You Must Adapt to Survive

May 5th, 2021

From CNN Business, May 4, 2021:

“Demand for goods is skyrocketing as the US economy reopens from the pandemic. But there’s a big problem: American factories can’t find enough people to do the work. Even though US manufacturing activity surged to a 37-year high in March, the industry has more than half a million job openings. Factories are struggling to find skilled workers for specialized roles…..Manufacturers are even having trouble hiring entry-level positions that do not require expertise….Manufacturers say it is 36% harder to find talent today than in 2018.”

In order to succeed in the new normal you must adapt to attract new employees:

  • If you need skilled labor – increase wages and benefits
  • If you need semi-skilled labor – decrease the amount of experience needed without decreasing the pay range
  • If you need few skills and typically do an interview – forego the interview and make the first day a working interview
  • If you need general labor and typically ask for a resume – forego the resume and trust your recruiter’s judgement
  • If you need general labor and don’t require a resume – increase the wage

Adapting to the new normal is unavoidable. Each day that you wait to make these changes is another day your competitors who have adapted are attracting the employees you need.