Could a Labor Market Maker Close the Talent Gap?

Here is yet another article addressing the talent gap – this one from the Harvard Business Review, by staffing company Manpower.

The article calls out what we’ve been proposing for years: that “there is no mechanism that reliably signals which skills employers need so that individuals and schools can develop those skills.”

What will be the consequences of not mending this gap?  Besides the obvious fact that workers won’t get jobs, and companies will have a harder time filling positions, the U.S. will become less and less competitive.

If creating communication between educators, workers, and companies is the solution, how can we actually make that happen?  In the article, Manpower proposes the creation of a Labor Market Maker, whose sole purpose is to manage supply and demand by identifying needs and conveying that information to individuals.

The Labor Market Maker wouldn’t simply communicate supply and demand. They’d do so with consideration of the new trend in working – where projects have a duration, workers don’t stay in one position for long, and workers and companies alike require more flexibility.  So the Labor Market Maker would look at, for example, ways to make it easy for workers to carry benefits from job to job.  In essence, we’d be acknowledging and addressing what is now an obvious trend, in order to make it actually work for companies and workers.  The trend of companies selecting the right talent from a pool of workers is here to stay.  Staffing companies will play a larger and larger role, not only in mending the talent gap, but also in this new way of working.

About TRC Staffing Services, Inc.

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