It’s time to face the reality. No matter what the news and politicians tell you – we’re heading into an economic boom. Companies are facing challenges finding qualified skilled talent in the midwest states. I have been a sourcer focusing on filling midwest roles for the past 7 years and it’s never been this competitive. If a job is focused on finance or information technology, odds are that the applicant is receiving several offers at once. I recently sourced a back-end developer with only 3 years of experience living in the Twin Cities– they had 3 offers all above the six figure range. According to a recent article in the Star Tribune, by 2018 there will be more jobs than people in the state of Minnesota. Our shrinking workforce is due to several factors: baby boomers retiring, jobs requiring extensive education, & stiff competition due to economic growth. Midwest companies need to start realizing this new trend. Here are some ways to combat the talent shortage:
[Companies Need to Face this New Reality]
Recruiters need to do their own research and should come prepared to the intake meeting with the data. Companies need to realize how competitive the market is. The first step is setting expectations with your hiring managers. It may take a few more weeks or even a month longer to source and qualify the right talent for the role. It’s important for everyone on the team to understand this new reality – we are facing an economic boom.
[Companies Need to Sponsor]
Make sure your company is open to sponsoring applicants. This needs to be part of your overall strategy. The market is too tight and sponsoring needs to take top priority.
This always goes a long way! Make sure you’re constantly updating your applicants on a weekly basis. Even if you don’t have any new updates, it’s important to value their time throughout the process. The candidate always remembers how they were treated, and this can make or break a person’s perspective of a company.
Make sure you’re keeping tabs on reviews for this site. Poor reviews of a company can really damage it’s image. It’s good to strategize on ways to combat the negative reviews. Applicants always do their research on companies beforehand, and you want to do all that you can to ensure that your company culture is positively reflected.
[Job Training & Boot camps]
The myth about the four year degree needs to end. Companies are facing a shortage because they are unwilling to hire qualified applicants without a bachelor’s degree. Companies need to have on the job training and internship programs or they need to partner with community colleges and tech boot camps. Too many quality candidates are passed by because of this perceived shortcoming.