The historically high worker shortfall is creating unprecedented challenges for companies. To effectively find the talent you need, it’s important to first understand the social factors creating the labor shortage and, from there, adopt a nuanced approach to recruitment that reflects what prospects really want from a job.
According to September 2021 data from the Bureau of Labor Statistics (BLS), American businesses were struggling to fill 10.9 million vacant positions in July—a record high. They are also struggling to keep the talent they have. The 2021 PwC US Pulse Survey found that 88% of executives are experiencing higher turnover than usual, and 65% of employees surveyed are looking for a new job.
