.9 million workers. Additionally, 77 percent of employers report having difficulty securing the talent they require, which represents a 17-year high.
While the talent shortage is a universal problem to a degree, not all of the unemployed professionals have the skills required to fill every position, leaving some industries harder hit than others. Still, there are ways to navigate the associated challenges. One straightforward option is to partner with a recruitment agency.
Here’s a look at how a staffing firm can help with recruiting, even when there’s a talent shortage.
Deeper Talent Pool
Recruitment agencies classically maintain their own talent databases, and they’re brimming with professionals with a wide array of skills. Additionally, job seekers often rely on staffing firms to find opportunities, so there’s a new influx of talent on a near-daily basis. As a result, partnering with a recruitment agency allows you to tap that resource, significantly deepening your talent pool right away.
Staffing firms are functionally hiring experts, and the expertise of their teams leads to significantly streamlined recruitment processes. They’ve refined activities associated with candidate sourcing and screening, and recruitment agencies often use cutting-edge technology to make them more efficient.
Additionally, recruiters know how to quickly screen candidates when interviewing or contacting references, all without sacrificing the quality of the matches. In turn, their services allow companies to find suitable candidates faster, ensuring top talent doesn’t move on due to a lengthy process.
Hiring is classically an expensive endeavor, and the cost is often higher during periods when the labor market is tight. Along with money spent on activities like candidate screening and job advertisements, recruitment takes valuable time away from other duties hiring managers typically handle, including many profit-driving responsibilities.
By partnering with a staffing firm, it’s possible to get better results for far less money. Along with handling costs associated with advertising openings and screening candidates, they allow hiring managers to focus their energies on other duties until a viable professional is identified. As a result, it can not only reduce the cost of hiring but also boost company profitability, all while ensuring access to the highest quality matches.
Flexible Hiring Options
Most staffing firms offer several hiring options to client companies, allowing them to use approaches that aren’t otherwise accessible or cost-effective. For example, employers can bring in temporary workers for special projects that require niche skills or to support seasonal upticks in demand, all without long-term commitments or risks. Temp-to-hire lets hiring managers conduct working interviews, ensuring only professionals who are a genuine fit are brought on board long-term. While that’s always beneficial, it provides significant value when finding candidates is proving challenging, ensuring companies can adapt as necessary.
Contact The Advance Group Today
Ultimately, working with a staffing firm during a talent shortage makes the situation far more navigable. If you’d like to see what a recruitment agency can do for you, The Advance Group wants to hear from you. Contact us today.