Hiring continues to get more difficult. A long-term trend — known as the sansdemic — has seen the labor market get tighter in recent years, a shift that promises to continue into the foreseeable future. This will significantly change the way you think about your team-building process, making hiring and retention more difficult.
Among the causes for this building crisis: a growing number men aged 25-55, who should theoretically be in the prime of their careers, have been disappearing from the workforce. Where have they gone and how can you connect with this potential source of talent?
A Mysterious Hole in the Labor Market
Much has been made about the wave of retirements that has impacted the labor force. As Baby Boomers have pushed further into their golden years, this crucial generation has been removing itself from the job market. This has contributed to an overall lack of available workers — making recruiting more difficult for employers and contributing to higher costs.
However, the departure of older workers only represents part of the story. Other demographic groups have also played a role in the overall tightening of the labor market. Specifically, there has been a growing number of prime-career men who have faded from the labor force.
A report published in the New York Post places the number of missing workers at seven million. These are able-bodied men between the ages of 25 and 55 who are not working and not actively seeking a job. This absence is putting pressure on a labor market already stressed by Baby Boomer retirements and decades of declining birthrates.
Where Are These Workers and How Can You Find Them?
Changing market dynamics has put a premium on finding workers. Given the growing sansdemic, any steps you can take to discover hidden talent will give you a competitive edge. This involves connecting with those mid-career men who have stepped away from the labor market.
Doing this requires understanding why they’ve left and what you can do to attract them back into the workforce. Based in part by research conducted by The Brookings Institution, here are some challenges faced by men aged 25-55:
- Skills Gap: Many of the potential workers in this group lack the skills necessary to compete for many positions.
- Long-Term Economic Discouragement: A lack of employment can become self-reinforcing. Laid off or dislocated workers can become discouraged if they can’t find a position immediately after losing their previous job.
- Family and Other Non-Work Obligations: More men have taken on roles such as stay-at-home parent.
- Post-Pandemic Issues: The pandemic created havoc for the labor market. Many workers have had trouble finding their way back into the workforce.
Given these conditions, here are some steps you can take to reach out to workers impacted by this trend:
- Provide extensive on-the-job training.
- Be more flexible in your expectations for job candidates.
- Advertise your willingness to consider candidates with limited experience.
- Offer remote-work alternatives where possible.
- Allow for flexible scheduling options.
- Look for passive talent through methods like social media.
- Launch an employee referral program, allowing your current team members to recommend friends and family for open positions.
Many broad trends are contributing to a lack of workers. Still, you need to make the best of the current labor market, whatever the challenges. A top recruiter, like PrideStaff, can give you the edge you need.
Contact PrideStaff Bend today to upgrade your recruiting process.