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Managing
People: Now This Is Tight - Labor Market
We hear about the tight labor market all the time, and if your
company is hiring anyone beyond entry-level positions, youve
experienced it first hand. But if youre in the market for high-tech
workers, it gives new meaning to the word. The American Electronics
Association reports unemployment rates for engineers is a mere 1.6%, for
computer programmers a negligible 1.4%, and for math and computer
science workers an infinitesimal 1.2%! And get this: the number of
high-tech college grads dropped 5% from 1990 to 1996, yet demand for
such people is projected by the Labor Department to rise 118% by 2006.
That means emerging companies and technology enterprises will feel the
pressure tenfold, because theyre growing faster than the averages.
What should you do? If you need to hire technology workers, this is
exactly the kind of market when you should use a qualified search firm
or agency to do the work. Candidates you find any other way, e.g.,
newspaper ads, are likely to be the bottom of the barrel, and you will
have to do the sorting and qualifying, looking for that elusive
"needle in the haystack." Then, should you find a really good
candidate, they will need to be sold on your company without giving them
the deed to the ranch as an inducement. Thats exactly what search
firms are best qualified to do. These skills are much more necessary in
tight labor markets than in easy ones. You are the buyer in a sellers
market.
So, in a really tight labor market, go to the experts for help. They
are well worth the price.
Source: Plan Wise, a publication of The Advisory Group, Santa
Monica, CA, 310-828-4414
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