Ideas to Counter a Thinning Workforce
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Connecting state and local government leaders
A new report from a labor market data company offers some recommendations as retirements and other factors lead to employee shortages.
The labor participation rate and size of the nation’s prime-age workforce is shrinking, driven by factors like declining birth rates, retiring baby boomers, and accruing wealth leading some people to head for the workplace exits, a new report notes.
Emsi, a company that describes its mission as connecting jobseekers, educators and employers, says the last two years have accelerated these trends and introduced new factors that are leading people out of the workforce. The latest issues include: A lack of available and affordable child care, an influx in personal savings, virus safety concerns and vaccine mandates, the report says.
With this in mind, Emsi recommends steps leaders can take to counteract these trends and build stronger workforces:
Identify How Your Region Is Affected
To better serve your community, identify specific demographic trends in your area and how those trends can affect specific industries and occupations, the report says. For example, a different report by Emsi found 60% of public finance employees in the U.S. are over the age of 45 and 31% over age 55. And upcoming retirements in the profession are expected to outpace those of similar private-sector positions. So, if your region is home to federal and state agency offices, or a county seat in a rural area, this might be an area to watch, the report says.
Find Unique Talent
When engaging your workforce, start with those that have historically been overlooked, also known as “hidden workers,” Emsi says. According to a report by Accenture from last year, some ways public service agencies can access hidden workers are:
- Rethinking how to set automated filters for candidates
- Refreshing job descriptions to focus on skills
- Adopting a “user experience” mindset for recruitment
- Undertaking more targeted outreach
- Fostering a culture that supports traditionally overlooked talent
Get Everyone in Alignment
Colleges and universities, workforce boards, skills boot camps and employers are all focused on different aspects of today’s workforce challenges, the report notes. But economic development agencies can help with coordination and making sure “all stages of the talent pipeline are connected and flowing smoothly.” In doing so, they can help create clearer paths for graduates to local jobs.
“If students leave your region upon graduation, that loss is going to be felt even more so as the labor shortage grows,” the report says. “But if those graduates see a clear path to a job in their local community, you’re ahead of the game.”
Get Involved
The report also recommends that community leaders look to partner with local workforce boards to create panels of displaced workers who are willing to share their experience and explain why they’re reluctant to return to work. This can allow businesses, local elected officials and educators to learn things they cannot not glean from data alone.
For more information from the Emsi report click here.
Andre Claudio is an assistant editor at Route Fifty.
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