Springfield Business Journal_2019-07-29

S o, which came first, the chicken or the egg? I’ve often heard the question, but it’s never followed by any kind of satisfactory answer. Clearly, each is required for the other to exist. The same can be said about Springfield’s ongoing and worsening workforce crisis. We keep talking about it. We’ve yet to arrive at any real solution. Springfield Business Journal’s 2019 Economic Growth Survey* indicates more than half of local businesses are seeking to hire additional staff members in the coming year despite a virtually nonexistent unemployment rate and fewer than 10% of those employed are actively seeking new opportunities. We abso- lutely need an infusion of qualified workers to serve the growth of businesses already in the market and to attract new ones. At the same time, we need more higher paying jobs so that we can attract and retain a qualified workforce. So, which comes first? The pages that follow provide some fresh perspective to a tired topic. They should serve as a community conversation starter that takes a new direction. You will read about some innova- tive workspace, technology and housing solutions to serve and grow the local workforce. You will read about outsourcing and telecommuting solutions that may serve your own staffing needs. More importantly, you will be taking a step into the broader conversation that will require the voices and efforts of a multitude of community leaders to change outcomes. The Springfield Business Journal Economic Growth Survey shows we don’t have enough people for the jobs local businesses plan to add next year. Furthermore, most employees do not plan to seek new employment. So we have to change how we hire. Technology can help. For example, not only is social media effective for creating brand and culture awareness but also for recruiting the right people to fit your culture. Apps that provide flexibility to conduct interviews virtually, accommodating remote candidates, have streamlined the process of hiring. In-office interviews are important, but virtual second interviews or peer interviews allow us to take our time to find the right fit, while still being efficient. We also need to address the technology desires of our talent pool. Millennials are now the biggest percentage of the workforce. They want to BYOD (Bring Your Own Device), get access to the same information from all those devices, as well as have access to their programs 24/7. They will locate and stay in organizations that adapt to this demand. I would be remiss if I didn’t underscore that this creates a whole new vulnerability regarding confidentiality and security, but those can be professionally managed. Technology cannot locate, vet and hire your ideal employee, but it can certainly assist in your efforts to attract and retain them. by Chelsey Bode Co-owner, Pearson Kelly Technology Sponsor Letters . . . . . . . . 2, 3 Is Workforce Gap Worse Than First Thought? . . . 4, 5 What Springfield Needs to Stay Competitive 6 What’s Best for the Workforce? . . 7 Meeting the Housing Needs of the Working Poor 8, 9 Data Dive . . . . . . . . . . . 10 Telecommuting Trends 11 Outsourcing to Stay Agile . . . . 12 Thought Leader . . . . . . . . 13 Minimum Wage Breakdown 14, 15 SPONSOR LETTER Technology Provides Flexibility in Hiring Jennifer Jackson Publisher, Springfield Business Journal *Business leader sample size 669, with a +/- 3.8% margin of error and 95% confidence interval; consumer sample size: 109, with a +/- 9.4% margin of error and 95% confidence interval TABLE OF CONTENTS PUBLISHER’S NOTE Technology cannot locate, vet and hire your ideal employee, but it can certainly assist in your efforts to attract and retain them. 3 2019 ECONOMIC GROWTH SURVEY WORKFORCE / SKILLS