The Lancaster County Unemployment Rate continues it’s fall. Lancaster County’s jobless rate fell to 4.8 percent from 4.9 percent in February. This is the seventh straight month that the unemployment rate has fallen and Lancaster County remains home to one of the lowest unemployment rates in the State.
Good news, right? Not necessarily. If you’re hiring, or trying to right now, the declining unemployment rate makes it harder to attract talent, as well as more expensive. Fewer candidates mean longer searches and in the end higher wages. We’re on the front lines – and this is exactly what we’re seeing.
This candidate driven market that we’re in means you need to be more diligent and work harder to find top talent. The best and brightest aren’t sitting on the sidelines – they’re working. How do you find them? Well – we can help. Call us. But that’s not my main theme today. Here are some ideas to help you navigate this talent market.
Set Reasonable Expectations. The days of piles of applications for your position are over. Remember you’re looking for quality anyway. I always say I’d rather get three or four great resumes than fifty marginal ones.
Move Quickly. When you find a good candidate – move! They will not be around for long. Don’t get hung up looking for one more candidate. In this market, waiting to see one more candidate could cost you the first one. And by the way – if they have been around for long… be skeptical (see the next point). Don’t think you can take weeks to make a decision on a candidate. We could a few years ago – those days are over.
Be Skeptical. As always please check, check again, and oh, one more time – check again! Know who your hiring. Test them, reference them , background check them, look at their Facebook page. It’s pretty easy to hire someone – not as easy to fire them.
Be Prepared to Pay. Wage pressure is increasing. Our average annualized pay is $23,500 right now. We’re a temp firm. We’re at the lower end of the wage scale. Know the wage market for your open positions and price yourself accordingly. If you need some help – email me – I’d be happy to help make sure you’re paying appropriate wages for your team.
Know Where to Look. Make sure you’re looking in the right places for your candidates. Oh – and those places aren’t where they used to be. Sorry – not telling. I’m not giving away everything for free.
Finally – get used to this. We’re going to be in this market for a while.
Need help? Contact us. You’ll be glad you did.