Recently, I had an opportunity to ask Jason some questions about the Challenges and Opportunities in Long Island's Employment market, as well as how businesses can use the market to improve their operations. Here's What Jason had to share:
What are the biggest challenges facing Long Island Employers today?
Putting aside the current economy, which is starting to change and gain momentum, the long-term challenge for local employers is plugging the talent drain of fleeting Gen X/Gen Y workers needed to replace aging baby boomers who retire and move elsewhere. This is a dynamic we have heard about, read about and had conferences on but there have been very little solutions presented. Both of these generational opposites may have trouble justifying remaining on LI if compensation is not competitive with cost of living. This region is consistently faced with the challenges involved in relocating employees to this region. LI companies need to make the investment in training and retaining their talent resources while exploring creative solutions to keep an active talent pipeline. Also, watch for the rapid increase in employees looking for virtual work options and consulting engagements rather than full-time direct employment.
Where are the biggest opportunities for those looking for employment?
Technology, Healthcare, Engineering and Sales. Digital advancements and Economic Stimulus have ignited change in Healthcare, Technology and Engineering/Construction. Long Island employers are seeking versatile professionals who have dynamic skill-sets in these industries. The need for Sales professionals has been steady for the last 8 months and now the mid-level sales management has come back.
How can businesses use the market to help them improve their talent roster?
It has been a buyer's market, although we are now seeing small changes such as competitive offers and buy-backs. This is still a very good time to take advantage of the talent marketplace and acquire talent that might otherwise not be available financially, emotionally or intellectually. However, don't bargain hunt; recognize value, take time to meet candidates, conduct exploratory interviews, bring on temporary staffing help to help with seasonal or project needs and keep talent close to your brand. Do not put your organization in the position where the market comes back, talent is scarce and you are stuck saying "we should have connected with the talent/candidates we often look for when we had the chance." Recognize that good hires can be made at every level, but be mindful not to send the wrong message to your remaining staff. Make it clear that such hires are not luxuries, but can put the company at a competitive advantage, during and after the economic recovery.