The forestry sector has recently faced some challenges that has made it more difficult for employers to find valuable talent. One opinion writer from Trail Times notes, “The industry has benefited from high lumber prices during this time of disruption, with prices pushing to the high $500 range this spring, fueled by a strong US market. But lumber prices have dropped dramatically in recent months to just above $300 as housing starts have fallen in the US, and local mills are feeling the crunch.”
Businesses can use the current slowdown to their advantage and make more strategic hires. When the price of lumber is high and the market is busy, employees are not usually looking to leave the industry. During quieter periods, lumber traders might be willing to leave less at the table and find themselves more open to moves if the business is offering a long-term situation as opposed to a short-term fix. As an employer, here’s how to approach this situation as a potential opportunity.
- Make it make sense (for your business and employees): Slowdowns are not often the best times to bring on new team members, but there’s the possibility that strategic hiring could enable your business to grow, innovate, and problem solve. Driven employees – the kind you want on your team and the kind who find the most success – are compelled by challenges. Adding a strategic hire to your team can be a true benefit to your business in riding out slowdowns and ensuring future growth.
- Communicate growth and longevity: If you’re going to make an offer that’s below what a candidate asked for or below market value for the same position, this will be good for your business, but less than ideal for your candidate. One way to entice employees to join your team if the offer is lower is to ensure that if the business grows they’ll receive a bonus or other incentives. It’s also important to remind them the market ebbs and flows and when it picks back up again, there will be growth potential within the organization.
If you’re looking to fill your talent roster or make strategic hires, contact TalentSphere Staffing Solutions today. Our industry experts can help you find what you need.