Business Strategies to Manage Talent Pool Challenges
Oct, 11th, 2021
North Carolina’s Existing Talent Pool
Like other states, North Carolina is experiencing a tight labor market, meaning there are relatively few jobseekers per job opening. This situation is generally advantageous for jobseekers but presents hiring challenges for employers.
As of May 2021, there was only 1.0 jobseeker per job opening in NC, representing by far the most challenging hiring environment in a generation. Tight labor markets are nothing new, but the pandemic and the improving economy have added additional challenges. Concerns regarding health care or lack of child and/or senior care are holding people back from returning to work, while job openings are at a record high as federal stimulus has propped up consumer demand and driven a rapid recovery in business activity.
Low birthrates, low rates of immigration and the retirement of many Baby Boom generation workers will likely keep the labor rates tight for the foreseeable future. To address this challenge, businesses should consider strategies to expand potential talent pools and explore ways to retain talent in order to remain competitive.
Talent Pool Diversification Strategies
Click here for the short guide of strategies and resources your business might consider.
For more information about talent pool strategies, contact your local NCWorks Career Center.