In this episode, we’re discussing the big question on every recruiter’s mind: Where did all the people go? It seems that any company looking to hire a great team is having trouble getting anyone in the door or even applying. The job market looks very different than it did five years ago, and understanding what’s going on can help you find the people you need to grow a great company.
In this episode, we explore:
- What the numbers say – How many people are in the workforce, and what that says about labor participation
- How a lot of people retired during or due to the pandemic, leaving the workforce altogether
- What the situation was like before the pandemic and how recruitment was getting steadily tighter up to 2020
- The “Uber-ization of America” or how more people pursued entrepreneurial or flexible work to give themselves complete control over their time
- How the low unemployment rate and low participation rate combine to make a bad situation worse
- The impact remote work has made by making companies compete for talent everywhere, which reduced a lot of local talent by poaching them away
- How being flexible for your best workers can help improve your retention
- That people care a lot more about what they do and are less willing to do things that fall outside of that
- Flexibility is critical for many workers today, and getting creative about providing that helps hold onto the people you need
- Why you should never stop recruiting and what you can do to market your company and attract workers – even when there isn’t an open position
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