The American economy continues to be on the upswing. Normally, this would be good news. Today, it’s news that could make any Human Resources Manager fall down in a dead faint. Here’s why.
The Bureau of Labor Statistics says unemployment remains at 4.1% annually; presently there are six million job openings out there.
The Daily Herald published an article recently under the headline “2018’s Challenge: Too Many Jobs and Not Enough Workers.” Therein lies the rub for companies on the prowl for new talent. It doesn’t matter if the labor is skilled or unskilled — the one constant on the American economic landscape is that if you’re trying to hire it’s an uphill battle.
Not finding talent you want? Taking too long to hire?
This may be one of the first signs that your business could use a talent agency. This article looks more closely at these and other trends in 2018 that may signal that your company needs some help finding talent.
What’s Holding You Back?
“The job market is so strong that businesses and economists believe the inability to find workers is harming economic growth and could encourage companies to move operations" says Stuart Anderson in Forbes.
If your company is dead set on expanding operations in 2018, you might be in trouble. Unprecedented company growth parallels your need for staffing. If your labor pool can’t keep up with operations, your company probably won’t achieve those lofty revenue goals you set for this year. But don’t worry – you’re in good company. A recent Forbes article suggests that the shortage of new employees is exactly what might harm the growth trajectory of the American economy this year.
They also point out that 73 counties in the U.S. have unemployment rates of 2% or lower...Our guess is that the new Amazon headquarters will not go in any of those places.
Is the answer to increase the retirement age to 90 – or to toss out those crazy turn-of-the-century child labor laws? Well, neither, but it will force companies to spend more time hunting for talent, possibly increasing the incentives they offer for employee referrals, or perhaps hiring more bodies (good luck finding them) for their HR teams.
Or, they could outsource to a staffing agency that has built their entire business on finding talent.
The second sign that a talent agency may be in your future is if your HR Manager is crying, “uncle.” HR management is tasked with so many job responsibilities these days it could – and probably does – make a person’s head spin around like Linda Blair's in The Exorcist.
We don’t mean to imply that your HR Manager may be possessed. Instead, we want to suggest that the myriad of tasks required of most Human Resource Professionals in many mid-market companies is too complex to also add recruiting into the mix.
HR Professionals are highly trained in the laws that govern professional employer/employee relations. In addition to staying compliant with a variety of local, state, and federal regulations, HR Managers handle performance issues and coaching, training, interviewing, onboarding, and sometimes even payroll. It’s too much to add the pressure of recruiting into the mix as well.
In a labor market characterized by 4% unemployment, recruiting is a full-time job, especially in technology or other skilled fields – like creative talent.
Recruiters (versus HR Professionals) spend 40 hours per week, networking, interviewing, and trolling for candidates. They go to events, they talk to Hiring Managers, and they visit schools to keep their eyes peeled for raw talent. Any Recruiter worth their salt will tell you they do not rely exclusively on advertisements for job candidates. In fact, that is the last thing they typically rely upon (If you're getting the impression that recruiting is a full-time networking job, you would be 100% right.)
Bottom line? Human Resource Professionals should not be handling recruiting in 2018; they have enough to do.
That’s okay — trust us, you don’t want a Recruiter to handle HR tasks, either.
Like the old song says, sometimes we get by with a little help from our friends...that probably means you’re about to consider outsourcing to a staffing agency to help you find and retain top employees. The market alone has necessitated the need for companies to seek an outsourced solution to staffing. Having access to the larger networking resources and talent pool that a staffing agency can bring to bear on your labor shortage means that your company will find the expertise you need when you need it most.
Outsourcing to a creative talent agency should be part of an overall strategy to modernize your hiring practices. One goal for this year should be to improve the speed at which you find and hire talent. As our Senior Account Manager Karen Smith says, "Time kills all deals."
When a company’s attentions are divided among HR, recruiting, or other tasks, it pretty much ensures that the time-to-hire will lag. In this market, that will also ensure that you’ll lose good people to competitors that are simply more nimble. The days of the corporate HR process taking weeks or months are so 1999. A talent staffing agency can work with your hiring manager or HR team to help speed this process – and net the best talent as a result.
One benefit of the outsourced talent-staffing model is that a good talent agency also has a pool of non-traditional resources. Firms like Artisan Talent have a database of creative professionals that prefer contract or freelance engagements, in addition to full-time roles.
The benefits of contract workers are simple: flexible work arrangements allow employers to staff up with less risk and expense. Contracts can be arranged that stipulate the option of full-time employment, should the employee and employer believe the fit is a good one. Contractors can be ellusive though — that's where an agency could be your BFF.
Finding your Van Gogh is easier with Artisan. From Digital Marketers, Analysts, and Web Designers to Content Writers, Programmers, and UX Geeks, we have ‘em. If your company is seeing the signs that a staffing agency could help the business, call us for a consultation. Don’t let the labor pool (or lack of same) hold you back this year.
Artisan Talent has been recognized as one of Top 15 Staffing Agencies by DesignRush