Why are you still having problems filling all your open job positions? There should be plenty of able and willing people to fill the workforce, right? Let’s take a closer look.
First, it appears that the U.S. job creation continues to steadily grow, adding 339,000 jobs in May according to the U.S. Employment Situation Report, adding competition in attracting any job seekers for those already existing openings. There just aren’t a lot of people looking for work. The Bureau of Labor Statistics reported that the unemployment rate in May was 3.7 percent, remaining consistently low for more than a year, “the longest period of sub-4 percent unemployment since the 1960’s”.
Second, we can’t ignore the fact that Baby Boomers are retiring earlier than anticipated. This puts a strain on organizations trying to scramble and revise their succession plans. And it is noteworthy to mention the skill gap dilemma when these seasoned employees are replaced with less experienced staff. An article, Widening Skills Gaps: Reflections on a Growing Trend, by Everything DiSC® mentions that their survey discovered that the highest skill gaps include:
Technical skills at 42%, particularly in the industries of Military/Defense, Healthcare, and Manufacturing.
Soft skills at 32%, especially in the industries of Human Resources.
Hard skills at 12%.
Third, the available youth for the workforce has been declining. The National Vital Statistics Report dated January 31, 2023 reports the birth rate for the United States in 2021 was 11.0 per 1,000 population (56.3 births per 1000 women aged 15-44 years), as compared to the birth rate of 13.0 eleven years prior in 2010, and 14.1 twenty-four years ago in 1999. The study further shares that “For 2014–2019, the number of births had declined by an average of 1% per year. Previously, the number of births declined by an average of 2% per year from 2007 to 2013…: You can see the trending decrease in birth rates over the years, thus the shrinking current and future job applicant pool.
Knowledge, agility, and preparation are key to tackling this struggle. You will be ahead of the game with the helpful content, tips, and suggestions in our live or virtual trainings:
Contact me if you would like more information on how we can help you with your staffing struggles.