Relationships Take Time 2
(October 11, 2007) Job
postings don't work very well in certain markets. For instance, seasoned
working investment brokers with formal certification simply don't cruise
the job boards.
In New York metro, there's a real
shortage of mid-level executives. The supply of college graduates is
less than adequate to replace the attrition losses. (I want to underline
that last statement...while the population does, in fact, continue to
grow, the output of colleges and universities is falling short of
demand. The scene in NYC is foreshadowing hard labor supply problems in
the areas inhabited by middle class and upper middle class workers.)
A job posting (which is a hangover from
the old newspaper classified advertising days) simply communicates the
availability of work. It doesn't know anything at all about whether or
not there is anyone available to take the job. It's just a bunch of text
and hope.
Posting jobs might have been a practical
approach to acquiring employees when population was growing uniformly
and unemployment was consistently high. Today, unemployment has been at
historic lows for years. In critical industries, the unemployment rate
is much closer to 2% than the national or local statistics suggest.
Among college graduates, there is nearly complete employment.
So simply writing down some text and
shipping it off to a media outlet just isn't going to work well anymore.
Countless Recruiting consultants will be
echoing the title of this series as employers discover that their "one
button solution" no longer works. It takes significant time
and investment to build a real talent pipeline. The tide is now turning
irrevocably.
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