Unemployment is Going Down, How Does This Affect Hiring

We have all been happy to see the economy bounce back after years of struggling when the Great Recession hit in 2008. It has certainly been a long time coming, and with the rising economy we have also seen reduced unemployment. Employers have the confidence they need to bring on new projects and new team members.

You might be asking, what does all this mean for hiring? It’s likely to have a number of impacts on long and short-term hires. Here are a few things you should take into account when bringing on new staff in a rebounding economy.

Employer Competition is High

It might take a little more effort from your end to hire the key team members you have set your sights on. As more jobs become available, employees are looking to get the most bang for their buck (or hard work in this case). This could mean employees asking for higher salaries and better benefits, but it also means they are looking for more fulfilling work.

These days, it takes more than a hefty paycheck to really appeal to key players in the industry, especially when you are considering strategic business hires. Employees are looking for work that is interesting, exciting, and puts their skills and experience to good use. They want to work for a company that appreciates their staff and one who is committed to their personal and professional development. Employees want a company that understands the need for a high-quality work environment and encourages a good work-life balance.

Attracting Key Players

How can you make your company more appealing to these key hires? Start by cultivating a healthy work culture, one where team members are committed to the success of the company and motivated by their work. Encourage use of vacation time, and offer flexible hours or telecommuting when it makes sense for the job. Worker safety programs are crucial and will positively impact investor confidence in the company as well. Mentoring programs are another way to show your commitment to an employee’s work satisfaction and long-term success. It is critical to exemplify your company’s loyalty and commitment to staff in order to attract and maintain the interest of the best workers.

New and exciting projects will also help to attract key team members. Employees are no longer as concerned about making ends meet in a struggling economy, so they are more willing to take risks in terms of the projects and positions they undertake and accept.

Beyond Financial Incentives

Financial bonuses and salary incentives are, of course, a strong way to attract the best workers in an industry. Knowing where your competitors stand will help your company remain competitive. Attractive benefit packages are also important in charming potential hires. Medical and dental coverage are generally standard, but consider the types of coverage each plan provides. Not all plans are the same caliber. Health and wellness programs, gym memberships, and even company sports teams are all additional ways to show staff that you are committed to their health and happiness.

Sentech Services can help you fill your job openings with skilled and reliable employees. Contact one of the top staffing agencies in Michigan today and we will help you fulfill your job requests!

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