Prior to the pandemic, it wasn’t exactly a walk in the park to forecast staffing needs, but since the pandemic, it’s become increasingly difficult to predict hiring demands. The 2021 job market was not as volatile as the market in 2020- but there was still a lot of change. As we venture further into 2022, we’re looking at several potentially significant unknowns that are making things even more difficult. This first one relates to the behavior of consumers.

According to The Wall Street Journal, consumers responded to hardships by re-prioritizing what matters. More people are switching up their brand loyalty, and millions of employees are joining the Great Resignation. Therefore, many companies are experiencing labor shortages and many others have discovered they don’t have as many fans.

Even if a company has held on to their people, they may still have experienced a significant upheaval because employees in all industries have voiced their opinions and used their feet to indicate their desire to work remotely- at least some of the time.

Many companies have responded by attempting to create and maintain a successful hybrid work model that reduces worker turnover and fosters productivity. In the coming year, global hiring trends are likely to become less predictable. So, what can be done?

In this article, we’ll explain 4 ways that companies can forecast their hiring needs.

4 Ways to Forecast Hiring Needs

There are 4 ways that companies can forecast their hiring needs and keep their workers from joining the Great Resignation.

Don’t ignore staffing fluidity

At the moment, may workers are not willing to commit to a full-time position, but they are eager to use their skills. Instead of trying to force workers to commit to a full-time position, offer non-traditional and part-time options.

You will not be the first or only business that has adapted this way. There are many companies across all industries that are creating a hybrid work environment, allowing flexible work schedules so workers can better balance their professional and personal time. Ultimately, it’s a lot cheaper to keep your current workers by creating a path where they can grow, even if it’s not a traditional, full-time path.

Shift to an on-demand model

There are many advantages of shifting to an on-demand model over a traditional model, especially in today’s market. An on-demand model improves workforce planning because you can budget for assignments or projects and for selling spikes or dips. Plus, your on-demand workers may be excited to try a variety of different roles.

If you’re new to the world of on-demand work, you may want to consider hiring talent from a staffing agency or online work portal. If you feel like you may need your own force of on-demand talent, build your own pool.

Restructure your protocol for attendance

One of the major complaints that adult workers have about their employers is that they are treated like children. Employees want to be valued by their output instead of how many hours they are working. In fact, according to a Gallup poll, 1/3 of respondents said their ability to maintain control of their time played a major role in the job they accepted.

While it’s true that you do want to make sure that things are handled properly, a good employee should never be penalized for not being able to work a full shift. You must be more open-minded when it comes to absences, as well as be flexible when it comes to shifts. Think about some ways that you can make sure things are taken care of without the risk of losing your best employees.

Analyze your wages

Some industries have enacted pay rate increases due to heavy competition and rising inflation. Take some time to evaluate the salaries within your company to make sure that those who are looking for a job feel that your company is a desirable place to work.

Start by looking at some of the latest wage statistics to get an idea of where you should be with your salaries. Don’t be shocked if the market expects them to be higher. According to a Deloitte survey, CFOs plan to increase salaries in 2022 by 5.2%. Don’t sit back and be the last company in your industry to make adjustments to your pay.

Conclusion

Unfortunately, there’s no way to predict hiring trends and needs for the future- but by considering recent consumer habits, you can create a staffing roadmap for the imminent future. Contact Rustwood Capital if you need help with adjusting wages or any other step in forecasting your staffing needs.