Today’s Supply and Demand Job Market

Today’s Supply and Demand Job Market

Supply and Demand Job Market

What Does Today’s Supply and Demand Job Market Really Mean In The NOW Normal?

The supply and demand job market is demanding. While I was waiting for the red light to turn green, I noticed a sign by the side of the road stating, “Construction Jobs, $3500 Sign-Up Bonus”. A news channel reported that McDonald’s offers a $500 hiring bonus if new employees stay on for at least 90 days. What a crazy world we live in right now!  

Employers, now more than ever, are facing the challenge of hiring, finding, and keeping good team members. The challenges start with getting people to apply for the open positions, to show up for job interviews, and ultimately stay on for the long-term – that is for more than seven days. Employers and job recruiters share this same frustration. It seems that conventional hiring practices are no longer working…unless the employer is willing to pay an above-average salary.

Many business owners are disappointed in some new hires because shortly after their onboarding, they decide to leave. Why do they leave? The employer down the street offers higher pay or better benefits. It took a store owner four months to find a sales associate. The new hire worked on a part-time basis on the weekends besides working full-time as an accountant during the week. After four weeks, he resigned. His reason was that he wanted to have more time off.

Basic market economics teaches us about the balance of supply and demand. As far as the job market goes, the job supply certainly outweighs the number of applicants. Companies are competing for applicants and have to be creative by offering incentives just to be considered by job seekers as potential employers. Prior to the COVID pandemic, applicants would compete over an available position and feel privileged to be receiving the job offer. In this post-COVID pandemic, the scales have shifted in the opposite direction.

Nonetheless, business owners and job recruiters should not get discouraged and stay true to their long-term standards. Stick to the hiring practices that have been working well and, if the budget allows, add an incentive to attract the appropriate job applicants. Implement an Employee Retention Program to motivate your staff to keep their employment with you. Employee Retention Programs include employee reward systems, morale-boosting and team-building assignments, and an adjusted wage structure. Within each component, employers can get creative and incorporate competitive games, brainstorming, idea sharing, and/or bonuses. New employees will learn about the Employee Retention Program during their onboarding and realize right away that this is an employer who cares about the staff and is worth staying on for the long run.

Ultimately, unemployment benefits will expire at the end of September, and people will need to get back to work. At that point, the scales for supply and demand will shift again. It is hard to predict how far they will shift; however, we know that there will be at least a healthy, economical balance that reenters the job market where employers and job seekers have options and an effective way to fill positions. Patience is a virtue is this NOW Normal. As hard as it is…we are all on the same playing field. Practice patience!

A useful resource while building a productive team and culture is TrainerTainment’s Building Great Teams Manual.

The TTT Recruiting Experience

The TTT Recruiting Experience

A study conducted in 2018 by the Society for Human Resource Management states that the average cost to hire an employee is $4,129 with approximately 42 days to fill a position. A similar study conducted by Glassdoor found that the average a company in the United States spends to hire a new employee is $4,000 with approximately 52 days to fill a position.

Cost

The cost of hiring can quickly increase, especially when a company has a high staff turnover. Often, companies hire quickly and run the risk of hiring someone who lacks certain skills or job experience, just to have somebody in the position – granted, with the best intent to provide training down the road or hoping that the new employee will take the initiative to learn and get up to speed to make up for the lack of skills. Unfortunately, employment based on these hiring methods don’t last very long and both the company and the employee find out soon that they are not the right fit for the position or for each other, which leaves the company with the dilemma to hire again for the position. This situation, besides the high cost of hiring, can quickly get frustrating for the employer and their team.

Solution

The good news is that there is a solution and companies with hiring challenges can get easy help from experts. Client Recruiting is one of TrainerTainment’s services. A recruiting specialist works closely with the client to customize a job ad for the position to attract best-suited candidates. The recruiting specialist monitors all incoming job applications and follows a thorough screening and interview protocol which includes sophisticated online testing tools to determine the best fitting candidates for the position. Only the top-rated candidates get forwarded to the client for review.

Contact Us

Let TrainerTainment do the heavy lifting for you! Learn more about how you and your company can benefit from this service. Download our FREE White Paper on the TrainerTainment Client Recruiting Experience.

Trainertainment Welcomes Robin Marshall

Trainertainment Welcomes Robin Marshall

I’m very excited to announce Robin Marshall is joining the TrainerTainment coaching and training team. Robin’s experience in the bowling community sets her up as the kind of coach who inherently understands the needs of this market segment.

TrainerTainment has been very involved in the bowling world since the company started in 2005. We believe Robin’s perspective enhances our overall ability to help this specific community grow.

Robin exemplifies the TrainerTainment core values. She is an astute learner. If you spend any time at all with her you’ll “feel” how kind and in service to others she is. Her smile lets you know you are going to have fun if you’re engaged with Robin. Robin is a competitor, so you know she’s a high performer.

