Why the Job Market Needs Optimization

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Not only does it feel daunting for younger generations to find the right job, but those who are active in the workforce today are often disengaged or feel that they haven’t found the right job. The job market search relationship displays a challenging disconnect for both job seekers and employers, but focusing on what is causing the central inefficiencies in this process can shed light on possible solutions for hiring managers and job seekers alike.

Talent misalignment

This is one of the biggest — and most challenging — inefficiencies in today’s market. Even today’s most successful companies often lack a strong talent identification strategy. Employers who attempt to hire without the support of external guidance will likely find that locating top talent for the role they hope to fill can become a full-time job in itself. Today, technology has introduced a new level of transparency for job seekers that is both good and bad for hiring staff. On one hand, job seekers may display projects they’ve contributed to, tangible examples of past work, and links to information about previous companies they’ve worked for or positions they’ve held. Unfortunately, this type of transparency isn’t always accurate when the information can be worded and displayed in a less-than-accurate manner.

Job seekers, in particular, younger generations, often boast bloated resumes that can require some filtering before employers understand their level of experience. Working with a third party is often the easiest and most efficient way to determine if someone’s background truly does meet the requirements for the job.

The disconnect between expectations versus reality

“If most people aspire, and even feel entitled, to fulfilling careers, and expect to have jobs that are fun, creative, and highly paid, most people will be disappointed with their jobs,” writes Thomas Chamorro-Premuzic in a recent Forbes article. Indeed, many Millennials in particular were raised under the pretext that, if they graduated from college, their dream job would await shortly thereafter. Unfortunately, reality is often different from expectation for most graduates.

Some degrees will enjoy spikes in hiring, but others will have a much harder time finding engagement in their first or second jobs out of college, simply based on the fact that there is a surplus of job seekers and not a surplus of “dream jobs.” Job seekers would benefit from seeking out support as they attempt to find their first job especially; it likely will not be their dream job, but working with an external leader in the space to locate an option that they had not yet considered is often the best place to start within any given industry.

Bridging the gap between talent and demand is a problem with an unclear solution, but evidence does suggest that employers and job seekers alike must look for optimization from a third party — such as a staffing agency or recruiting firm — that would have the bandwidth and objectivity to surpass the greatest challenges of the gap itself.

Closing the void between anxious job seekers and frustrated employers is a daunting task, but there is a huge opportunity to not only spike the employment rate, but also drive a more engaged workforce towards a stronger economy and society altogether.

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