Where’s Waldo?ByRaymond D. Matkowsky
Where’s Waldo by British illustrator Martin Handford was originally called “Where’s Wally.” “Wally” became “Waldo” in the United States and Canada because publishers wanted a more local name that readers would be familiar with. “Waldos” are very intricate illustrations that you can stare at for hours and still not find “Waldo”. This is not much different from the employment situation in the United States and I would also believe in Europe.
EMPLOYMENT STATUS
In March of 2022, the number of job vacancies hit a record 12 million in the United States. In January of this year the vacancies was 8.748 million people. The labor force in the United States is 167.98 million. The unemployment level is 6.5 million. Clearly, there are more job openings than unemployed. Besides, not all of the unemployed would have even the most basic skills needed. Just like a “Where’s Waldo”, you could be staring at the employment situation for months or years and never find what you want. So what do you need to do?
First let’s review the facts. There are only approximately 168 million people in the U.S. workforce. This limits the pool of people available. 6.5 million people are unemployed. Very few of these will have even the most basic skills needed. Let’s say 30% which in my opinion would be a gross overestimation. Unemployed people would only account for 0.7% of the open positions. Under my estimation, this number would be 0.23%. What are your chances of finding “Waldo” (a.k.a your job candidate) among this group?
OPTIONS
You have several options open to you. You can continue to do what you have been doing. We know what success that has been for most people. You may be successful, but you may also be waiting for a long time.
You can raid your competitor. However, you may only have one or two competitors. The pool of available workers can be substantially reduced. Plus, you most likely will have to offer a costly incentive for that person to switch employers.
You can hire to train an employee in the ways you need. This may be the most cost effective and quickest procedure you can take. An alternative would be to train an existing employee and hire new lower level employee. In my opinion, this is even better.
I would like to put one myth to rest! No one ever “hits the road running.” If nothing else a new hire experienced or not has to familiarize oneself with the products available and the customers who purchase them.
TRAINING ADVANTAGES
Hiring from within has many advantages. Employees want advancement. They work harder for an employer that offers such possibilities. You already know their work ethics. It is easier to advance a low level employee and fill his or her old job. The employee already knows your customers. Your customers may also know your employee. Hiring from within is worth considering.
POWER TO ADVANCE
Stop complaining about unfilled jobs! You have the power to fill them and grow. You have the power to leave your competition in the dust.>
If you have any comments, let us know. Email me at rdm@datastats.com. We will try to print it in our next newsletter.
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