In a job market that is at tight as it is now, it shouldn’t be a surprise that speed is the key to locking down a hire or an incoming lead. Competition for talent in almost every industry is at an all time high so making sure that your voice is heard first can be key to filling that position or landing that contract.
With the Driver shortage as prevalent as ever, a new study by Stay Metrics is showing that new Driver retention is also a huge issue for carriers nationwide. But what could be causing a large percentage of Drivers to jump ship before hitting the 90 day mark?
As it sits right now, according to the American Trucking Association, it is estimated that trucking companies nationwide are experiencing a driver shortage of over 60,000 drivers short. In fact, this shortage is expected to grow in the coming years which could ultimately effect you, the end consumer.
The term “Ghosted” has become all too familiar for employers over the past few years and the trend doesn’t appear to be slowing down anytime soon. But what could cause a prospective hire to fall off the face of the earth without a courtesy email or phone call?
When you hear someone utter the phrase, “You have real talent” the first thought is that they are most likely at the top of whatever industry or profession they work in, excelling beyond their peers. With that said, we don’t always need the best “talent” for a role but someone with the right set of skills that will enable them to excel to the talent your company is looking for.
According to U.S. Census Bureau data, the number of truckers out on the road is at an all-time high. However, the driver shortage still appears to be an issue. In fact, Census numbers are showing more truckers now that before the recession in 2007. Where is the disconnect?
In today’s job market, finding and engaging with passive talent is the name of the game. When it feels like all of the active job seekers are either being snagged too quickly by the competition or fall into the skills gap paradigm, hiring managers resort to seeking out passive talent and asking for referrals. While passive talent can be found on any number of job boards, the key here is to remember that in order to get good referrals, your candidates need to have a enjoyable and positive experience with the hiring process from the get go.
Like with any company or organization, regardless of the industry, culture and teamwork go hand in hand when discussing the overall health of the company. With that said, what do you when one of your top performers doesn’t get along with the rest of your team? They bring in the most sales but tend to butt heads with everyone. Honestly, the most simple solution may also be the hardest; if your top performer is causing a toxic or hostile work environment, they need to go.
We may already be a quarter of the way through the new year but it is never to late to try and plan for what lies ahead. This is no different for the construction industry in 2019. However, a report released in late 2018 may, in fact, show a very minimal change in construction activity, only increasing in revenue by about $2 million from the previous year. So what does this mean?
In short, this could simply mean that while record growth within the construction industry is starting to plateau, spending and activity related to projects are most likely going to stay constant through 2019 with very minimal increases in overall spending. However, there are still some key factors that indicate a change is on the horizon. Based on past events with a similarly strong economy, this level of growth and spending is simply not sustainable over a long period of time.
Chief Economist and VP of Dodge Data & Analytics, Robert Murray, believes that a even if the construction industry sees a decrease in activity that doesn’t necessarily mean that the overall state will suffer a decline. It is his belief that overall value and spending on construction starts will achieve a “deceleration…the enhanced level of activity that has been achieved over the past several years.” In essence, the construction industry may fall back to where spending and activity was at its most profitable and sustainable over the past few years; a decline but not drastic.
However, according to Cristian deRitis, the Senior Director of Moody’s Analytics, the biggest red flag indicating an economic decline is the steady but low unemployment rate. Cristian argues that, historically, “any time unemployment hovers around 4.5%, recession comes about three years later.” And, in fact, ever since March of 2018, the unemployment rate has been steadily dropping. With this information in mind, according to Moody’s Analytics and the Bureau of Labor Statistics, this could mean that the economy is due for a recession next summer.
In addition, it is no surprise that the desperate demand for a skilled workforce is effecting the overall health of the construction industry. In a recent survey performed by the Associated General Contractors of America and Autodesk, 81% of those surveyed said they are having a hard time filling craft positions and 56% said the same thing about salaried positions. Where a small number of contractors are attempting to sustain through the labor shortage, the overall problem is that economists agree that is a problem that isn’t going away overnight. Only time will tell how much the construction industry will be able to retain this level of productivity through a long-term labor shortage and consistent low unemployment rates. However, all signs seem to point to 2019 remaining steady and profitable.
The Trillium brand of companies is privately owned by René Poch and provides more than 30 years of industry leading recruitment and staffing services through its divisions including: Trillium Staffing, Trillium Construction Services, Trillium Driver Solutions, Trillium Marine, Trillium Technical, Trillium Environmental, Trillium Hospitality and Trillium Techs. With approximately 100 offices nationwide and nearly 400 internal recruitment professionals, the Trillium brand is proud to be recognized by Staffing Industry Analysts as a Top 25 Largest Industrial Staffing Firm in the U.S., a Top 100 Largest Staffing Firm in the U.S., a Top 100 Fastest Growing Staffing Firm in the U.S., and a winner of National Best and Brightest Companies to Work For. For more information please visit www.trilliumstaffing.com.