Whether you’re a company looking for employees or an unemployed worker, you know that the hiring market is in flux. There are a lot of moving parts. While the economy is functioning at over 90 percent of where it was in March 2020, there are still people out of work and positions in every field that need to be filled.
Since two-thirds of the people on unemployment were making more money than they were at their previous jobs according to economists at the University of Chicago, many of them are waiting until their benefits run out to go back to work. This creates a unique challenge in the post-pandemic economy—hiring the right people for the job and filling those vacant positions. While the challenges will make the transition longer, it is completely accomplishable.
In May of 2021 almost half of the students who graduated in 2020 were still looking for a job. 2021 graduates have now joined them. While many companies don’t want to hire employees who don’t have experience, newly graduated students offer many benefits. They will work for less because they want to gain that experience. They are motivated to grow in business and make more money than they will starting out.
Sometimes lack of experience is even a benefit. If you want to train someone from the ground up for an entry-level position, they won’t come with bad training habits. Furthermore, since they don’t have much experience the sky’s the limit as far as growth goes. When you’re looking to expand and need entry-level workers, don’t dismiss college graduates. They have a unique perspective and a different set of skills than older, more experienced employees.
A lot of companies and hiring managers overlook the importance of a background check for job candidates. People mostly think of criminal records when they think of this resource, but they offer much more than that. One of the best details that companies can obtain from background checks is verification of both education and employment history. It will provide information on past names and addresses. Background checks will even show you their driving record. Beyond the individual details, the most pivotal thing about background checks is that you can tell whether or not they’ve been honest and trustworthy.
Unemployment & Unfilled Positions
During the pandemic lockdowns and regulations, lower income workers have been the hardest hit. They lost their jobs at a greater rate than others, but made more money on unemployment than on the job. This is why many of them have chosen to stay on their benefits and wait to get a new job, creating a unique problem in the market and holding back specific industries. For example, according to the National Economic Intelligence Report, leisure and hospitality won’t return to their pre-pandemic levels in 2021. Customer service businesses are also having a hard time finding enough employees. Still, as unemployment benefits run out people will have to find a new job later than the others who went back to work.
Using the Internet to Bridge the Gap
Whether you’re a worker looking for a job or an employer who needs to hire workers, everyone should be utilizing the internet to the best of their ability. First, you can use social media to announce that you are looking for a job or that you’re hiring. LinkedIn is a great resource to connect with the right company or candidate. Other platforms help companies take a look at the character of the person. Furthermore, career sites have developed and evolved to an extraordinary level. They use sophisticated algorithms to match a business with the right employee. If you are looking for a job or workers, it’s imperative to use the internet to find them.
The post-pandemic economic recovery is occurring faster than most experts thought it would. The United States is over 90 percent compared to the pre-pandemic economy. Still there is a gap to be bridged between the people who are still unemployed and those who need employees. Companies and candidates alike have a variety of tools at their disposal to connect with the right counterpart. It’s time, simply, to use them to their full potential.
Ryan Beitler is a journalist, writer, and blogger who has written about the economy for dozens of publications.