In Response to Shrinking Unemployment Numbers, Lewis-Price & Associates CEO Sharing Insights to Help Growing Companies

Ken Coleman, CEO and president of the Virginia-based staffing agency Lewis-Price and Associates, Inc., is sharing his insights on how growing jobs numbers and shrinking unemployment can impact businesses and their efforts to fulfill expanding workforce demands.

Coleman, whose agency currently staffs employees in more than 15 states across the U.S., appeared on Business Innovators Radio to explain why cutting staffing agencies out of their hiring process can detract from a growing business’s focus on its people.

“Working with a staffing agency can actually help to increase efficiency and continuity of operations,” says Coleman. “With a staffing agency on board to focus on recruiting and hiring, your company’s internal HR staff can direct their attention and engagement toward their current team members.”

Coleman says that recent reports of growing jobs numbers and a shrinking pool of unemployed workers across the nation over the past year are creating recruitment challenges for many expanding enterprises.

The Bureau of Labor Statistics says that the civilian labor force is projected to reach nearly 170 million by 2026, growing at a rate of more than half a percent per year. Meanwhile, the U.S. unemployment rate fell to 3.8 percent in February 2019 from 4 percent in the previous month, and the number of unemployed persons decreased by 300,000 to 6.2 million.

According to the American Staffing Association, the trade association representing the U.S. staffing industry, agencies like Coleman’s help bridge the gap by hiring nearly 17 million temporary and contract employees during the course of a year, and that resource can be an ace in the pocket for expanding companies.

But if you’re imagining the storied temp worker of old – unqualified or able to perform only entry-level jobs – Coleman says to think again.

“Today’s staffing agencies have broken the mold,” he says. “We certainly see ourselves as a career development company. We have team members with degrees from schools like Harvard and the University of Maryland,” he continued. “They have varying backgrounds and skill sets, and we have them working across program management, IT, and graduate-level training and education fields.”

That’s why, Coleman points out, that companies seeking collaboration with a staffing agency not only must have a solid understanding of their own needs, but also have to conduct due diligence on the agency they want to collaborate with to ensure their new partner can provide the right skill sets and commitments for their company’s needs.

He also warns that companies concerned about the expense of a staffing agency need to consider the greater cost of going it alone, pointing to the amount of nonproductive lag time that comes with a vacant position when HR struggles to find a qualified candidate or meet requisite procedures.

“There are so many components of recruiting and hiring, even for just one position, than most business owners consider,” Coleman explains, “the least of which are the legal considerations, especially in the government contracting space. You cannot neglect the labor laws and the regulations that can differ from state-to-state.”

Coleman acknowledges that the recent reports of growing jobs numbers can be a positive sign for young companies, but adds that growth has to be paired with a solid transition plan for new employees, one that integrates them with those who are already on the job.

“It really is a deeply involved process,” says Coleman, “and a staffing agency understands this process. It’s what we do all day, every day, leaving your HR team to do what they need to do every day – engage with your current workforce and take care of your people.”

About Lewis-Price & Associates, Inc.

Founded in 2003, Lewis-Price provides staffing solutions to public and private companies to assist their clients in achieving their business goals through targeted strategies and innovative training methods. They provide resolutions to business problems in the fields of Information Technology, Cyber Security Operations, Information Assurance and Global Security, Contract Administration and Asset Management, Program Management, Professional Development and Training, and Staff Augmentation.

Grounded in the values of integrity and intention, Lewis-Price is committed to helping their clients find the right professionals at the right time to meet their corporate objectives. With a unique blend of professionalism, passion, and problem-solving techniques, they provide the most cost-effective path to supply their clients with business solutions that increase productivity, optimize performance levels, and maximize staff consistency.

To learn more about Lewis-Price & Associates, Inc., visit the Lewis-Price website.