It’s no secret that the U.S. industrial sectors are suffering from labor shortages in the skilled trades. And recent projections indicate that things are getting worse, not better.
According to the 2018 skills gap and future of work study conducted by Deloitte and The Manufacturing Institute, 53% of available manufacturing jobs lie vacant due to skills shortage. Looking ahead, the study projects 2.4 million unfilled U.S. manufacturing jobs by 2028, placing $465 billion of U.S. manufacturing GDP at risk.
Manpower Group’s 2020 report, Talent Shortage 2020: Closing the Skills Gap: What Workers Want, highlights that 54% of global companies report talent shortages, with half of the top 10 most impacted job roles sitting squarely in the industrial sector – skilled trades; engineering; driving and logistics; manufacturing and construction.
As an in-house talent acquisition or recruiting professional, you’re on the front lines of the battle for best-fit talent—the dependable, skilled tradespeople who show up to the job site or on the plant floor and get the job done from day one. Your competitors are using the same sourcing channels you’re using to find talent for your open projects and positions: company websites; generic and industry-specific job boards; staffing agencies; and third-party recruiting firms.
Aside from your competition crowding traditional sourcing channels, they all share the same limitation: they are transactional, designed primarily to support your immediate hiring needs. Moreover, the direct costs of transactional sourcing channels get expensive quickly. Job postings run from $200 to $500 per active post, per month. Per hour or per diem rate markups from staffing firms can reach 50% to 100%, depending on the job role. And placement commissions from third-party recruiters are typically 10% to 30% of the placed candidate’s first year salary.
Enough with feeding the meter every time you need to backfill your crew or grow your business. Surehand believes it is time industrial employers and their HR organizations had a better talent sourcing solution for skilled tradespeople. One that unlocks a continual talent sourcing mindset; one that enables you to plan, build, engage and nurture a pipeline of active and passive candidates, well before your hiring managers need them; one that isn’t constrained by the unpredictability of variable fees; one that your CFO will love.
And beyond the favorable optics with your C-suite, as a talent acquisition professional or in-house recruiter, you’re better off spending more of your increasingly limited bandwidth closing best-fit candidates for your organization (versus screening hundreds of unqualified applicants sourced through less specialized channels just to get to your short list). During research conversations we’ve had with hundreds of industrial employers over the past two years, we’ve consistently heard that in-house talent acquisition professionals can spend from 50% to 80% of their time on sourcing candidate leads alone. Assuming an average annual salary for an in-house recruiter in the U.S. of $50,000 per year, sourcing activities cost employers $25,000 to $40,000 per year, per recruiter.
We built Surehand from the ground up for the skilled industrial trades. We started fresh, unconstrained by dated, transactional business models propagated by old school sourcing channels.
Our unlimited hiring platform is centered on a fixed, annual subscription model with zero variable fees—a model that doesn’t prevent talent teams from finding, engaging and nurturing best-fit candidates for both near- and long-term staffing needs. One that doesn’t encourage employers to settle for less than best-fit talent for every open position. And one that doesn’t result in unnecessary friction for workers who apply for jobs—only to never get a response from the hiring company, let alone a good job.
All you can HIRE!™ is our rallying cry. And we’d like it to be yours. If you’re ready to be the hero in your organization’s battle for best-fit skilled industrial talent, click here to learn more.