Monday, June 17

The brutal truth: Most companies do their best to underpay qualified applicants

"There is a durable belief that much of today’s unemployment is rooted in a skills gap, in which good jobs go unfilled for lack of qualified applicants. This is mostly a corporate fiction, based in part on self-interest and a misreading of government data. … The biggest problem in the labor market is not a skills shortage; rather, it is a persistently weak economy where businesses do not have sufficient demand to justify adding employees." …
"Peter Cappelli, a professor of management at the Wharton School, has noted sharply different opinions between corporate executives, who typically say that schools are failing to give workers the skills they need, and the people who actually do the hiring, who say the real obstacles are traditional ones like lack of on-the-job experience. In addition, when there are many more applicants than jobs, employers tend to impose overexacting criteria and then wait for the perfect match. They also offer tightfisted pay packages. What employers describe as talent shortages are often failures to agree on salary. … If a business really needed workers, it would pay up."
Don’t Blame the Work Force (NYT)

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