Why So Hard to Find Talent? This Image Sums IT Up For You.
Look at the image above and really try to understand how broken the hiring process has become. According to a 2013 survey by Manpower, 39% of employers in all industries were having trouble filling open positions. The graph above explains why. While positions are left open through selective “choosiness” do companies really consider the true cost of leaving positions vacant?
Number two on the list of the ten hardest jobs to fill according to Manpower’s survey was sales representatives. Now using the graph above let’s map out a hiring scenario.
I’m looking for a sales representative who has experience selling to C-Level executives at semi-conductor companies with 500 or more employees. Sounds pretty simple right? Well let’s see. After gathering resumes from job postings and recruiters, the candidates are either fed through an applicant tracking system or through HR professionals. Let’s pretend I have 100 resumes with which to start. Bam, right off the bat the ATS eliminates sixty candidates. Most of these aren’t remotely qualified but a few good ones who don’t know how to pepper their resumes with relevant keywords slip through the cracks. The HR professionals eliminate another ten because, though the applicants are dynamite quota busters, they have either jumped around too frequently or have sold only into smaller companies.
Next, I begin reaching out to the thirty that made the cut. Only ten of those remaining candidates live within a commutable distance to the office. The others didn’t want to drive ninety minutes to work. The employer is willing to relocate a candidate from another state but unfortunately the candidates that would consider relocation live in an area of the country where the cost of living is much lower.
So now I have only ten candidates left who on paper appear qualified. Of these ten first contacted by a recruiter, three are happy with their current employer. Great, now I only have seven candidates!
Two of the seven remaining candidates make far more money than what the employer is offering. “Thanks but no thanks,” they reply. Now I’m down to a measly five. Five is better than nothing though.
I video interview the remaining five and show their interviews to the hiring manager. Within minutes three more are eliminated for “cultural fit” reasons. Now I’m down to only two candidates, which isn’t great, but at least I saved the hiring manager time by not having to interview all five in-person.
The big issue now is that the better of the two candidates has received job offers from at least one other employer. Ok, no problem if we act quickly. But nooooo! The hiring manager drags his/her feet for seven days and the candidate goes elsewhere.
One candidate remains. Though not the best this is a good candidate who won’t require much training because we know how employers no longer like to invest in training. The hiring company makes a good offer to the candidate but unfortunately the candidate’s present company makes a counter offer that is much better. Guess what? We are now back to square one.
Keep in mind that from the time the first posting went up until the time that only five candidates remained, six weeks or more may have passed. During that time and for the next six weeks while more candidates are found, this open sales position will remain unfilled or filled by a sub par candidate. But hey, it’s only money, right?