5 solutions to seize opportunities from labor shortages

Labor market tightness? “Get used to it!”, was the strong statement from labor market specialist Aad van der Werf, during the seminar Labor Market Trends 2024 - 2028 by Werf&. The tightness is here to stay, so act accordingly, think about how you can attract the right talent. Here are 5 options to do that.

1. Retention is the new gold

In times of labor market tightness, retaining employees is extremely important. Organizations must make great efforts to bring in good staff, so it is all the more important to retain that staff. A solution Van der Werf sees is 'Onboarding 2.0'. Onboarding often currently takes place in the first few weeks someone is employed by an organization. But when it is used throughout the entire career, workers will truly continue to feel part of the organization. And that encourages people to want to stay with the organization. Digital environments such as a client portal or personnel portal make it possible to stay in contact with your employees in a scalable way. A digital environment where the content adapts to the employee, can enrich their profile, and manage their wishes and development.

2. 'Frustrated actives' to work

Another great opportunity, according to Van der Werf, lies in the untapped labor potential. It turns out that 80% of the untapped potential are 'frustrated actives': people who are looking for a job but cannot find one (source: Untapped Workforce Potential Research Drechtsteden). This is an interesting group. For example, nearly 300,000 people indicate that a study or training is the reason they are not working. Organizations can engage this group by better understanding their needs and talents, and responding to them. What can we do to get them back to work? Invest in an accessible system where untapped personnel are helped towards suitable work. A platform could provide a solution here by enabling onboarding at everyone's own pace and matching based on profile data (skills) to a suitable job.

3. Talent has control

The entry of Gen Z into the labor market also accelerates several trends. A large part of this group takes control themselves, has high expectations of how work should fit into their lives, and on average does not stay long at one company. Organizations should therefore aim to engage these candidates by offering them the flexibility they seek. For instance, there is more demand for channels where the candidate has control. Here, platforms like YoungOnes set the standard for the market. Here, assignments adapt to the freelancer's wishes, who determines when, where, and for whom, and at what rate they will work.

4. Reversed mentoring

The next trend relates to the speed of the technological and digital transformation. You see more and more 'reversed mentoring' where older generations are helped by younger generations due to rapid changes. Organizations can use this to become more productive by optimally utilizing all the knowledge within the organization. However, it is important to properly support and guide 'reversed mentoring'. For example, you can have special buddy programs or e-learning modules that you can also plug into your onboarding 2.0.

5. Company culture

The last trend that has accelerated tremendously recently is about the need for talents for a purpose at work. The culture of a company plays a big role in this. A company culture that matches a worker's purpose will create a sense of belonging. Therefore, it is wise as an organization to explicitly communicate this publically.

Seize your opportunities

At the end of the seminar, the question arises of when the talent will behave normally again. “Well,” responds Eveliese Luiting, co-founder of People Masterminds, “they already do, because this is normal.” They are not going to change, so it's time for organizations to change themselves. Seize your opportunities, because there are plenty of them. Platforms offer possibilities for all these five solutions. Together we can turn this crisis into opportunities!