We all want to increase jobs in America, but what if that is not economically possible. What if companies can simply not afford to hire on more salaried workers? In the past companies have turned to off shoring, relocating their business process from this country to another. Well, this is no longer working. New evidence suggests that shifting production overseas has inflicted worse damage on the U.S. economy than the numbers show. Off shoring is a problem because it takes interviewing 100 candidates to find the right one, not to mention the language and culture differences that come with moving operations overseas. Currently there is an average of 40% employee turnover when companies decide to off shore; this causes serious intellectual property issues and inadequate infrastructure, not to mention the shrinking salary differentials.
So then what are American Companies to do? Not get the work done, lay off more people? NO! Why don’t we start leveraging the power of the contingent workforce we have.
According to the Bureau of Labor Statistics, there are currently 14.0 million Americans unemployed. If we can’t get those people back into the workplace our economy is going to continue to contract. The HR profession has identified that the trends have shown that the rise of the contingent workforce is making a major strategic impact on the workplace and there is a growing need to develop retention strategies for current and future workforces.
Not only are Americans unemployed but also there are a significant overlooked population segments. Retired military, displaced homemakers, older workers, welfare-to-work and the underemployed just to name a few. We need to be opening our eyes to the possibility of expanding our vision and opening the doors to new workers.
By using these different outlets we can decrease the unemployment rate, promote the American economy from within and create a flourishing workforce.
By: Emily Eastman