The recent challenges faced by many businesses across the country in finding qualified staff, particularly relative to the glut of available labor less than 15 years ago, highlights the dynamic nature of the American labor market and demonstrates the importance for an active and dynamic human resources approach to the hiring process.
“Following the 2008/2009 recession, we saw job openings decline and candidates (especially new college grads) struggle to find employment opportunities in a cutthroat employers’ market,” says Ed Barrientos CEO of Brazen. “Not only was there an influx of candidates and no job openings, but those roles that were open required 3-5 years of experience for entry-level roles, and other unrealistic criteria.”
RETOOLING HIRING STRATEGIES
Today, of course, the situation is much different. Companies across a variety of sectors are struggling to find enough employees to simply maintain their base operations, let alone undertake new initiatives. In this changing environment, the hiring strategies that may have been adequate or even successful just a few years ago need to be reevaluated and retooled.
CHANGE IS CONSTANT
The U.S. labor market is far from monolithic, and even the current struggle to find workers is not unprecedented. The labor market goes through periods of varying supply and demand for labor; sometimes employers have considerable leverage and a wealth of candidates to choose from; other times it’s workers who have a multitude of options. A hiring and recruitment process existing within the context of this shifting and dynamic labor market can’t afford to remain static and rely on old strategies to succeed in new climates.