The June employment data indicates a cooling labor market as job openings went down by 600,000 in May compared to the previous month and unemployment rates increased to 4.1%, compared to 3.7% at the beginning of the year.
However, despite the current labor market reports, the talent pool for Mechanical, Electrical, and Manufacturing Engineers remains scarce. The manufacturing sector just added 96,000 jobs in May, and engineering unemployment decreased to 0.8%, a decrease from 1.8% last month and 1.5% last year’s monthly unemployment rate. This high demand and limited supply have created a major staffing void for many companies.
Companies that started a new fiscal year in July are now given new budgets to increase workforce headcounts, while those entering Q3s and Q4s need to hire in anticipation of renewed or ramped-up business demands. With such a little pond to fish from, what must companies do to get an advantage over other hiring competitors?
- Proactive Recruiting
Proactive recruiting is a strategy that focuses on sourcing, engaging, and attracting talents ahead of hiring demand. Unlike reactive recruiting which waits for candidates to apply, you search for the right people before you need them.
The average hiring timeline for engineering positions is 1-3 months with the slowest 10% reaching up to 82 days. Starting early allows companies to pull in available talent ahead of competitors through continuous job advertising and reaching out to passive candidates through confidential searches.
- Work with local staffing firms to recruit in the background
Leveraging a staffing firm that is well-versed in the engineering talent space gives companies access to their extensive candidate networks and industry expertise to identify and approach high-caliber engineering candidates who may not be actively seeking new opportunities. This approach opens a hidden pool of technical talent that might otherwise remain out of reach.
This strategy is particularly effective in recruiting for senior or specialized engineering positions where the ideal candidate is excelling in their current role but might be open to the right opportunity. Staffing firms can navigate this sensitive situation with tact and discretion to protect both the hiring company’s interests and the candidate’s employment.
- Hire on a contingent basis
Contingent hiring offers businesses the flexibility to adapt quickly to fluctuating workloads, seasonal demands, or specific project needs without the long-term commitment of permanent hires. By leveraging contingent workers, organizations can scale their workforce up or down as required, but also reduces the financial risks associated with over-staffing.
In addition, engaging contract-to-hire engineers mitigates hiring risks of skills or cultural mismatches by assessing an engineer’s performance and cultural fit before making permanent job offers.
In today’s unpredictable job market, being proactive is key to attracting hard-to-find engineering talent. Companies that adapt quickly and leverage flexible hiring strategies gain a significant advantage.
SoloPoint Solutions is here to support your talent search efforts. Our experienced technical recruiters possess the expertise to confidentially headhunt from competitors and maintain a vast network of skilled engineers ready to meet your company’s hiring needs. Don’t let talent shortages hinder your company’s growth and innovation. Take action now to secure the engineering expertise you need. Contact SoloPoint Solutions today: