According to a recent report by Paychex/IHS Markit, Dallas leads the nation in Small Business job growth and Dallas remains in the top ranking for Fastest Growing Metro Areas. This is in addition to new jobs created by Toyota, Facebook and Amazon.
So how does the acceleration of professional hiring in DFW impact organizations?
Most obviously it means that key people are receiving frequent calls from recruiters seeking to lure them away. This uptick in the market is also driving up salaries. Lastly, there is more intense competition for new talent.
Here are 3 recommendations to reduce risk associated with this frothy job market. Spoiler Alert: None of these are “Silver Bullets” but are at least good starting points.
Keep Your Keepers in the Know
Know who your “keepers” are and communicate with them. They need to understand the vision and how they are part of the plan.
Get with your HR Leader and discuss salary deficiencies. Possibly enact incentive plans built around reaching specific objectives (this drives engagement and makes folks less likely to respond prospecting headhunters).
Talk with a trusted in advisor in the talent acquisition space ask him or her to identify vulnerabilities. Ask for specific insights not just about the market but about the specific skill sets your organization needs to thrive.
These type of markets create opportunities for smart folks to beat the competition by rewarding producers, reducing attrition and building cultures that produce results.
Find out how to mitigate the risk of this robust job market. Contact me, Rob McIntosh, at ☎ 214-521-2900, or email Rob@mcintoshsearch.com to learn about retention strategies that are specific to your organization and ideas on how to win the battle for talent in DFW.
Rob McIntosh, founder of McIntosh Search, a SDVOSB leading talent acquisition firm serving the DFW area, helping Technology Leaders build strong IT Teams.