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Staying afloat in the shrinking talent pool

I came across an interesting tidbit in the Austin Business Journal today. According to research conducted by the Austin based job posting site Indeed.com; there has been a significant reduction in the available talent pool from 2009 to today. Full details and a copy of the report are available here: http://blog.indeed.com/2015/05/06/talent-driven-economy/

Back in the dark days of 2009 when the national unemployment rate peaked at 10% there were 6.2 unemployed job seekers per job opening. Currently the national unemployment rate hoovers in the 5% to 6% range and there are a mere 1.7 unemployed seekers per opening. Skilled job seekers, no longer the beggars; can now afford to be choosers. This paradigm shift could feel like bad news for the small business owner who is anticipating the pain of the impending talent war. But when one door closes, another always opens. Let’s take this opportunity to change how we think about the traditional process of hiring.

Small businesses may not be able to offer all the glamorous benefits and high salaries that larger enterprises use to lure in quality candidates; but smaller, more nimble businesses may have an advantage. The Indeed.com research also found that there has been an 85% increase in job seekers searching the term “remote” and increased interest in flexible scheduling, work from home and part time work. Can your small business adapt to the changing needs of the talent pool if it gains you a fantastic employee? Have you looked into the possibility of jobsharing, remote employment or outsourcing? My Staff Your Staff can provide additional information on how your business can benefit from remote work or our own special brand of ExpertSourcing. Call or email today, we can help!

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