Executive Search Firms on the Talent Shortage

By September 26, 2012 No Comments

The past decade has seen a staggering rise in unemployment as a result of poor economic conditions. With so many job seekers flooding the market in every industry, it is very understandable how one might be led to believe that it should be fairly easy for employers to find quality talent at a moment’s notice; like shooting fish in a barrel. However, many companies have found to their dismay that the exact opposite seems to be true, that as opposed to having an endless supply of talented candidates lined up at their door, they are having an exceedingly difficult time finding any well qualified candidates. As is often the case, when looking for someone to blame for this lack of candidates with the necessary skills and experience desired, employers are pointing the finger at the education system for what they see as a failure on the part of schools to instill in their students the adequate talents necessary to meeting the needs of the business world.

It could also be argued that this talent shortage is the result of the fact that it has only been those less talented individuals who have fallen victim to the degenerating economy. Yet another potential source of the problem might be seen as the employers themselves. It has been insinuated that it is the unreasonably high expectations of the employers that has made it near impossible for them to find satisfactory candidates, by creating unreasonably lengthy lists of skills and experience requirements, and who become even more overly critical when it comes to the interview process. However, whatever issue may be the root cause of this shortage, if companies are to avoid being left floundering to fill open positions, the fact must be accepted that employers need to change the way they handle their hiring processes as well as the way in which they view those candidates who, at first glance, may appear less than ideal at first glance.

In response to this need for a solution, executive search firms have identified what may be a far more effective method for companies to cope with the shortcomings of their applicants which can actually be more efficient and positive than the search and hiring of an individual who interviews well and looks good on paper. The answer seems to be that as opposed to trying to buy talent – find the perfect individual, someone who can actually meet their ridiculous standards, and then throw inflated compensation and benefits plans at them – which seems to have become the common policy of nearly all organizations, companies should instead begin seeking to take on individuals in whom they can invest. These candidates, while they may not have all the specific skills and extensive experience that the employer might hope for, can be taken on and trained to do the job to the company’s standards and specifications, and probably for a good deal cheaper than their more proficient counterparts. In essence, the basic answer seems to be that, as opposed to being obstinate and holding out for candidates who may never come along, employers will need to begin reassessing their efforts and reorganizing their executive search and hiring processes, as well as beginning to redefine what qualifies as the perfect candidate.

Published by Conselium Executive Search, the global leader in compliance search.  

PLEASE follow us!