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.
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.