Not enough resumes to cross your desk? Try to follow the lead of CEOs across the country and be creative with whom you consider a potential hire.
Without enough traditional applicants, companies have broadened their scope and dropped requirements that were considered minimal before the pandemic. Nearly a quarter of CEOs have changed their hiring criteria, according to a new report from the conference board, The mid-year study surveyed 750 executives between May 10 and May 24.
The survey found that in an effort to increase the number of candidates, CEOs had rewritten standard job postings to their companies, including reducing the number of years of experience required. Some CEOs have decided to remove the degree and certification requirements. Seven percent of C-suite officers consider individuals already imprisoned to have established second-chance recruiting practices. Hiring full-time employees has proven so difficult that a quarter said their company would rely more on contract workers in the future.
This can serve as a powerful remedy for the more than half of small business owners who cannot fill their job openings. National Federation of Independent Business, Many companies are trying to increase headcount reports receiving few or no qualified applicants for open roles, with a quarter of business owners citing labor quality as their most important problem.
Small businesses cannot rely on patience to solve this issue. With unemployment rates at 50-year lows and job vacancies at historic levels, the labor shortage shows no signs of easing. “The current picture is clear to see,” said Federal Reserve Chairman Jay Powell during a Press conference Last week in Washington. “The labor market is extremely tight.”
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