The economic indicators may be showing signs of life, but the US economy is still in recovery and will be for some time. Since the labor market lags economic recovery, a surplus of labor is now available for hire. As companies move to snatch up key talent that might not otherwise be available (or affordable), is their job easier or harder?
The quick answer is to say easier. After all, there’s a lot of extra labor out there looking for work. Many of those are extremely talented folks who simply had the misfortune of working for a company who wasn’t set up to survive the recession very well. But there are also a lot of B and C level employees who were in the rounds of layoffs because they are B and C level employees. And then there is the sheer number of applicants regardless of what level of employee they are.
A recent MSNBC article showed that JC Penney received more than 15,000 applications for 500 job postings at a new Manhattan store. I think JC Penney is not alone. Many hiring employers are finding themselves under a deluge of resumes. And that’s not the only issue.
The longer people are out of work, the more desperate they become for a job. The more willing they are to go out on a limb and try to change careers. The more likely it is that they will apply for a job that they aren’t necessarily qualified for in the hope that maybe things will work out.
Yes, there is some great talent out there. And for companies in a good position to start growing, the time is ripe to snatch them up. But they are going to have to wade through a lot of resumes and have some good screening processes to find the true A level employees. So I think the answer is that finding that A level talent is harder.
What do you think? Are you screening for talent now? Is it easier or harder with the number of folks out there looking for jobs?