by TaylorWilson

Maintaining the Growth of your Staffing Agency in a Tight Labor Market

Money being tightened because company can't find candidates in labor shortage and great resignation

The US Chamber of Commerce (2022) published an article on May 6 of this year detailing that despite an all-time high of 11.5 million job openings as of March, participation in the labor force has declined to 62.2% in April. With the current labor shortage coupled with the highly skilled workers moving into retirement, it is clear that we are living in a candidate’s market. Despite the “shrinking” market, it is still possible for your staffing agency to grow and prosper.

#1 Increase your Advertising

Take a look at the current and past top performers that you have placed. What skills and attributes do they have in common? What made them stand out and shine? Make a list of these characteristics and use them in your language for your ads, job postings, and promotions. Have your job postings active and updated on as many platforms as possible to reach as many people as possible.

Be aware of the employee that works hard, is qualified, and is essentially a top performer themself, but is not being treated as such in their current role. Consider pitching your roles and openings through the lens of this archetype of the employee. Help them see their value that isn’t being seen in their current role.

#2 Implement a more in-depth Training Program

Get clear on the type of employee that you want to hire. Detail oriented? Meticulous? Creative? Be willing to compromise on skills for the personality that you feel will fit the company. If they are a good fit, they can be trained through a more rigorous training program to develop whatever skills they may be lacking. This gives you more range in your candidate search and can also be a great way to find referrals.

Growth is not stagnant. In order for your staffing agency to continue being profitable in a labor shortage, it is important to be flexible and open-minded in the ways that you navigate the candidate pool. The market is in the candidate’s hands, so it is up to you to entice them and highlight why your agency is their best route of action in the evolution of their career.