If you own a small business, you’ve probably encountered challenges finding new employees. This is especially true now that most economies are recovering from the COVID-19 pandemic. This process is influenced by many things ranging from the internet and job descriptions.
Whatever the case, hiring the wrong employee is a costly mistake that can lead to plenty of losses. Find out below reasons it’s hard to find a new employee.
1. High Competition for Talent
The unemployment rate is significantly low; hence, many people can easily find a job. There is also a generational shift in terms of employment opportunities. It is estimated that about 70% of millennials will be employed come 2025.
There is also a skill shortage since many universities are not releasing many graduates to meet employment demands. All these contribute to the issue of employee shortage.
2. Presence of Internet Everywhere
The internet has made it very easy for people to work remotely. Many employers’ power has completely shifted to the employees and this gives them the option to choose.
3. Employee Freedom
Employees these days have absolute power in terms of decision making. When an employer wants to hire a person with a higher skill set, it becomes difficult to meet their demands.
4. Rise of the Gig Economy
Many people with the required skill set to thrive in the employment sector have increasingly been able to work for themselves with ease. The self-employment narrative seems to stay since people can easily work for themselves and earn a living without being employed.
5. Rise of Entrepreneurship
Many people are shunning away from being employed to start their businesses. These businesses are particularly being established through online platforms, which allow people to maximize their talents and skills. With the demand to get into entrepreneurship, it becomes very difficult for small business owners to find employees.