Talent Bubbles
I'm not sure about the rest of you, but for me, Q4 of every year is where things get interesting. Business is back at full steam with the kids back in school, people are trying to get as much done as they can before the holiday breaks, and the prep for a new fiscal year in January gains urgency.
In my Human Capital Management world, the fourth quarter has a LOT of impact on business practices and processes. There are lots of vendor evaluations, hiring sprees, and layoffs. If you're in the hunt for talent during this time of year, you will face some stiff competition. That environment can be great for the prospective employees, but can add a lot of aggravation and stress for those doing the hiring.
The example I run into a lot this time of year is companies hiring drivers. I see a dozen signs a day on the side of the road talking about "If you have a CDL, you will be hired!" while I visit clients on the south shore. Companies staff up significantly to account for the increase in retail traffic and purchases and it has a significant impact on the talent pool. There have also been an increase in franchise opportunities with companies like Fedex and Amazon as they continue to expand in this vertical market, further increasing demand for qualified employees to fill the job openings. This is just one example of increased competition in the "War On Talent".
Smart companies use partnerships to give them a competitive advantage while they compete for the best of a shrinking talent bubble. Having someone to give outside analysis of processes like hiring and terminations or even comparing compensation packages against others in the same field can have a lasting effect on employee engagement. Having those partnerships shoulder the load of the initial contact with prospective employees can further streamline your hiring process so you only spend your time interacting with the best of the bunch. Long story short, there's a better way.
By the year 2020, 50% of the job market will be millennials. If that scares you, I'd love to have a conversation. If you're excited about that, I can make you more excited. Your friendly neighborhood client specialist is always willing to help.
-Jacob