The story isn’t a new one in Minnesota: The unemployment rate is near historic lows. Companies are fighting for the same candidates, resulting in higher pay. Or they can’t find enough people with the right skills.
Hormel is building a child-care center in Austin, Minn., to help with a barrier it saw. Others are supporting short-term affordable housing or offering four-day weeks.
Some are employing more traditional strategies, but the key to all the efforts is to go beyond simply issuing job postings in the continuing tight job market.
“There are two major challenges we’re seeing and experiencing this year: a competitive market and gaps in skills,” said Megan Meehan, early career program lead at Minneapolis-based Ryan Cos., 14th on the Star Tribune Top Workplaces list of large companies. “When it comes to the market, in order to secure top talent, the recruitment process needs to start early. This includes building a pipeline of candidates before the job is even open and attending career fairs in the fall to fill internships that start in the summer.”
Other strategies suggested by the Academy to Innovate HR include tapping your own workforce to be a type of branding campaign by recruiting people. More than 60% of companies that have incentives for employee referrals said on a recent survey that the program reduced how long it took them to find employees.
A formal and savvy branding campaign for job searches also is necessary, added to regular online marketing and amplification of company values and culture, the group said.
The group said companies might need to find non-traditional candidates, whether training potential employees themselves or looking to populations such as retirees who want to work part-time.
Meehan agreed that companies need to be prepared to offer training and development to bridge skill gaps and also retain employees.