Your Talent Pool May Be Bigger Than You Think

By Eric Woodruff, CPA, CCIFP
Partner, Director of Audit & Assurance Services
ewoodruff@sponselcpagroup.com

One of the biggest obstacles companies currently face is a record-high shortage of talent. In this recent study, 75 percent of the 40,000 employers surveyed reported having difficulty hiring due to the low labor force. And that demographic represents people working in a wide range of industries across 40 countries and territories — from education, health and government to manufacturing, restaurants and retail.

While the global talent shortage is definitely a troubling issue, overcoming it is far from an impossible feat. In fact, this challenge is a valuable opportunity to open yourself up to recruitment strategies and certain types of employee candidates you’ve never considered before.

This is also an opportunity for you to serve as a beacon of hope — for disenfranchised workers who are looking for a stable loyal employer. Look at companies like Salesforce, which is cutting 10 percent of its workforce this year. Amazon, Meta and Snap have also made considerable workforce cuts. Companies like these appeal to young professionals, so make sure your recruitment campaigns cater toward fresh, skilled talent eager for new opportunities. What do you offer that bigger employers can’t? What’s inherently appealing about the culture of your company and your team members who show up every day?

The feasibility of remote working also opens up new avenues for recruitment. You’re no longer limited to your local area. If the work can be performed remotely, what difference does it make if the employee is five miles or 500 miles from your business? Now, the entire nation can be your talent pool. This not only helps you grow your business; it can lead to a more diverse team as well. People from different places and backgrounds bring their own unique perspective, which is especially valuable in times of economic downturn — when strategizing and problem-solving are vital.

Considering recruitment from different perspectives will help you find your much needed talent. Right now, you shouldn’t expect to find it in the usual places. As a leader, THINKING DIFFERENTLY is critical to your recruiting success. So think outside the box, and don’t give up hope. The right “fits” for your business are out there. You must utilize different approaches and recruiting avenues to secure the talent your enterprise desperately needs.

If we can assist you further with your personal or business affairs, please contact Eric Woodruff at (317) 613-7850 or email ewoodruff@sponselcpagroup.com.