Evaluate Your Staff Needs and Wants

The first step in overcoming the labor shortage is figuring out exactly what positions you need to fill. Do you have a position that is currently vacant? Or are you hiring for the first time? It’s essential to be realistic about the skills and experience you are looking for in a candidate. You may also want to consider what benefits you can offer potential employees. Flexible work-from-home policies, a 401k plan, and paid time off can all help you attract top talent.

 

Offer Competitive Salaries and Benefits

Salary is just one component of a competitive compensation package. Sign-on bonuses, RSUs, and a strong benefits package can all help distinguish you from your competitors.

Offer Flexible Hours

Many workers today are looking for flexible hours. They may want to work from home a few days a week or come in early and leave early one day a week. Many small businesses are in a good position to offer this benefit.

Create A Strong Company Culture That Employees Want to Be a Part Of

Employees want to feel like they are a part of something special and to work for a company that values them. You can create a strong company culture by offering unique perks, such as free lunches, happy hours, and team-building activities.

Invest in Technology that will Automate Tasks

Investing in automation technology can allow you to address the labor shortage by narrowing your employee search. For example, you can invest in payroll software that will automate some previously-manual functions.

Celebrate Success Together as a Team

When employees feel like they are part of something special, they will be more likely to stay with the company for the long haul. You can celebrate success by holding team dinners, sending out thank-you notes, and recognizing employees for their hard work. This creates feelings of camaraderie and belonging that employees are looking for.

Here Is What to Do Next

Though the labor shortage will continue to challenge employers over the coming years, if you use the six strategies detailed here, you can find the talent you need to succeed.

IMA select focuses on designing and developing insurance strategies that will allow