Forbes: Four Ways To Source And Recruit For The New Labor Market

Albert Galarza is the Global Vice President of Human Resources at TELUS International.

The last 18 months have had a tremendous impact on the labor market. Early in the pandemic, we saw unemployment rates soar, and now, with economies recovering, a new era has emerged for job seekers.

Today, roles are being created at a record pace across key industries like tech, healthcare, fintech, e-commerce and customer service. LinkedIn's Jobs on the Rise report shows the pandemic has created more demand for human-centric roles. Hiring for frontline employees in the e-commerce space grew 73% year-over-year, and there are now more than 400,000 jobs up for grabs. Reports also indicate that Google intends to hire 10,000 new employees by 2025.

Despite the increase in demand and roles created, the number of people working or looking for jobs has declined. Since the start of the pandemic, millions of Americans have stopped working or halted their job search. This statistic includes Baby Boomers, many of whom have decided to retire early, as well as parents of young children who have reduced their hours or left the workforce entirely to care for their children when daycares and schools closed their doors.

As the global pandemic continues to evolve, organizations continue to assess its impacts on their operations and ability to meet the needs of their customers, and they're all asking the same question: How can our company attract and retain the top talent needed to remain competitive? These four strategies can help.

1. Expand and innovate your hiring practices.

Rather than only looking for candidates with a high level of experience, brands should consider widening their search and expanding their focus to include applicants who show potential with soft skills, ambition and the motivation to learn the requisite skills.

According to corporate talent, HR and learning analyst Josh Bersin, companies "have to rethink the idea of 'building a talent supply chain.'" Bersin describes a "Pixelated Workforce" in which "people of all ages, backgrounds, and education are working in jobs they never dreamed about."

The opportunity to attract candidates who can be molded into valued employees does exist. As Bersin points out, 25% of Americans switched occupations in 2020 and 27% expect to do so this year. "Companies have to open up their career models and start hiring people for skills and values, not just tenure and job level," he says.

2. Focus on developing a high-performing, engaged culture.

Now, more than ever, company culture is key.

The Workforce Institute 2021 Engagement and Retention Report from Achievers, an employee recognition and engagement platform, shows that 42% of employees believe company culture has diminished since the start of the pandemic, and 46% now feel less connected to their company than they did pre-Covid-19.

These disappointing statistics present an opportunity for organizations to reflect on their values and beliefs and look for meaningful ways to bring them to life in the current climate. For example, companies can organize regular "Ask Me Anything" sessions with their leadership teams to engage with employees or host fun, virtual game nights to build camaraderie or enable employees to connect with each other and celebrate successes through an online social platform.

A strong company culture can often be the deciding factor for top talent who often receive competing offers in today's job market, as flexible work schedules and styles can often trump more traditional benefits in the post-pandemic economy.

3. Cultivate new skills within your existing workforce.

There's another way to prepare for the new labor market and that's by upskilling your existing workforce. Upskilling can increase the scope and abilities of your existing workforce while keeping your top performers happy and loyal. It can also save on costs associated with hiring and onboarding, which you can then invest back into learning or training opportunities for your employees.

Be proactive about offering exclusive training opportunities and stretch assignments to ensure your team's personal and professional career goals are being met, as 78% of Americans reported that corporate learning and development programs continue to be important to them during this time.

For example, TELUS International University - a program designed to help our team members complete a degree through subsidized tuition and onsite classes - offers our employees the chance to pursue a degree in accountancy, information systems, entrepreneurship, computer science, library and information science or tourism management.

By investing in your employees and supporting their education and training, you are showing how much you value their ongoing development and contributions, which can also help increase employee engagement and job satisfaction. Besides retaining top talent, highly engaged employees will become brand ambassadors for your company, helping support corporate recruitment efforts through their personal networks.

4. Make it attractive to join your team.

Company culture and career development opportunities may be enough to ensure you successfully navigate the post-pandemic world, but there's still one more aspect of employee acquisition and retention that should be top of mind. To keep your team engaged, make sure you offer the flexibility that today's job seekers are seeking.

Be open to offering a spectrum of work styles, including remote, hybrid, gig and part-time roles. Also, offer employees access to next-gen tech that mimics what they use in their daily lives. Mobile apps are a good place to start, as they're functional and familiar. These can be used for learning and scheduling, virtual recruitment, 24/7 self-serve bots and more.

Companies that hope to recruit top talent in the new and fluctuating labor market must adjust their strategy and tactics accordingly. Adapting to the changes in job seekers' personal and professional priorities will ensure your workforce stays strong. As TELUS International president and CEO Jeff Puritt once put it, you need to think of your team as the keys to your car. "Without them, you go nowhere."

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