Cost of New Employees
There is a usual rate of increase in the cost of new employees as anyone in business understands. We are, obviously, in a situation today where that increase is greater than it has been in the recent past. Business in general is on the uptick. Certain types of people with certain backgrounds are in even more demand than has been usual for the past couple of years and that shows no sign of abating.
The demand for employees is increasing at the same time that people are less available for those positions.
This is contributing to churn in the marketplace that has not been present for some time. And, it is churn in almost every aspect of employment. Of course, that impacts the cost of new hires.
This is a time when those who want to explore new positions ought to be polishing their resume and giving serious thought to entering the market. If you are one of those people, we encourage you to reach out to us. If you are not yet among that group of employees, you may wish to rethink. We are happy to engage you in trying to help you decide what you should or shouldn’t be doing today.
The pressure is hitting virtually every aspect of the employment marketplace. Collar color is not nearly the driver that it usually is given the market. Of course, those in the relative rarified echelons of employment may find this is not quite so pronounced except in certain types of positions.
Project managers are in greater demand given all the construction and rehabilitating of older buildings as business expands to handle the demand load. Experienced Project Managers are usually in demand so this added demand represents significant increase in pressure in that world.
Employers are feeling the pinch in many sectors. Some of this is obviously due to the major projects that have recently hit S.E. Wisconsin. There is, however, spill-over to sectors that are usually quite stable in demand. We see needs at nearly double the usual levels in some areas.
Our recommendation to employers is simple: anticipate what your needs may be in six to twelve months and begin the search process today rather than waiting for two or three months.
The Foxconn build-out may not directly impact some employers, but there seems a carry-over from that new activity that is hitting many types of employment.
If you are feeling this pressure or even if that has not quite become your problem yet, we urge you to begin contemplating what your needs may be six to twelve months from now. Then put a plan into place today to accommodate that expected demand. We have found that it is less costly to look ahead than to try to hire when the supply is drying up. Better qualified people are typically available earlier and they are not available long.
Give us a call no matter which end of this situation you may be involved with-an employer seeking the right person, or the right person who might find the perfect spot opening without having been advertised.