Some companies really need to patch the holes in their hiring process first.
The mythic skills shortage gap – is it real or not?
Well, researchers got some answers.
It turns out that employers actually beef up the job requirements when there’s plenty of good candidates during a recession.
But as unemployment rates go down industry-wide, suddenly most companies are more lax about hiring less qualified staff for the same roles.
Below is a quick chart showing how the required level of education and experience qualifications goes up along with the unemployment rate and vice versa.
Source: VOX.
In other words, the “skills gap” emerges when people can’t find a job because the bar is set too high. Yet, when fewer candidates are on the market, employers are ready to take more “under-qualified” candidates on board.