Pandemic-necessitated operational changes meant many businesses had to reduce headcount last year. As customer volume increases again, many companies may need to bring back or hire new workers. In fact, LinkedIn® reports that 40% of industries are already experiencing hiring rates above pre-COVID-19 levels.
As you map your course through 2021, ask yourself the following questions:
Determine if your current team is equipped to support your business goals. Based on changes in market priorities, or company operational shifts, you may require different skills. If a majority of your business is now being conducted via an e-commerce website, it may make sense to bring on someone to monitor website functionality, design product pages, and make sure your site is optimized for search. Or, if you added a new product line, you may need help managing inventory and ordering materials.
Valued former employees may be trained or upskilled to support your current — and future — needs. If they have some of the skills and knowledge you require, or could be effectively retrained, it may make sense to bring these team members back. These former employees are familiar with your organization’s policies and procedures, which will shorten the on-boarding process. In a recent Paychex® survey, 84% of HR professionals said that upskilling underqualified workers benefits their organizations.
Research from McKinsey® reports that companies with ethnically and culturally diverse teams were 33% more likely to outperform the competition on profitability. Expand the resources you turn to for candidates. Using “blind hiring” practices, whereby personal information (that could influence or bias a hiring decision) is blocked out, may help. The U.S. Equal Employment Opportunity Commission (EEOC) offers advice for fair recruiting, hiring, and promoting practices.
Even if your existing team meets company needs right now, consider what skills your growth plan requires in the future. Hiring will be competitive this year and it may take more time to find top talent. For any potential hire, consider what you need to do now, to afford and sustain them when you do need to bring them on.
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Disclaimer: The information contained herein is for informational purposes only as a service to the public and is not legal advice or a substitute for legal counsel. You should do your own research and/or contact your own legal or tax advisor for assistance with questions you may have on the information contained herein.