When you read her bio below, you’ll notice she states that her goal is “to serve people and help them grow to their full potential!” This is a statement Robin made to me during our interview. I knew then she would be a perfect fit. Robin has been working hard the last 30 days learning the TrainerTainment way. Some of you have met her already. Many of you know her. Please take time to welcome Robin to the TrainerTainment team and raise your hand now if you’d like to be coached by a world class human!

Sincerely,

Beth Standlee
Founder & CEO


ABOUT ROBIN MARSHALL

Robin Marshall has been in the bowling industry for more than two decades. In that time she has served as a USBC Regional Manager, conducting visits and presentations to both local and state associations providing education about current products and programs.

She served as the conduit between USBC and the local association volunteers. In addition, she has been a member of Team USA, a youth coach, and served on both local and state association boards for over ten years.

As a Team USA athlete, Robin served on the Single Membership Task Force that merged all bowling organizations into the United States Bowling Congress in 2005.

Her professional career has also included grassroots coalition building, strategic planning, program management at the local, state, and national level, and volunteer recruitment training. She has provided over 100 trainings/presentations at all levels and her goal is to serve people and help them grow to their full potential.

Are You the Right Person in the Right Job?

Are You the Right Person in the Right Job?

Yesterday, I was listening to a talk show as I was driving my car and I heard someone say, “Love what you do when you are doing it and it will show in the work you do.” It’s funny how messages get reinforced.  Recently, I’ve been doing a lot of reading on this subject and found it interesting I heard this on this particular day. So, I decided to share my thoughts with you on the subject.

Know your passions.

Do you have a passion for what you do? Have you ever thought about your values (what’s most important to you)? Do you know what your employer’s values are? Are they aligned with each other? I guess the most important question is, “Do you look forward to going to work each day?”

These are important questions to be asking yourself. You see, when we love what we do and we have the same values as the company we work for and the people we work with, the pieces come together. We are happy, our managers are happy, and most importantly our customers are happy. Without happy customers, ultimately, we do not have a job. Why? Customers stop spending money and without that revenue, payroll can’t be met and we no longer have our job.

You may be asking, “Okay, so, how does that apply to me? I challenge each of you to take a serious look at who you are. What do you value most in life? A lot of you are just starting out in your job careers. Some of you may be further along or approaching the end of your careers. For everyone, it’s not too late.

Set values & goals.

I encourage all of you to seriously look at this and write down what is most important to you (your values). Set goals so you can live according to your values and decide how you are going to accomplish those goals. This will place you in the right place to find that right job for you. I guarantee once you begin this process, you will find yourself being the right person in the right job….and it may not be the job you are currently in! That’s okay. Find what’s right for you and, in turn, will be right for your employer.

The lesson I learned early on is great. Love what you do, and always have the same values as the employers/organizations you provide services to, and you’ll never dread the work. I don’t get up in the morning wishing I could stay home because I look forward to my day every day. It’s who I am and is part of my life. I always say, “I work hard so that I can play hard.” Because I love what I do, work has become a part of me, like an adventure I may take, a sporting event I may attend, or a night out at the movies.

Are you the right person in the right job?

A Glimpse into the Culture of People Who Serve Others with Cancer

A Glimpse into the Culture of People Who Serve Others with Cancer

I think almost everyone has been touched or will be touched by cancer in some way. Those who work at MD Anderson in Houston, TX live with it every day. I have the privilege of benefiting from that amazing culture.

My husband is unique in the fact that he continues to trip over recurring non-Hodgkin’s lymphoma. He was Mr. Grade School back in the day and so, of course, he gets to be Mr. “I can’t quite get rid of cancer” today. Fortunately, there is this Disney World of cancer care called MD Anderson.

JD and I spent the last week enjoying the care of doctors, nurses, physician assistants, janitors, baristas, cafeteria workers, students, and… and… and… at the MD Anderson campus. To a person, every single team member showed up in a caring way. It was unbelievable. Many times JD and I were walking from one hall or skyway to the next. Often we were confused or even lost. However, we never spent more than 30 seconds wondering if we were going the right way because someone would stop and say, “May I help you?”

Culture defines how people behave. Culture dictates the choices people make. Culture creates a consistent expression of the collective values people share in an organization where culture and values matter more than profit.

You may think it’s easier with a place like MD Anderson but I don’t. I’ll bet they don’t let anyone come to work for them. I think they know what it means to be employed at their campus and if you don’t meet their criteria, you don’t get to work with them.

I wish every Family Entertainment Center would decide what it means to work in your facility. I wish people weren’t disposable. I wish we got it that young people who take a first job MUST learn about being in the work force. I wish you wouldn’t hire people who only have breath and transportation.

I think the job at a Family Entertainment Center is extremely important. If you decide what you want your culture to be and what your values are and you get stubborn about NOT letting people who don’t meet your standard work for you, I think you could be a ton happier. I think your guests would be happier. I think the people who work on your team could be proud of what they do serving others.

Culture matters. Your values matter. Hire people who believe what you believe and you’ll increase the experience of your guests, your team members, yourself, and your profits!

Pin It on Pinterest