Our most recent Newsroom 515 discussion, on labor, pointed to one key – and familiar – issue: The labor market is tight and everyone needs workers. Leaders discussed key tips like expediting the hiring process and looking out of state for workers. Here are four takeaways, one from each of our panelists. 

“We’re not going to be able to squeeze [new workers] out of our current labor force, so either the company brings them or we are able to attract them either internationally or from other states.”
Liesl Eathington, Iowa State University demographer

“Employers just need to be more open to people moving into Iowa and have a realistic expectation of how long that person might be employed with your organization.”
Chris Lorenz, director of engineering recruiting, Palmer Group 

“I’ve always had the old adage that you hire slow and fire fast. In today’s market, especially with the talent like it is, having a three- or four-interview process — the candidates will not be available. I work with our customers and say we need to expedite the process — not necessarily at the executive levels or strategic levels, but maybe at some of those middle-level positions. We’re going to get a little more aggressive in expediting the hiring process.”
Mike Rice, president, Aureon Consulting

Wells Fargo has come up with a system that allows employees to cope if their child, or someone else in the family they assist, needs help. “If you need to step away from work for a period of time, you can do that. It has been such a shift where life always happens, and now people don’t have to worry.”
Jean Clabaugh, senior vice president, talent acquisition strategy and delivery, Wells Fargo

Watch the full video and read our Insider coverage