The COVID-19 pandemic upended life as we know it from multiple aspects. And though much of our lives have returned to “normal,” there are still plenty of ramifications that are being felt today, especially by businesses.

When the pandemic hit, many businesses were forced to shut down in-person operations, and all experienced some sort of major disruption when it came to their workforce. Those businesses that were fortunate enough to survive the pandemic-era restrictions now are facing another crisis — an ongoing labor shortage that’s stretching them thin.

In fact, some businesses worked hard to make it out to the other end of the pandemic, only to be done in by a lack of qualified labor.

With major labor shortages happening across most industries and all across the world, how are businesses to find and retain the qualified talent they need to survive?

Here are some strategies for navigating labor shortages.

Increase Pay

An obvious strategy to attract and retain top talent is to offer more money for positions than your competitors do for equivalent jobs. If the average rate for an entry-level job in your industry in your region is $17 per hour, offer $20 per hour.

That $3 per-hour difference might not seem like a lot on the surface, but it could make a big difference to the employees who are searching for those jobs.

Thirty years ago, this strategy alone may have sufficed in helping your business navigate labor shortages. Today, though, employees desire much more than just money from a job. Sure, they expect their salary to be competitive, but it’s often not their top job requirement.

This means that increasing wages is a good place to start, but it’s not the place to end.

Be Flexible with Schedules

One thing that an increasing number of employees desire today is a flexible work schedule. Many don’t want to be tied down to an office from 9 am. to 5 p.m. everyday because it simply doesn’t work for their schedule.

In fact, many people don’t want to be tied down to a specific office at all.

During the pandemic, many businesses were forced to accept remote work arrangements and to allow for employees to handle their outside-of-work life during typical work hours.

Now, many employees want that arrangement to continue. Businesses that offer flexible work schedules — whether that’s offering remote and/or hybrid work arrangements, or a choice in when the work can be done — often set themselves apart from the competition for prospective employees.

Offer Comprehensive Benefits

Employees have always desired traditional benefits, such as employer-sponsored health insurance plans, paid time off and retirement plans. During labor shortages, it’s often not enough to just offer these benefits.

If you want to stand out from other companies that are looking to attract a limited number of top talent, you need to be creative and offer a comprehensive benefits package. In addition to the features outlined above, this could include memberships to gyms and spas, mental health resources, unlimited PTO, company-paid-for meals and more.

The package can also include other creative perks, such as discounts to local businesses that you partner with, employee referral programs, internal rewards and recognition programs and so much more.

Create a Fun, Inclusive Environment

Businesses that wish to be successful today have to find a way to consistently keep their employees engaged. They need to ensure their employees are excited about coming to work and are passionate about the work they do.

There are many ways to do this, but it all starts with creating a fun, inclusive work environment that’s employee-centric.

Your company culture should be one in which employees feel that they’re valued, recognized, heard and seen. It should be one that is inclusive of everyone, no matter where they come from, what they look like and what they believe in.

It should prioritize a work environment that’s positive and supportive. And it’s one in which all leaders at the company are truly interested in who their employees are, that they’re happy both inside and outside of the office, and that they feel as though they make positive contributions to the organization.

This can be hard to communicate through an online job posting, but if your company creates and maintains a robust online presence — through a well-designed website and social media accounts — prospective employees will be able to see what it might be like to work in your fun and inclusive workplace.

Navigate Labor Shortages with Beckham Insurance Group’s Help

It’s never easy to deal with labor shortages. No matter what industry you’re in, it’s always best when you have a plethora of candidates to choose from.

When that’s not the case, as it isn’t today, businesses must work hard to attract and retain the top talent that they need to not just survive but thrive.

At Beckham Insurance Group, we can help your business navigate labor shortages by creating a comprehensive benefits package that any prospective employee will love. These packages can help you stand out from your competition, which gives you a leg up with the employees you want to attract.

If your business is located in the Georgia or South Carolina region, contact us today to learn more about how we can help you.