Combat the US labor shortage with these 5 ideas
National Association of Home Builders President Jerry Howard on the state of the housing market and the labor shortage in construction.
There are more U.S. job openings, about 7 million, compared to the roughly 6 million workers in the market for a new position. Industries including manufacturing and construction can't find enough workers with the proper skill set to hire.
As a result jobs are sitting unfilled and projects are being put on ice. Plus, the tight job market, with unemployment sitting at 3.7 percent the lowest since 1969, is making hiring even harder.
There are ways employers and employees can avoid falling into the less skilled trap, according to Joanie Courtney, Chief Marketing Officer at Employbridge, and President, Professional Division (RemX). She shared this advice with FOX Business for those looking to up their game in the workplace.
Keep learning
Offer online learning courses to your employees at no cost. Give your employees the time and a quiet space to learn during the workday.
Start an apprenticeship program
Create an apprenticeship program to teach new employees the business. It can be a combination of classwork, on-the-job training, online research, and learning. It could also be designed as a mentorship program. Team-up your baby boomers with millennials for on-the-job training. You can make the training reciprocal since each generation has unique skills to teach the other.
Tuition perks
Offer a tuition reimbursement program. Demonstrate your commitment to ongoing learning for your employees. Not only will it improve workers’ skills but it will also help drive employee retention, which is important in this tight market.
Line up learning partners
Partner with a trade school or learning institution to bring new students into your organization for on-the-job training as interns. This could be a great source of future workers.