Matching the RIGHT People with the RIGHT Positions at the RIGHT Companies

Talent Shortage

Talent Shortage

By Chris Hillman, Recruiting Professional
SearchPath of Chicago, Inc.
searchpathofchicago.com

Struggling to fill positions? You’re not alone. 69% of employers are struggling to find talent to fill needed positions, according to a ManpowerGroup research study.  That’s quite the change over a decade when in 2010, only 14% of employers were struggling to fill positions. What’s changed?

  1. Generational Gaps: Baby Boomers are nearing the age of retirement and existing the workforce in rapid fashion. According to a Pew Research Center study, the third quarter of 2020 saw roughly 28 million Baby Boomers exit the work force which is 3.2 million more than the roughly 25 million that retired one year prior. Whether they retired or gave up hope from finding a job, it’s left quite the unbalance of supply and demand of talent.
  2. Knowledge Gaps: There is typically a progression of education and transfer of knowledge but with the recent exodus of experienced workers, that step has been missed for most and promotions for inexperienced workers isn’t an option. Also, with the fear of companies failing due to lack of growth over the last two years, many millennials may not be concerned with trying to get a promotion because they see no light at the end of the tunnel.
  3. Expectation Gaps: With the pandemic and transition to remote workforces, workers saw flexibility that they haven’t seen before. Those benefits are now not just perks, but expectations that the workforce is demanding, and they have the ability to “shop around” for an employer that provides those benefits. 

If you aren’t seeing applicants apply for jobs in the volume that you’ve seen before, you’re not alone. It’s a problem across the board for many companies. Posting a job and hoping for the best isn’t going to work in a competitive job market. Job boards can only reach and convey so much – if you want to secure top talent in a job market that doesn’t have much talent seeking new positions, try a new avenue, a method that can up your job search: an executive search firm.

A search firm will help you find talent proactively – they don’t just post and wait but actively sell your company and the position. If you want to climb this mountain, use resources that can elevate your entire process.

For additional information, please email Chris Hillman or call (815) 261-4403 x 100