The State of the Temporary Labor Market in 2020
November 11, 2019 | Staffing Blog
Employers are in the middle of a tight labor market where not enough qualified talent is available to fill necessary jobs.
Unemployment is hovering around 3.7 percent and the ratio of eligible unemployed workers to available jobs is less than 1:1, according to the Bureau of Labor Statistics (BLS).
What does this mean for employers utilizing temporary staffing to fill necessary positions?
It means that employers will need to adapt, you may need to review or change your qualifications for certain positions, and you need to work closely with an expert in temporary staffing to optimize your labor force.
How Can Employers Adapt to a Talent-Driven Market?
Many employers grew their company and were highly successful during an employee-driven market. For most of the 2010s, you could be more selective about choosing talent that fit your positions.
Now, the landscape shifted to a talent-driven market where temporary workers have the power to choose not only jobs but also career paths.
The traditional model of workers going to college for a particular field, finding work in that field, and staying in that field for 30-50 years is not reality. Instead, temporary workers are finding different options for work in the growing “gig economy” and creating their own career path.
The onus is on employers to adapt to this market by making your company and your positions more attractive to talent. This can be achieved through employee growth programs, mentorship, and basic employee support that differentiates your company as a place that cares about the growth path and career arc for temporary workers.
Is It Time to Lower Qualifications?
One of the trends that we are already seeing in the marketplace is employers loosening their job requirements to attract more qualified temporary workers.
We recognize that it could be dangerous to lower your hiring requirements if handled improperly. We are not recommending hiring talent without proper paperwork or training qualifications that could present safety risks.
What we are recommending is looking more broadly at who qualifies for certain positions. Perhaps a worker doesn’t have the exact skills you desire for a certain position, but they have equivalent skills that could translate well to the position.
The key is to perform an advanced evaluation of a temporary worker, provide them with actionable training on the skills you desire, help them grow, and develop the talent into a valuable member of your team.
What’s the takeaway for 2020? Adaptation is critical to source the right talent in a market that is driven by candidates.
Work with a Temporary Staffing Expert
We recognize that the state of the temporary labor market favors talent. Because we work with both talent and employers, we are committed to supporting both sides by developing a strong talent network of qualified workers and addressing real talent needs for employers.
What we would like to do is talk to your company about what your challenges are.
- Are you considering lowering your qualifications for temporary workers?
- Do you need qualified talent to fill immediate, medium-term, or long-term needs?
- Do you have upcoming labor challenges such as retirements or leaves of absence?
Talk to our team about how we can strategize a solution to optimize your labor force using qualified temporary workers. We can help identify the best approach to help your company continue to grow during the talent-driven temporary staffing market in 2020.