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For the past couple of years, we have been hearing about a talent shortage. Depending on whom you ask, they may or may not believe it to be true.
The talent shortage myth is the idea that companies and hiring managers across many industries are in a battle for talent due to the lack of qualified job candidates. With few candidates, positions go unfilled. To fill positions, companies need to provide more incentives for top talent to come work for their company, meaning the power is in the hands of candidates. The talent shortage myth exists particularly in technology and other specialized fields.
“But we know from several reports that the problem isn’t the pipeline. It’s rooted in unconscious biases that are threaded throughout employers’ recruiting, hiring, and retention efforts, all of which, to be fair, are manifestly difficult to unravel,” says Lydia Dishman, on Fast Company, in regard to the talent shortage in tech.
Others argue there actually is no shortage, rather there is a lack of willingness by companies to adjust their hiring and recruiting process.
“How can there be a talent shortage, when millions of people are looking for work? Here’s how: there’s a talent shortage whenever employers complain that they can’t find people with just the skills and the background they want, at exactly the price they’d like to pay,” says Liz Ryan on Forbes.
“The talent is out there, it just might not look the way you expected it to, so it’s likely you will need to make a compromise in one or more areas,” adds Pete Macauley from MichaelPage.
Whether you believe there is a talent shortage or not, there are things your organization can to do to ensure you find top quality candidates to fill open positions with your company:
Get more recruiting tips by checking out these blog posts from our experienced recruiters:
IQ PARTNERS is an Executive Search & Recruitment firm supporting clients across the country. We help companies hire better, hire less & retain more. We have specialist teams of recruiters in Technology (IT), Accounting and Finance, Consumer Goods, eCommerce and Retail, Financial Services and Insurance, B2B and Industrial, Operations and HR, Professional Services and Legal, Media, Digital and Marketing, Pharmaceutical and Life Sciences, Emerging Technology and Telecom, and Sales. IQ PARTNERS has its head office in Toronto and operates internationally via Aravati Global Search Network. Click here to view current job openings and to register with us.
Randy co-founded IQ PARTNERS in 2001 and currently operates as a Senior Partner, focusing on business development within executive search, media, and sales recruitment. His accomplishments include building over a dozen digital media sales teams for digital start-ups, publishers, and mobile app developers. He has also helped launch an international smartphone manufacturer from the ground up, building its entire hardware, software, and sales teams.