Ask any employer with a vacancy to fill, and they will likely echo the same sentiment; this is one of the tightest labor markets in recent years. The hunt for talent is very real , a fact supported by the Bureau of Labor Statistics. As of March of 2022, for every 1 job opening, there are 0.5 Jobseekers.
Whether it’s the baby boomers who can afford to retire, or those who have decided to stay home to take care of loved ones, the labor pool appears to be shrinking. The unemployment rate in Florida is at 2.7% as of the latest data available in August 2022. It is the same as the February 2020 unemployment rate prior to the pandemic, and may be as low as it may get according to some economists.
However, only those actively looking for work are included in the unemployment rate. Thousands more on the sidelines may not be included in that number and could represent a relatively untapped pool of talent. Who makes up this talent pool? Some say that the invisible pool of talent consists of seniors re-entering the labor market due to rising inflation, recent graduates, justice involved individuals and those with disabilities. This overlooked labor supply may just be the key employers need to combat the struggle to find and hire talent.
Persons with disabilities
Many times, individuals with high functioning autism are hesitant about the process of interviewing. However the high level of focus characteristic of some can contribute to success in certain highly detailed occupations and works in the favor of an employer.
Mesha Hill, an Evaluation Assistant and Peer Mentor Coordinator with The Grow Group, says that in her line of work, she sees a lot of people diagnosed with ADHD and high functioning autism. “The client may not be able to do three things at once or multi-task, ” she says, “but the one task that you can give them which requires a great deal of concentration and focus is something that they would be able to do excellently and it is uniquely related to the condition that they have and what is perceived as a challenge to others.”
According to the Florida Scorecard Research Project, the Us Department of Labor, Diverse Perspectives Report states:”Hiring people with disabilities can positively impact a business’s bottom line. Recruiting and retaining workers with disabilities is one strategy to counter the effects of the aging and shrinking workforce. This untapped labor pool can offer a source of skilled employees and can contribute to increasing retention and reducing turnover. In addition, tax incentives and technical assistance can assist with accommodations, which are often relatively easy and inexpensive to implement. “
Seniors
With rising inflation, many Seniors are re-entering the labor market and choosing to supplement their incomes through part-time or even full-time employment. Oftentimes these individuals bring a wealth of experience, emotional intelligence and integrity to an employer looking to hire. Many times older workers take fewer days off, don’t participate in office politics and are more engaged according to data from Towers Watson research on the AARP website. In addition, those over the age of 55 generally bring wisdom and expertise that younger workers simply don’t have. Older workers value stability and won’t jump ship to make a few dollars more. These are reasons enough to take a good hard look at how much older workers can add to a company’s bottom line.
Justice involved
Finally, those re-entering the workforce with a blemish on their background are more than eager to show employers that they have learned from their past mistakes. Many of these individuals may have drug charges or other non-violent offenses. In addition, many re-entry programs provide training opportunities to upskill their participants to make them more marketable.
There are many great reasons to hire these job seekers. Johnny Branham, founded HOPE 4 2Day Staffing with the intention of doing just that. His staffing agency helps employers with finding temporary, seasonal and permanent staff and he isn’t afraid to shy away from giving formerly incarcerated individuals a second chance. ” I believe that there is some level of gratitude for being given the opportunity (to work) and that they will go above and beyond to express that gratitude through hard work and dedication”, says Branham.
In Florida there are financial incentives for hiring those previously in the justice system, including a tax incentive of $1200 to $9600 per new hire.
In essence, increasing the success of the Human Resources recruitment efforts may be as simple as widening the talent pool. These few hidden gems may just yield more great employees.
