Is the 2021 Candidate Shortage Affecting Your Workforce?

During the pandemic, most of us were expecting a strong recovery and a swift return back to business as usual. However, this is not how the events unfolded, and recruiters knew better. The reality is that experienced, skilled and high quality candidates continue to be difficult to find, and businesses everywhere, big or small, are struggling to fill their open positions. 

So, what is this global talent shortage being driven by? It’s being caused by a variety of factors which have become exacerbated due to the global COVID-19 pandemic. The job market today is flooded with more open jobs than before the pandemic, and now there are fewer people in the workforce. Most workers have opted out of going into the office or working service jobs due to health and safety concerns about COVID-19, or have needed to stay home with children in virtual school.

According to a 2021 study conducted by ManPower Group, global shortages are at a 15-year high and more than 1 in 3 U.S. employers are noting that they are having a difficult time filling positions. A majority of CEOs are concerned about being able to access the skills that are vital to running their business. 

What is a Talent Shortage?

A talent shortage simply means that there are currently not enough skilled workers available to fill in a number of open positions on the job market. This is causing companies to compete for a shrinking talent pool, many of whom are finding that they need to pay more for new talent while also needing to offer higher pay and benefits to their current clients to prevent them from leaving. 

So what can employers do about it? Here are a few things you can do if you are struggling with finding talent for your workplace.

Emphasize Job Security

During the pandemic, we have heard endless stories about businesses struggling and going under, while leaving behind their workers to fend for themselves. Our normal recruitment market has significantly slowed down. Many workers feel lucky to have a job that offers them job security in uncertain times like these. So if you are looking to hire top talent, be sure to outline the security that comes with working for your company.

Shift Your Focus

Many high-level candidates with more experience took the opportunity to take stock and plan for their future during those mandatory months off work. According to the Financial Times, many of them chose to strike out on their own, creating businesses under their own names. 

The types of high-quality candidates that you would go for are now creating their own enterprises en masse. This means that you need to start shifting your focus to hiring more junior candidates and fresh rookies. By giving them the right training and opportunities for development, these are the types of candidates who will help your business thrive in the future. 

Create Structure

While it’s true that the candidate market is continuing to shrink, this is only part of the problem. The other part is that businesses are focusing all of their recruitment efforts on the most experienced people while they try to recover.

Soon, we will see a shift as companies recognize they will need to focus less on those who are already experienced, and instead focus on developing a robust employee training and development structure that will streamline onboarding and training new hires. This is crucial when it comes to growth, now and in the future. 

Level Up Your Team With 1Huddle

1Huddle can help you and your team stay ahead of the learning curve. We offer cloud-based employee gamification software. You can customize your content for a seamless experience and all of your employees will be able to access their training anywhere, anytime and at the push of a button. You can use our game platform to measure their performance and make key decisions on where you should take your gamification strategy next. 

Do you want to learn more about how 1Huddle can help you level up your own workforce? Talk to us today.