There has literally never been a better time to partner with SkillsetGroup staffing and consulting firm; just do the math.
Here at SkillsetGroup, we’re doing labor market research constantly to make sure we’re getting the best value for our clients and the best kind of pay and benefits for our candidates that we know will keep them happy for the long-term.
And summer 2022 is the most difficult time in recent history to find the right candidates for your open positions – there are half as many workers available as the US economy needs, and employment costs have been rising steadily since last year.
The total number of unemployed people in the U.S. is the lowest it's been since the year 2000. This is great for people who have a job and can be good news for the economy as a whole, but the tight-as-a-drum labor market can make running a business nearly impossible.
The problems firms experience recruiting in-house during these unprecedented upheavals have already started causing some to shutter their operations.
When most people who need a job have one, it's usually great news for the general public. Today, however, the problems in the labor market are making life harder for families.
Labor shortages, for instance, are helping drive up prices for common goods. The supply chain problems exacerbated by the shortages are also driving up costs for average people and making some vital goods and services unavailable in some markets.
The skyrocketing number of job openings that started nationwide in May of 2021 started slowing slightly in March 2022.
But there were still more than 11 million open positions across the US in May 2022, the most recent numbers available as of late July when this article was published.
Education and healthcare services, as well as business services are two sectors that seem to be struggling most to find and retain talented employees. This is where SkillsetGroup can help companies, government agencies and nonprofits of any size make up the difference, especially in the business services sector.
Our highly trained and experienced recruiters in our Administrative, Accounting, and Finance division are pros at finding rare talent to fit your needs.
In May of 2021, the labor market was already tight to an unprecedented degree with nearly exactly one unemployed person per job opening, statistically.
Of course, the skills needed for open positions and the skills US unemployed people possess don't always match up. This means even in 2021 with twice as many people looking for work, firms were unable to fill vital positions.
Hit especially hard are sectors like supply chain, light industrial, engineering and skilled labor. Also in short supply are people with rare technical expertise like full-stack software developers or factory maintenance mechanics for specialized machines.
As of spring, 2022, there were half as many people looking for work as there were jobs available. In circumstances like these, you need a firm like SkillsetGroup with divisions specializing in IT, Engineering, Skilled Labor and Industrial Labor.
Despite the challenges, SkillsetGroup is able to provide our clients with solid, high-flow pipelines of candidates.
We can do this because of our deep connections to our specialty markets and the experience and expertise of our recruitment teams. We couple these resources with our proprietary, evidence-based hiring and retention practices. As a result, we can make sure your production lines are humming and your customer service is at or above pre-pandemic levels.
And won't that be a relief when you see your competitors struggling to find and retain top talent at their firms?
As expected when supply so drastically outstrips demand in a market, the cost of hiring and supporting a labor force at any given company has risen drastically, year-over-year, since 2021.
At SkillsetGroup, in addition to our industry-topping recruitment teams, we offer a fully-customizable suite of HR services, such as onboarding, payroll, safety inspections, claims service, OSHA consulting and other workforce solutions.
Companies who outsource these functions to SkillsetGroup typically save loads of money compared with supporting these functions in-house, driving down your cost of employment for your entire workforce.
Businesses across the US are doing the same math we just did in this article.
More than 64 percent of staffing firms in the US experienced growth over 10% in 2021.
The executives across the economy who are partnering with staffing firms for recruitment will see more profit and increased recruiting across industries compared with their counterparts who handle these functions in-house.
Now more than ever your company needs a dedicated recruiting team and staffing partner like SkillsetGroup in your corner.
Fill out the form below and one of our talented business development executives will contact you right away to tell you how we can serve your vision.
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SkillsetGroup Marketing Content Manager Adam Townsend contributed to this report.
“State of Staffing Benchmark Report”
“Staffing Industry Statistics”
American Staffing Association
Job Openings Survey
Various Employment Statistics and Reports from 2020-22
U.S. Bureau of Labor Statistics
A Division of the US Department of Labor.