Recruiting will become more difficult due to the reduction of qualified applicants.
With less people applying, finding that next person will take longer than it did previously. Recruiters will have to explore different options to discover their applicants such as job boards and employment agencies, and they may have to reduce their qualification demands for their next role.
Employee retention will require more efforts and attention from employers.
Employees leaving an organization will hurt even more than it did before. The positions will be harder and harder to fill, especially for higher-level positions. Organizations must focus more on ensuring that their employees are satisfied and fulfilled in their roles. Retention efforts as a result will require more attention.
The cost of hiring will need to be reduced.
Because there will be less qualified applicants available, more recruitment efforts may need to be made in order to fill that next position. This will result in more money spent on advertising or job agencies, time spent on pre-screening and interviewing, and so forth. Organizations will have to be efficient and effective with their recruitment in order to keep these costs down.
More employers will seek out the help of temp agencies to cut down on recruitment time and costs.
With the expertise and infrastructure of a temporary job agency, organizations will see that their best option may be to get the help of this third party for their recruitment needs. Not only will it reduce their costs, it will also free up their own time so that they can focus on other tasks.