Tag Archives: employees

Why is Hiring Hard Right Now?

Posted on June 3, 2021 by admin

Prior to the pandemic, the U.S. was in an employment boom recording unemployment rates of 3.5% in February 2020. However, due to COVID-19, by April the unemployment rate was recorded at 14.7%, just three short months later. This proved to be the highest unemployment rate since the recession in 1948. Now, over a year later, employers are facing a new set of issues: finding interested candidates.

Earlier this year, job listings increased by roughly 8% but hiring only increased by 4%. Many employers are asking themselves, why? After everything that has happened over the last year, wouldn’t people be eager to get back to work? Unfortunately, the answer may not be what employers are hoping for. 

People Aren’t Ready To Return 

The newest struggle studies have found is that many people simply aren’t ready to return to the workforce. With unemployment being so high, it was no surprise that the government had to take action. Stimulus payments were released and benefits packages were increased. Many people found that despite the accompanying pay cuts, they could easily get by on government assistance alone. Taking this route offered many the flexibility to take their time returning to work. Additionally, a lot of people have admitted that they are unsure if they will return to the same industry. 

Because of this, employers are facing unique challenges they haven’t encountered before. This creates the need to come up with new hiring solutions for finding their next great employee. 

Hiring Solutions

With the changes brought about by the pandemic, hiring strategies have been evolving. Here are some tips for helping you find your next hire.

  1. Be Flexible in Your Standards

We understand that hiring is a process. You take value in the community you have created, and it’s easy to see the type of employee who would be the right fit. But, people are beginning to branch out and search for new career paths. Maybe your candidates don’t possess the experience you’re looking for, but finding employees who are willing to learn will go a long way. Investing your time in teaching an employee who is eager to learn will be respected and valued in a way that you wouldn’t see with your “ideal candidate.”

  1. Creative Hiring Networks

In this digital era, the “usual” job searching platforms may not be enough. Don’t be afraid to search for alternative sources, as there are many out there. Consider offering referral programs for residents, post in Facebook groups, or scout LinkedIn. And, of course, utilizing services offered by employment agencies may also be a great solution for finding the right match!

When posting a job, remember to highlight your company’s benefits and unique traits. Showing that you’re a company that cares will help you stand out and encourage people to return to work. 

  1. Evaluate Your Offer Packages

The multifamily industry is seeing a lot of issues when hiring for entry-level positions. More and more, today’s youth have been straying from trade industries, taking positions that require less training instead. An entry-level maintenance position pays an average of $14.00 per hour in the greater Austin area. On the flip side, McDonald’s has increased their pay to a national average of $11.00-$13.00 per hour with potential growth opportunities to follow. 

With the pressure that society has placed on earning a degree, many are choosing to work easier jobs while they focus on school. Society has also downplayed the opportunities available by working a solid trade-based business. Showing the value that your company holds for these positions can help take your team to the next level. 

Conclusion

Hiring in today’s world is tough, but it can be accomplished. Take a hard look at your offerings, as well as any changes your company can implement. People are looking for security, so make sure to show them how working with you will give them exactly that. The good news is, experts predict that a hiring increase will return over the next year or so. Remain patient and diligent in your efforts and it will pay off in the long run. 

Hire Priority can assist you in your efforts, connecting you with professionals who are looking for work. All of our potential candidates are pre-screened in order to connect them with the right fit. Contact us today to see how we can help with your hiring needs.

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Being Understaffed Could Be Costing You Money

Posted on May 4, 2021 by admin

Since the start of the pandemic, the workforce has changed drastically. Layoffs have become “the norm,” and furlough is now a term that everyone is familiar with. Difficult decisions were made, and cutting back on payroll costs was an obvious solution. But even as the workforce returns, things are not the same way they were before. Texas’s unemployment rate is still nearly double what it was pre-pandemic.

While your business may not be operating as it once was, it is important to analyze the effects of those tough decisions. What can you do to ensure the health of your business? While layoffs may have helped you through these difficult times, being understaffed is very likely costing you money. 

The Hidden Costs of Being Understaffed

It is a well-known fact that having too many employees directly affects profitability. On the flip side, having too few may be even more damaging to your company. Keeping payroll costs down is often one of the main reasons for keeping a small staff. But oftentimes companies don’t see how these decisions are hurting them in the long run. Let’s talk about some of the hidden costs that come from being understaffed that you may not have thought of.

Employee Stress

Studies have shown that stress has a direct effect on the health of individuals. Changes such as staff reduction or increase in business will add to the workload of your employees, plain and simple. When an employee’s workload increases, productivity, and attendance are both affected. Frequent absenteeism can ultimately hurt the day-to-day operations of any business, no matter the cause. 

High Turnover

Hiring an employee is a long-term investment. Having experienced employees who are able to keep your company running with little oversight, is worth the time and money. Offering overtime to existing employees is a great solution when you need extra help. Unfortunately, this short-term solution loses its appeal when an employee is overworked.

Hiring someone for an entry-level position costs an estimated 30-50% of a traditional annual salary. Replacing higher-level management is estimated to cost close to 400%. When you look at overtime costs and potential burnout, it’s worth it in the long run to hire extra help. By investing in long-term employee satisfaction, you can avoid paying increased payroll costs in the future.

Quality

The multifamily industry in particular values quality of service above many other industries. Customer satisfaction is a must for avoiding high rental turnover. Just as employee turnover is costly, having too many vacancies is a loss you can’t afford. When your team is overworked, the focus shifts to getting the work done rather than doing it well. Scheduled appointments get missed, jobs are rushed, and the quality of living for your residents can decrease. Quality is important for both office and maintenance staff, and it’s vital to your success.

Tips for Cutting Costs

The pandemic hit companies hard, and not everyone is in the clear yet. We understand this. Don’t risk the costs that go hand in hand with being understaffed. Here are some strategies for cutting other operating costs within your multifamily buildings:

Become Water Efficient

The water bill is one of the most costly utilities within multifamily communities. Making some updates can significantly cut these costs in the long run. Is maintaining a healthy landscape something you deal with? Try swapping out your current greenery with more water-friendly options. If it’s been years since you’ve updated your plumbing, look into high-efficiency fixtures. Analyzing your bill and looking into more cost-effective options will save you a lot of money in the long run. 

Going Green

Going green doesn’t only apply to office supplies and recycling. Making some simple updates can make a huge difference on your utility bills. If you’re still using regular light bulbs, try updating to more efficient LED bulbs. You can also use energy-efficient appliances, and look into other clean energy-producing products. Additionally, going green is not only good for the environment, but it will help your brand as well.

Preventative Maintenance

Keeping up with regular maintenance is a major money-saver when compared to costly repairs. Create a maintenance checklist and stick to it. This can include HVAC filter replacement, patching cracks in drywall, and flushing water heaters. Preventing costly repairs isn’t the only benefit of regular preventative maintenance. It will also ensure that your building is functioning at its prime, resulting in residents who are happy in their homes.

Conclusion

As we move further out of the unimaginable, it allows us an opportunity to focus again on the big picture. If there is any lesson that we can learn from this, it is to be prepared for anything. There are steps you can take to ensure your operations are geared towards sustainability and endurance. Keeping a happy and efficient staff is key. They are your team, and they will help carry you just as you help carry them.  

Worried your community may be understaffed? Hire Priority is here to help. As specialists in the multifamily industry, we have helped hundreds of central Texas properties with their staffing needs. With our prescreening and training options for candidates, we can help you build the long-lasting team you’re looking for.

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