Workforce planning is an extremely important part in managing costs while maintaining productivity for many manufacturers. This is especially true when seasonal trends may dictate manufacturing output. Generally, large companies seek to hire seasonal employees during their peak seasons and run a smaller operation in the off season. But what happens when the hiring pool is too shallow to meet demands?
A tightening Labor Market and a Shallower Pool
What Is the Labor Market?
The labor market, also known as the job market, refers to the supply and demand for labor in which employees provide the supply and employers the demand. It is a major component of any economy and is intricately tied in with markets for capital, goods and services. At the macroeconomic level, supply and demand are influenced by domestic and international market dynamics, as well as factors such as immigration, the age of the population and education levels. Relevant measures include unemployment, productivity, participation rates, total income and gross domestic product (GDP).
According to recent metrics, the U.S economy is booming GDP is growing faster than expected and there has been generalized growth amongst the manufacturing sector. This is great, but it also has several implications for companies seeking qualified employees to stay running.
The U.S has stepped into historic waters with a recent unemployment rate of 3.5%!
This means companies are fighting tooth and nail to find the right workers for their jobs. Companies are shelling out more money to entice the right workers, more benefits, and more vacations- all of which affects their bottom line.
In sectors that aren’t quickly growing this is also causing a problem for prospective workers. Individuals looking jobs in these sectors are finding that it is increasingly difficult to find positions that are not currently filled.
Using Staffing Agencies to Find The Right Help.
The solution to this tightening job market? Staffing agencies. Staffing agencies are organizations which match employers to employees. In Labor Works case we provide employers seeking to find workers in a pinch with short term. We take full responsibility for worker’s compensation insurance, federal and state taxes, FICA and unemployment. Your entire temporary labor payroll consists of one check to Labor Works.
By utilizing a staffing company like Labor Works you can be sure your employees arrive on time every time. We provide the temporary laborers with transportation to and from your job site to ensure that the number of temporary laborers you requested arrive on time and in an organized fashion.
Whether you need somebody for general assembly work, heavy lifting, or any of the vast numbers of industries we service, we have temporary laborers ready to work 7 days a week, 24 hours a day.