In today’s competitive job market, companies across various sectors, including legal, engineering, accounting and finance, life sciences, and IT, are often confronted with the challenge of finding the right talent. This issue is not limited to a specific level of employment but spans across call center agents, administrative roles, and up to director and C-suite positions. Understanding the dynamics behind this challenge can help companies develop more effective strategies for attracting and retaining top talent.
3 Reasons Why It’s Tough For Companies To Find Employees
Finding employees is tough. Sourcing talent from the right source is never an exact science.
1. The Landscape of Job Seekers: Passive vs. Active
A significant factor contributing to the difficulty in finding good talent is the distinction between passive and active job seekers. According to LinkedIn, passive candidates, those who are not actively seeking a new job but are open to opportunities, make up about 70% of the global workforce. Only 30% are actively looking for a job at any given time. This means that the majority of potential candidates are not responding to job ads or attending job fairs. Companies need to proactively engage these passive candidates through strategic outreach and compelling employer branding.
2. Changing Workforce Skillsets
The rapid evolution of technology and industry standards has led to a significant shift in the skillsets required by employers. For instance, in the IT sector, there is a growing demand for expertise in cloud computing, cybersecurity, and artificial intelligence. Similarly, the life sciences sector increasingly requires professionals with knowledge in biotechnology and data analysis. Traditional roles are also evolving; accountants and finance professionals now need to be adept with financial software and data analytics tools.
A report by the World Economic Forum indicates that by 2025, 50% of all employees will need reskilling due to technological advancements. This creates a gap where the existing workforce might not have the necessary skills, making it harder for employers to find candidates who meet their current needs.
3. The Impact of Workforce Dynamics
Workforce demographics are also changing. The influx of Generation Z into the workforce brings new expectations and preferences. According to a study by Deloitte, Gen Z values job security, opportunities for advancement, and a positive work-life balance more than previous generations. Companies need to adapt their workplace culture and benefits to attract and retain this new generation of workers.
Additionally, the COVID-19 pandemic has reshaped workforce dynamics significantly. Remote work has become a standard expectation rather than a perk. Many employees now prefer hybrid or fully remote work environments, making it crucial for employers to offer flexible working arrangements to attract top talent.
5 Strategies for Attracting Top Talent
Given these challenges, there are lots of questions. What can companies do to attract and retain the best employees? What is the best platform to hire people? Where is the best place to find staff? What is the best job site for sourcing employees. And just in general, you might ask, “How do I find staff.” All great questions. Here are some tips to help you recruit better and fill the roles you need to fill now and in the future.
1. Enhance Employer Branding
A strong employer brand can attract passive candidates. Highlight your company’s culture, values, and career development opportunities through social media, company websites, and employee testimonials. The Panther Group, for instance, emphasizes its commitment to diversity and its extensive industry expertise, which can be appealing to potential candidates.
We’ve written expensively on this topic.
2. Invest in Employee Development
Offering continuous learning and development opportunities can attract candidates who are eager to advance their skills. This not only helps in filling the current skill gaps but also demonstrates that the company is invested in the professional growth of its employees.
3. Leverage Technology and Data
Utilize recruitment technologies such as Applicant Tracking Systems (ATS) and data analytics to streamline the hiring process. These tools can help identify the most suitable candidates efficiently and reduce time-to-hire.
4. Foster a Flexible Work Environment
Adapting to the changing preferences for remote and hybrid work can make your company more attractive. Offering flexible work arrangements can significantly broaden the pool of potential candidates.
We practice what we preach! Our teams work in a hybrid and flexible work arrangement!
This allows our team’s to get the best out of both work worlds, flexibility and solid collaboration
You can read more about our hybrid and remote job tips for your employees here
5. Partner with Expert Recruiters
Working with The Panther Group can provide access to a wider network of qualified candidates. With over 30 years of experience and a deep understanding of various industries, The Panther Group can help tailor recruitment strategies to meet specific business needs. As a top international-capable firm, we can help you source employees with hard-to-source skill sets. When you’re on Google looking for a “top recruiter near me”, “temp agency” or “staffing firm”, know that our experience and expertise can be put to work for you and you can skip the search. Build a relationship with Panther and we’ll be able to support your hiring needs for years to come, a real partnership.
Why Panther?
- Our Experience: We’ve been recruiting and building contacts with professional for over 30 years across industries for companies large small and in-between.
- Diversity: As one of our core values, we build our own team in a way that naturally attracts diverse talent to us and our clients.
- Industry Expertise: Our team is built with you in mind. Our team’s own backgrounds in various industries help us recruit better for you!
Partnership is actually one of our core values that we live and operate by.
Please feel free to read more about our core values here
What is the Best Source for Finding Employees? Panther Can Help You Recruit Well!
Finding good talent in today’s dynamic job market is undoubtedly challenging. However, by understanding the factors that contribute to these difficulties and adopting strategic approaches to recruitment and employee retention, companies can successfully navigate these challenges. Emphasizing employer branding, investing in employee development, leveraging technology, and offering flexible work arrangements are key strategies that can make a significant difference.
At The Panther Group we’re committed to helping you build a strong, successful team, and with our constant refresh of active and passive job seekers, we can connect you with the professionals you need.
If you’re looking for professional employees in the following areas, we welcome you to contact our team today to access our talent pools and recruiting expertise: Professional, Life Sciences, Engineering, Federal, Information Technology, Accounting & Finance , and Managed Services Provider (MSP) solutions as well. Contact us today to find the talent you need.
