We’re In This Together…
Wisconsin’s unemployed hit the 2.9% level. This suggests that we are close to or past the point where there are simply too few looking for positions. That obviously makes our job of helping you fill your open spots more difficult. It also stands to reason that candidates will expect more in wages or salary recognizing the shortage of good people. There are not many games to be played when the statistics hit this point.
Low unemployment is great for the economy, but it is, conversely, not-so-great for employers.
This is true especially if the products/services provided by the employers are critical need products or services.
So what do we both do in this situation? First, we try to keep our retention plans working as well as possible so we have a minimum of open positions.
The hires today may very well cost more in compensation if that is going to be kept competitive with the rest of the employers in that market. You might consider getting ahead of that curve by using some of the hiring budget to secure your key people before you’re looking for their replacements.
If you do not stay competitive, you may run at something less than what is your perfect employment number.
If everyone you have employed is critical to the total operation, you have little choice but to be sure you are competitive; that means in competitive in starting times, breaks, compensation rates, and benefits as well as the little unexpected extras that put smiles on the faces of your workforce.
We will do our best, based on our contacts in the market place, and on our day-to-day involvement with both employers and employees to keep you advised on what we believe is the overall condition in your part of today’s marketplace.
Reacting sooner rather than later is always best.
Period. The Johnny-Come-Lately will suffer unless that recruiter is incredibly gifted. Our recruiters are gifted and that is part of what you purchase when working with WFA Staffing. Our South side office has been a big help to us. We can now effectively recruit for those who have transportation in that marketplace no matter where your need sits. We have also been cultivating quite a few new relationships and those are beginning to yield results.
The long and the short: Please do not delay betting things are going to open up. Our crystal ball says this tight market will continue for some time. In this instance, we’d love to be proved wrong, but that is unlikely to happen.
Tom Krist, CEO