Everything has changed — for employers and for job seekers. The pandemic will continue to rewrite history and alter the landscape we had all grown accustomed to. But what should recruiters do? How should job seekers react? How should HR professionals prepare for what’s next?
While no one can predict outcomes, what we can do is learn from history, and try to not repeat the mistakes of the past. Back in the 1930’s, FDR’s New Deal Built a road to recovery for many Americans. Re-skilling to learn new trades was required for many to meet the demands of the new jobs that were made available through the Works Progress Administration (WPA) and other programs that ultimately put over 8.5 millions of Americans to work.
There will be no easy answers to aid all the dislocated worked immediately, but history shows us that in order for change to take root, effort must be made at the individual level. While solutions are debated and pivots and programs are made and launched at both industry and governmental levels to help stem the tide of unemployment, we encourage those individuals who have been affected to take action. With the proliferation of online learning, acquiring a new skill is literally at the fingertips of everyone. Finding a focus, and spending time each day to enhance your skill set is one of the simplest ways to engender confidence, show your motivation and increase your job prospect horizon. Here are some of the top skill building resources available:
To be clear, acquiring a new skill is not going to solve financial hardships — working and earning are the only way to accomplish that in the long term. But if you’re out of work, do what you can to be prepared for what’s next.
Employers have an opportunity as well. By hiring people with better matched skills, and closing the job-ready skill gap for the jobs that need to be filled, companies can positively affect productivity, retention and profitability. The Work institute calculated that the cost of employee turnover was $536 billion in 2016. In order to reduce that number, our focus needs to be on solutions that help to train the future workforce with the right skills and competencies so when hired, they can hit the ground running, and feel empowered to do the jobs they are hired for.
Small and mid sized companies should also take a page from bigger companies playbooks when it comes to developing retention programs. It’s not enough to simply hire better, but by providing upside potential to workers, companies will see a dramatic increase in retention. A 2019 study by ihires showed that 11.7% of respondents were not happy with the lack of growth or advancement opportunities within the workforce.
Loyalty is fostered by opportunity, so why wait?
CareerPath helps small and midsized companies structure recruitment and retention programs that effectively build employable skills, offer incentives for growth, and help retain their workforce longer. By developing skill programs based on national data of similar companies, we help our clients develop better job postings, create long-tail recruitment strategies, and put in place meaningful retention programs that foster loyalty.
From adversity comes opportunity. There’s no time like the present for job seekers to build their skills and for employers to build a better system for improved hiring, retention and profitability!
Best of luck to everyone out there. As we all struggle through this unprecedented collective challenge, try to take the long view, opportunities will arise and a new workforce era will begin!