Think about dating for a moment. Single life is great, but many will admit that adding a partner to your life can make certain things undeniably easier. There are tax benefits, shared responsibilities and most importantly you have someone reliable to collaborate with on a regular basis.
When you get right down to it, talent acquisition isn't that different from dating. The key is to find the right partner.
You need a partner that...
... will support you as you work toward your goals.
... is committed to your success.
... understands your unique needs.
... will advocate for you, but won't overpower you.
... will help you grow.
Finding the right staffing partner can help your company flourish. Today we'll go over some key metrics in the current hiring market, a few reasons why a recruiting partner can be a strong choice and why you might want to choose Beacon Hill as your partner.
The hiring outlook in 2023 and 2024
Open jobs in the United States
As of the end of July, the BLS reported that job openings went down to 8.8 million.
More specifically, job openings decreased in professional and business services, health care and social assistance, state and local government, excluding education, state and local government education and federal government.
On the flip side, openings increased in information and in transportation, warehousing and utilities.
There are many industries experiencing acute shortages. In the education sector, McKinsey & Company reported in March that a third of US K–12 educators are thinking of leaving their jobs. If you pair that retention concern with the difficulty of hiring and training new teachers, it's clear that the space is in trouble.
Food service and hospitality employers are also having hiring woes. In 2022 when over 50 million workers quit, a lot of those resignations came from in-person food service and hospitality companies. While the hiring rates have since rebounded, the retention rate is not ideal, so this area continues to suffer.
Per Deloitte, even though hiring in the manufacturing space is strong, "job openings in the industry are still hovering near all-time highs." There's also continual churn within the space. Like education and food service and hospitality, retention is plaguing manufacturing.
New opportunities in the market
Certainly, the markets mentioned above could benefit from a conscientious retention strategy, but beyond that, there are distinct opportunities in the 2023-2024 talent market.
First off, mothers re-entering the workforce. Yes, 25-54's are back in action in a major way due in part to increased flexibility in the workplace.
Second, individuals with disabilities are entering the market via remote jobs at an increasingly high rate. This accessible work option allows employers to fill their pipeline differently.
It seems that new technology layoffs are reported every day. Technology is a field with highly translatable skills, so keeping an eye on the layoff stories can help you fill open slots.
It's no secret that work/life balance and a need for schedule and location flexibility have changed recruiting. Job seekers' expectations have shifted and as such employers must adapt. Implementing new policies and sharing them in all materials, like job descriptions can help you compete.
Reasons to choose a staffing partner
- Staffing firms hire recruitment experts in different industries who know exactly how to hire the best for specific roles.
- It's one thing to find talent but quite another to keep it, especially in competitive sectors, like finance. That's why certain staffing partners provide options like Dedicated Resources that can help find tailored talent with a minimal risk of turnover.
- Staffing partners help to shrink the time-to-hire metric because they already have relationships with job seekers and project-manage your search.
- If you want to find more aligned talent as opposed to hiring, firing and rehiring for a better fit, a staffing partner is a strong choice.
- While human resources professionals at companies know how to hire staff in general, they are less likely to have experience providing varied talent options. Staffing agencies have flexible options for contract, temporary or temporary-to-permanent, depending on exactly what you need.
- Human resources within companies typically hire people one at a time. Staffing partners can do that, but they also can hire entire teams for you.
- Do you have access to nationwide talent? A top staffing partner has experience in many markets, so you can source talent from wherever you want.
- Staffing agencies have enterprise-wide talent solutions and workforce management services that you can leverage.
Finding a staffing partner
The best way to find an aligned partner for hiring is to take stock of what you need from them. Consider:
- The types of roles you hire for
- The hiring volume you have
- The industry you need to source for
- The schedules you are hiring for (remote, hybrid, in-person, etc.)
- Your goals and priorities
- Your pain points
After that, you can seek out a partner who can help with your unique situation.
Consider Partnering with Beacon Hill
We have deep roots in hiring. Our staffing firm...
...stays on top of hiring trends that matter to employers like you.
...provides nationwide support from expert recruiters.
...has many different divisions. You can trust BH Associates®, BH Financial®, BH HR®, BH Solutions®, BH Legal®, BH Life Sciences®, BH Technologies® and BH Government Services® to help you with your specific needs.
...is experienced in hiring for Accounting & Finance, Administrative & Professional, Digital & Creative, Government Services, Healthcare, Human Resources, Legal, Life Sciences, National Security and Technology.
It's your choice whether you want a partner or if you'd like to stay "single." If you're ready for a commitment and open to finding the right match ... Beacon Hill is ready for our first "date" (some might call it a phone screen).