Avoid a Staffing Labor Shortage With Fair Pay Practices
We are currently experiencing what is being called the Great Resignation. In November 2021 alone, 4.5 million United States workers quit their jobs, leaving businesses unable to sufficiently attract and retain staff. This event is occurring for a variety of reasons, but what can an individual business do to reduce their unwilling participation in this historical event? Here are a couple pay-related things a business can do to ensure it doesn’t experience its own staffing labor shortage.
Offer Fair Pay
One major complaint from workers is the fact that many positions offer entry-level pay for experienced workers. Attempting to attract workers who hold advanced degrees or have years of experience in their field under their belt with paltry compensation is a major reason why those businesses cannot maintain staff. Be sure to offer fair compensation, keeping in mind that a well-paid employee is often a loyal one.
Disclose the Pay
Gone are the days where a job posting can omit the range of compensation from the job posting. The frustrations and financial costs associated with preparing for and attending an interview only to discover that the pay is below what is desired is a major driving force as to why workers choose to stay unemployed – the mind games are simply not tolerable. Be sure to clearly disclose the pay or range of pay in every job posting.
By following these two rules, a business has a much better chance of attracting and keeping quality workers and avoiding a staffing labor shortage.