Labor shortages can be a major challenge for businesses, as they can lead to reduced productivity, increased costs, and difficulty in meeting customer demand. One potential solution to this problem is talent rediscovery, which involves identifying and reengaging with talented individuals who may have left the workforce or are currently underutilized.

Talent rediscovery can take many forms, depending on the needs of the business and the skills and experience of the individuals being recruited. Talent can also be recruited from a variety of pools. Here are some ways to battle the labor shortage with talent rediscovery.

Boomerang Hiring

To rediscover talent, businesses may look to hire experienced workers who have taken time off to raise children or care for elderly relatives, or who have left the workforce for other personal reasons. This is otherwise known as boomerang hiring. The process can also refer to employees who might have left your company for other reasons, but not because they were dissatisfied overall.

A word of caution here. If an employee was unhappy with the company, the likelihood is they will become dissatisfied again. But boomerang hiring can save you time, money, and effort in recruiting and help you reactivate talent that knows your company and industry already.

Of course, depending on how long they have been out of the industry, there still may be some training involved, but boomerang hiring can be a vital part of your strategy.

Hiring Retirees Looking for a Second Career

Many individuals retire but are still interested in working on a part-time or project basis to keep busy, keep their minds active, or simply stay in touch with an industry they love. This can provide employers with a great opportunity to rediscover talent and reactivate a passionate employee.

When it comes to the labor shortage, a big key is to be flexible. Maybe you will only be able to use someone for fewer hours a week than a traditional employee. Perhaps they are only interested in working on specific types of projects. But you can use the talent they have to meet your company goals, often without the need to pay for benefits or provide them with the perks you may offer other employees.

“Second career” seekers or those looking for part-time work can be a great source of talent rediscovery, and can even bring a fresh outlook to your team.

Workers Reentering the Workforce who Face Challenges

In some cases, an employee may have left the workforce due to illness, disability, or another challenge. Often these employees may need certain accommodations to return to work. However, by creating an environment that suits their needs, you often bring talent that has passion and a unique outlook into the workplace.

How do you find these employees? Reach out to work retraining and rehabilitation programs and other community partners who serve the needs of individuals who are looking to reenter the workforce after personal setbacks.

These partners often help you evaluate talent before you hire them, and even if the employee is transitioning from one industry to another, their skills may transfer really well. By focusing on the skills they actually have rather than degrees or other qualifications, you can discover talent other employers might be overlooking.

Freelancers and Contractors

Like employees who are reentering the workforce after challenges or boomerang employees, many people discovered self-employment and freelance and contract work during the pandemic. In many industries, these professionals are just as qualified or more qualified than other individuals, and Forbes predicts there could be 10 million more freelancers in the near future.

Many bring a variety of experiences and talent, and you can hire them either on a contract basis, on a project basis, or with the right incentives as part-time employees. No matter what path you choose, this pool of potential employees brings skills, perspective, and often a big-picture mentality to your workforce. Whether you work with them short-term to address your immediate needs or on a longer-term contract basis, freelancers can revolutionize your business.

Overqualified Employees

Lastly, you may have employees in your company who are working in positions where their skills are not being fully utilized. Rather than letting them quit and move on to other companies, you can use various means to discover their skills, and utilize them to address the skills gap in your company by promoting them or even creating new positions that use their talents.

Often, the talent your company needs is right in front of you.

There are several benefits to talent rediscovery for businesses. One of the biggest benefits is that it allows businesses to tap into a pool of experienced and skilled workers who may not be actively seeking employment. This can be particularly valuable for businesses in industries where there is a shortage of qualified candidates.

Another benefit is that talent rediscovery can help businesses diversify their workforce, bringing in individuals with different backgrounds, skills, and perspectives. This can help better meet the needs of your customers and enable you to adapt to changing market conditions.

Overall, talent rediscovery can be an effective way for businesses to address labor shortages and bring in skilled and experienced workers. By proactively identifying and recruiting talented individuals who may have left the workforce or are underutilized, businesses can tap into these hidden pools of talent and diversify their workforce at the same time. By providing support and accommodations, businesses can also help these individuals succeed in their new roles and contribute to the overall long-term success of your business.