A recent Korn Ferry report found that by 2030, more than 85 million jobs could go unfilled because there aren’t enough skilled people to take them. Yannick Binvel, president of Korn Ferry’s Global Industrial Markets practice, says that organizations must prioritize talent strategy, taking steps to educate, train, and upskill their existing workforces.
Good recruitment strategies are crucial to your success as a business. Every company approaches recruitment differently, but all businesses have to recruit. Fluctuations in your staff will cause vacancies to appear inevitably, but your business can’t run without the right people in the right positions.
“Why is it so hard to find good employees?”
“The skilled labor shortage is one of the biggest challenges facing the U.S. economy, with 650,000 open jobs in the construction industry alone,” said Stanley Black & Decker CEO Jim Loree. “This problem existed long before the pandemic but has certainly been exacerbated by it.”
In our most recent episode, we sat down with Col. PJ Yuson, US Air Force, and discuss SkillBridge—a program dedicated to providing departing service members with job opportunities in the trades.
Check out the episode to learn more about SkillBridge, who it serves, and how your company can get involved.
Employers all over the country are saying things like, “I need construction workers ASAP.” There never seems to be enough talent to go around. Why? As younger generations enter the workforce, less and less are becoming skilled workers. To make matters worse, baby boomers are steadily retiring, creating a skilled trades shortage.
High turnover rates result in huge losses to companies of all sizes. When an employee quits, they take their training and experience with them, leaving other team members to pick up their work. It usually takes at least a month before a new person is hired, which increases employee stress, decreases productivity in the meantime, and may lower future retention rates.