The Talent Shortage Myth and Non-Traditional Recruiting Methods.pdf

The talent shortage myth is preventing access to overlooked, talented, passionate individuals. This presentation deck offers quick, actionable insights for finding this talent pool, enhancing workforce development, and building a skilled team. Each slide provides a concise tip or strategy that can be reviewed in just 5 minutes, making it perfect for busy professionals.

1. Challenging the notion of a widespread skills gap and
exploring new paradigms for talent management.
THE TALENT
SHORTAGE MYTH
Emma Bush, Ed.D.

2. Workforce Insights in 5
Minutes
SPEEDY SOLUTIONS SERIES | THE TALENT SHORTAGE MYTH

3. “There is no skills shortage, but
a shortage of employers
willing to invest in training
and pay a living wage.”

4. The talent shortage myth is a widespread belief in the
corporate world.
Many companies struggle to find skilled workers, leading them
to believe in a talent shortage.
This presentation aims to dispel this myth and provide a
fresh perspective.
Through data- driven insights and real-world examples, we'll challenge the
conventional wisdom on talent shortage.
Recognizing the true nature of the talent landscape can help organizations
make informed decisions and workforce strategies.
Introduction

5. While there’s talk of a lack of skilled workers, the reality is that
there are plenty of talented individuals out there who simply
need the right training and development. This gap highlights
the urgency to rethink how we approach talent acquisition.
This presentation will briefly explore how targeted training and
development can unlock the potential of the existing talent
pool, transforming it into a skilled workforce ready to meet
today’s demands.
*Source: U.S. Chamber of Commerce
1.7 Million
Americans missing from the
workforce since February 2020*
The notion of a "talent shortage" is a
myth!

6. Industries Facing High Job Vacancies
Manufacturing
Skilled trades in durable
goods and assembly line
positions in nondurable
goods.
Information Technology
Software development,
cybersecurity, and IT
support roles.
Distribution Logistics
Roles in distribution centers, transportation, warehouses, and
logistics operations.
Education
K-12 teachers, higher
education faculty, and
support staff.
Healthcare
High demand for nurses, medical technicians, and other healthcare
professionals.
Construction
Encompasses skilled
trades like carpenters,
electricians, and
plumbers.
These industries are currently experiencing significant labor shortages, highlighting the need
for effective recruitment and workforce development strategies.

7. Job Boards: Posting on platforms like Indeed, LinkedIn
Campus Recruiting: Partnering with universities and colleges
Recruitment Agencies: Utilizing staffing firms for talent acquisition
Job Fairs: Attending and hosting career fair
Employee Referral Program: Tap into existing networks
Social Media: For outreach with a broader reach
Traditional recruitment methods often fail to expand the talent pool
sufficiently. These approaches may overlook diverse candidates and
untapped talent, leading to a limited and homogenous selection of potential
hires. Traditional methods include:
Limitations Of Traditional
Recruitment

8. Apprenticeships/Pre-Apprenticeships:
Community Outreach: Engaging with community
organizations to find untapped talent.
Returnship Programs: Creating opportunities for
professionals returning to the workforce after a career
break.
Military Transition Programs: Recruiting veterans
and transitioning military personnel.
Hiring Bootcamps: Partnering with career prep
bootcamps and technical schools for new graduates.
Dislocated Worker Talent Pools: Targeting and
retraining workers displaced from declining industries
to fill new roles.
Expanding Talent With
Non-traditional Methods
These approaches help identify and attract diverse and often
overlooked candidates, thereby enhancing the quality and
breadth of potential hires.

9. Upskilling and Reskilling
Training Programs: Offering ongoing training
and professional development
Certification Programs: Encouraging
employees to earn industry-recognized
certifications
Mentorship: Establishing mentorship programs
to transfer knowledge and skills
Internal Mobility: Promoting from within to retain
and grow talent
An organization's most valuable resource is people. Consider
these approaches.

10. Tap Into Partnerships And Collaborations
Educational Institutions: Partnering with
universities, K-12 schools, community colleges for
talent pipelines
Industry Associations: Collaborating with industry
groups for shared training initiatives
Government Programs: Leveraging government
grants and programs for workforce development
Non-Profits: Working with non-profits to access
underrepresented talent pools
These approaches help identify and attract diverse and often
overlooked candidates, thereby enhancing the quality and breadth of
potential hires.

11. Walmart
Implemented a comprehensive
training program, resulting in a 19%
increase in employee retention and
a 25% boost in customer satisfaction
scores.
IBM
Launched a cloud computing
certification program, enabling
employees to upskill and leading
to a 30% rise in cloud services
revenue.
McDonald's
Introduced a Leadership
Development Program, reducing
turnover by 25% and increasing
internal promotion rates by 40%.
Amazon
Implemented a robotics training
program, enabling warehouse
workers to operate advanced
automation systems, improving
productivity by 15%.
.
Deloitte
Launched a diversity and inclusion
training initiative, resulting in a
20% increase in diverse hires and
improved employee engagement
scores.
Airbnb
Implemented a guest experience
training program, leading to a 12%
increase in positive guest reviews
and improved host satisfaction
rates.
Training Case Studies: Industry Leaders
Leading companies have implemented innovative training programs to address skill gaps and enhance workforce capabilities.

12. Call to Action – Key Takeaways
Skilled Labor Shortage: A Myth or
Reality?
Recent studies indicate a shortage of skilled
labor across various industries, hindering
economic growth and productivity.
Non-traditional Talent Acquisition
By diversifying your recruitment methods, you
can attract a broader range of skilled
candidates and build a more robust
workforce.
Upskilling the Existing Workforce
Provide continuous professional development
opportunities for current employees to adapt
to evolving technological landscapes.
Tax Incentives and Grants
Offer incentives and grants to encourage
businesses to invest in workforce training and
skills development programs.
Promoting Apprenticeships and
Internships
Facilitate practical, on- the-job training
through apprenticeships and internships,
bridging the gap between theory and industry
needs.