We all know how the real estate market works. Sometimes, it’s a seller’s market: prices are bloated, the economy is great, and buyers are beating eachother up in the front yard to be the first offer. Other times, it’s a buyer’s market. Well, the job market is no different.

In poor economic times, the supply of jobs is low and demand is high. That means it’s a buyer’s market for employers and companies, who can choose from dozens of qualified candidates and hold all the aces in salary negotiations. So, employers must really be cashing in right now, correct?

Mmm… not so much. Let’s take a look at three reasons why.

1. Job candidates being reviewed and qualified by disinterested staff. Who reads and sends along resumes at your company? Is it the jaded office clerk who can’t wait for 5:00pm to roll around? The opportunity-squashing HR manager whose primary duty is to prevent risk in the workplace? The overworked executive assistant who has to prioritize things like resume reviews all the way off his/her plate just to make sure the rest of the work gets done in a day? Sounds like a recipe for hiring success.

2. Management looking to cut expenses, not incur new ones. Times are tough for businesses too, not just individuals. What Manager in his/her right mind would approach the big boss with a proposal for new hires when the company just completed a 20% layoff initiative? The Manager who understands cost efficiency, that’s who. In many positions, a highly talented individual can absorb tasks from low-level personnel or vendors, which saves the company money. A great sales or marketing professional will generate significantly more money than they take home. An applicant who really needs the gig will work for less than his/her counterparts, which makes the employer look like a financial wizard once the economy comes back around. Listen carefully employers… there’s gold in them there hills.

3. Inability to grasp the obvious: great people make great companies. Sports teams have talent scouts. Do you know why they have talent scouts? Because they’re smart. They know that great talent – while hard to find – can produce amazing results for the team. They also know that finding talented individuals who have been overlooked by other teams means getting a great deal on someone who is eager to prove him/herself. As someone who was previously in charge of new hires, I can’t stress enough the importance of having your staff not only pay utmost attention to incoming resumes, but also take the initiative to seek out talented individuals looking for work. Chances are, there’s someone out there right now who could take your business to the next level…

Tags: employers, job market