Obviously, you might logically say, "that is good!" You would most certainly be on track feeling good about everyone in your area having a job. Getting everyone working and being more self-sufficient is our logical goal.
WHAT IS FULL EMPLOYMENT?
For many years, the marketplace has considered 4% to be reaching a full-employment level. Very few employee choices are available. Many in the 4% (unemployed) group have little or no talent to offer. No basic valuable marketable skills. Most of these unemployed persons have a very poor work history. Not all, but a large majority have a limited education at best.
OUTSOURCING and DOWNSIZING
News continues to flow regarding outsourcing by major employers in almost every industry. Jobs are moved to an "outside" service for economic reasons. Many employers cut their workforce to meet PROFIT expectations for the quarter. Good decision? Not the issue when the level of profit is deteriorating and action is imperative.
Big Banks along with the Utilities and other large employers are challenged to meet stockholder demands for PROFIT. "Cut the staff" seems to be a Boardroom edict.
OUT OF THE COUNTRY
Textile industries are faced with layoffs when jobs leave the country for cheaper labor costs. There is NO choice for those who no longer have the orders to fill.
Companies are faced with NO price increases in many industries, including the service sector. Wages are challenged along with benefits for the employee.
You'll find many x-employees with 20 plus years of service. Loyalty was great. Many have worked for years beyond the call of duty. Dedicated to his/her job. Dependable. Trustworthy. Terminated!
Skills and talent are one-dimensional. No chance of finding a new job in the same industry. Non-transferable skills. It becomes a "start over" challenge for the x-employee.
Another problem is the wage level after 20 years or even fewer years with the same employer or industry. Instead of a 10% raise the "new" employee may end up with a 50% decrease to the beginners' salary scale and often without any benefits.
SOURCES TO CONSIDER
Being objective is challenging after 32 years in the personnel business. However, my suggestions come from a good base of background experiences in hiring thousands of "staffers" for a wide and diverse client base.
Just for the record, I'll include some other sources where good employees can be recruited. You have to GO BEYOND the old methods and expand your horizons in today's' marketplace.
YOUR EMPLOYEES (best source for many firms)
Business Associates [networking]
Civic Organizations ~ Technical Colleges ~
Community Colleges ~ Business Colleges ~
Universities ~ Churches
Temporary Help Services [Staffing]
Personnel Agencies [Recruiters]
Where is YOUR next 'good' employee? None of us know until every base is covered. Your first try may be good enough. Other times it may take 15 searches and interviews before you find the skill and talent required.
A major benefit to YOU in using a Staffing [Temporary Help] Service and/or a reputable Personnel Agency (some do both) is that recruiting, interviewing, and testing is an EVERYDAY activity.
EXPENSE Vs INVESTMENT THEORY
Hiring employees is an INVESTMENT in the future of YOUR business. Not an expense! Pro-rate the FEES for professional services over 12/24 months. Your weekly or monthly cost is nominal for the return benefit of a QUALITY hiring decision.
One final thought. Involve YOUR staff in the hiring decision of your future employees. Share the interview process and get input from those on the "firing" line. A good business practice to follow.
Don Monteith spent 32 years in the Staffing Business. His firm placed thousands of job candidates in their dream job. Today, he shares his expertise. Learn more by visiting his website at: