How to bridge the talent shortage

How to bridge the talent shortage

Finding it hard to source and hire the right people?  You’re not alone.  According to a recent report by Hays, Australian job vacancy rates hit a record high in 2021 and continue to stay higher than pre-pandemic levels.  There are a number of reasons for this, including there being an insufficient number of qualified and experienced professionals in a range of industries.  

In fact, Australia is facing colossal skills shortages according to a new National Skills Commission Report, showing occupation shortages doubled in 2022.  This affects nearly a third of all Industry sectors.  The hardest hit are software engineers, nurses and care workers.

Aside from skills shortages, there are increased rates of attrition as employees are focusing more on how, where and why they work and seeking an employer where all of their needs are met.  Factors such as mental health and wellbeing, as well as flexible working are high on a candidate’s radar.

So if you want to make the best of a bad situation and put your best foot forward to attract talent to your business, what should you be doing?

Recruitment juggernaut Hays recommends the following:

  • Refresh your EVP to focus on values and purpose

Traditionally, Employee Value Propositions (EVP’S) were focused on aspects that employees valued the most: remuneration, opportunities for promotion etc.  More recently, employees need to feel aligned to an organisations value and purpose.  Consider how your organisation contributes to society, whether it be environmental or social and reshape your EVP to align to candidate value sets.

  • Reconsider the skillsets required for your roles

We’ve all heard the anecdote: ‘Hire for attitude, train for skill’ – so map out which roles you can be a little flexible with when it comes to your job descriptions.  Which roles can offer on-the-job training? Is a degree really necessary?  

  • Map out your Candidate experience

Are candidates exiting your recruitment process early or are you receiving a reduced amount of applicants?  Reach out to your candidates for feedback and review your entire recruitment process to work out where the drop-outs are occurring.  Could you compress your recruitment timeframe or reduce/remove some of the hurdles that your candidates need to jump through in order to be successful?

  • Internal Mobility

What are your career pathways so that candidates can work through a number of different roles within your organisation?  This will decrease attrition rates, increase engagement and stop your ongoing need to recruit constantly.

Struggling to recruit and need support?  Speak to the recruitment team at Flexi Personnel.