After months of being laid off, many furloughed employees find themselves saying, “I’m not ready to come back to work because unemployment is too good.” Four months ago this would be a shocking statement to hear, but the extra $600 supplement from the CARES Act is a great added benefit for many.
68% of Americans who’ve been furloughed or laid-off since March find themselves saying to friends, family, and coworkers that they would rather opt to sit on the sidelines than go back to work, and it’s causing fear and anxiety for employers across the states.
The expanded unemployment benefits seem to be a comfortable lifeline for the 39 million Americans who’ve filed for unemployment benefits since the Coronavirus pandemic started.
States are now re-opening and relaxed social distancing guidelines are in place. The government, and employers like you, are counting on employees to return to work to bring business back to normal. What happens when they opt out of working?
The negative impact and cost of unemployment on your business
The high unemployment rate is causing negative effects on businesses as operations resume and workers refuse to come back to work. Here are three negative effects it could potentially have on your company.
- You will face an unexpected amount of open positions
- Lack of workers equals lack of productivity
- You will scramble to fill positions – which can cost time, money, and increase employee turnover
Having a plan in place gets you this
Companies are looking for solutions to say afloat post COVID-19 and we’re here to give them to you. Partnering with a staffing agency can be a valuable resource, especially considering an economic crisis. With a staffing agency at your disposal you can:
Boost your operations and productivity:
When you’re faced with a large number of open positions it will cause your existing workforce to work overtime to pick up the slack. This often leads to poor job performance and productivity issues. Working with a smart staffing agency will allow you to fill positions faster, with fewer disruptions in your operations and workflow.
Accelerate your hiring process:
High unemployment numbers mean high applicant volume. Weeding through the pile of resumes you receive to find the qualified ones, and those truly interested in your position keeps hiring managers from performing revenue-generating activities. Partnering with a staffing agency will allow your managers to focus on projects and tasks that will help keep the business operating smoothly.
Access candidates of value:
With work starting to pile up, you need to hire employees that are flexible, dependable, and ready to work… fast. Staffing companies are equipped with candidates who often turn to staffing companies during difficult economic times. Recruiters know their candidates well and can quickly screen out those who would not fit your company. They also allow you to hire someone as a temp worker first to see the fit for yourself while building a relationship with someone who could become a valuable permanent employee in the future.
Decrease turnover costs:
Hiring and onboarding are costly and time-consuming, but when a staffing agency with a successful track record steps in to help you place loyal candidates in your open roles the first time around, it increases retention rates and decreases turnover costs.
Save time and money in the long run:
Right now your HR team is spending a lot of time determining what needs to change as things begin to reopen, but HR budgets are often the first to get cut. When you turn to a staffing agency for your HR needs it can save you money by reducing the space you need for in-house staff while also reducing contributions to retirement plans, health-care insurance premiums, and other benefits.
With the whole world dealing with the uncertainty of the pandemic, we can be the certainty that you need. Now is the time to turn to workforce experts. With unemployment most likely getting extended we’re the resource you can turn to. Let us walk you through a plan or help you review and revise your strategy.
It’s clear that working with the right staffing agency can help smooth your operations, decrease turnover and HR costs, and help avoid inefficiencies in hiring. All of which are extremely valuable right now for your business, as you work through this economic crisis.
As states begin to reopen, let’s schedule a meeting to discuss your plan to prevent a talent shortage in your business. Wherever you’re looking to improve, a well-designed staffing agency, like us, can deliver.