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Inside the Numbers Game by Andrew Perry We all know the labor market is tight--that fact, in some shape or form, crosses our desks in memos and letters, resumés and resignations, newsletters and news clippings, each and every day. But just how tight is it? As of January, the national unemployment rate was at 4.0 percent, which is the lowest it's been since 1970. According to the Council of Economic Advisers and the Department of Labor, which issued a joint report on employment recently, this low point means that a larger percentage of the American population is employed than at any previous time since 1970. Are you sleepy yet? Numbers and percentages can be dull and boring. As well, numbers are only numbers--and they don't add up to the same thing as being able to attract, hire, and retain the best and brightest. But it is exactly this current numbers crunch which is leading some companies to try some extreme recruiting tactics: Mirronex Technologies, an e-commerce firm in Princeton, this year offered high-level programmers and security experts a BMW Z-3 as part of a signing package. And they're not the only ones throwing huge incentives around. The Harris Group, a staffing agency based in Chicago, has lined up to pay 160 $100,000 signing and retention bonuses (not to paid all at once, granted, but still) at one firm alone for a web guru recruiting drive. Well, what are you to do if you don't have sportscars and six-figure signing bonuses in this year's budget? You still have to get out there and recruit with the best of them. In a slightly more down-to-earth effort, Lord & Taylor sent out solicitations for part-time staffing needs with its charge-card statements last Christmas. This program yielded far higher responses than their point-of-purchase Help Wanted signs. This sort of tactic could be incorporated in any of the regular direct billing and advertising cycles in your company. Looking for a little more flash, but you're still not sure about the BMW? Rather than post a Help Wanted ad in the newspaper last fall, a United Parcel Service facility in Chicago turned to more innovative recruiting means to find seasonal package handlers. UPS sponsored and hosted a rock concert featuring the Fabulous Janes. So what were the results? Two hundred new people were hired. Now, you don't necessarily have to host a rock concert in your local community, but you should be aware event sponsorship possibilities in and around where you work and live. Everybody can tick off unemployment numbers and percentages. Not everybody can find enough new hires using the same old ideas and tactics. Look for ways to make your needs and positions stand out from your competition. Andrew Perry, MFA is a former Managing Editor of The Workforce Stability Alert. |
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