The great recession, as it has been called, officially ended five years ago. Since that time we have seen some signs of recovery and the he economy is beginning to show signs of real improvement. In addition, the recent trends in the markets are also suggesting a brighter future. Along with this, however, hiring trends that are very troubling for employers have come to the forefront.
Among the Hiring Trends is the Growing Lack of Skilled Candidates
It is true that rising unemployment, unprecedented massive layoffs, and a scarcity of new jobs are now behind us as the job market has improved and more jobs are added every day.
And, yet, despite these positive signs of growth and recovery, according to many experts a new problem has evolved. It appears that many employers are now having a difficult time filling open jobs.
It's called a "skill gap" and it is a problem that is plaguing more than half of employers nationwide who have open jobs, but cannot find qualified candidates. In addition, almost 8 in 10 employers are have extreme difficulty filling positions at all.
80 Percent of Employers Face Difficulties Finding Qualified New Hires
According to Dan Schawbel, a speaker and best-selling author:
"If you ask any HR executive what their biggest challenges are, the skills gap is typically unanimously noted. I’ve been paying close attention to this trend over the past few years and the gap is actually widening instead of closing. The Bureau of Labor Statistics shows that there were 4.7 million job openings in June and more than half of employers say that they can’t find qualified candidates."
The problem is one that has come about as a combination of disparate causes including the inability of higher education to catch up with the increasing technical demands of today's workplace. In addition, employers are still reluctant to invest in training, hoping that the market will reward them by holding out. Job candidates, too, are coming up short in the area of relevant marketable skills.
Mr. Schawbel goes on to say, "This issue will progress until the college curriculum aligns with the current job marketplace. This year, we found that only 2% of companies are recruiting liberal arts majors but schools still offer those degrees. Companies need to start working with colleges so that students get the necessary skills to fill the gap."
According to their summary in a recent report issued by CareerBuilders, "Employers must embrace change and invest creatively in the skills of their workforce, and they must also begin to consider more competitive compensation." Since the current consensus seems to indicate that this skills gap is only going to increase over time, it is imperative that HR staff begin to plan for possible expansion in skills training for current and new employees.
The report summary goes on to note that, "Job seekers should actively strive to add marketable skills to their résumés, and academia must dedicate themselves to communicating to employers the top qualities they look for in a new hire."
Continual Training May Be The New Normal
Other recent studies have shown that job skills rank as the number one need for internal training with leadership/supervisory skills right behind that. The typical HR department's role in training is becoming increasingly broad. It is estimated that over 80 percent of typical HR departments will be responsible for determining what training is needed. for purchasing the training materials used, and for actually conducting the training itself.
In addition to a growing and demanding role in recruiting, hiring, and continually training employees, the HR staff will still be responsible for every other function they are typically tasked with such as payroll management, tax filings, employee records compliance, and so forth.
Considering alternatives such as outsourcing is increasingly becoming a cost-effective and strategic option. Accuchex can help you in managing your HR needs, payroll processes, and staying on top of compliance demands. Get your Free Download: Payroll Outsourcing Guide to help you make an informed decision or call Accuchex Payroll Management Services at 877-422-2824.