Building a Talent Pipeline Still Makes Sense. Here’s Why

You’re not hiring, and you don’t know when you will be hiring. As business ramps up, you’ll address hiring needs as they arise.

Sounds like a logical strategy, right? After all, with 38.6 million people newly unemployed, it won’t be hard to find candidates.

Unfortunately, this is flawed logic.

Available workers

Although a record number of people have become unemployed in a nine-week period, some of these individuals will return to the jobs they previously held. Meanwhile, others may not be available, either.

In addition, unlike in previous recessions, unemployment has not evenly impacted all industries. This time, unemployment is highly verticalized.

April 2020 Job Losses

The people most impacted by the COVID-19 business shutdown are those employed in leisure and hospitality, and many of these individuals are less-skilled hourly workers.

Talent shortage

By contrast, in some industries, for certain positions, there is still a talent shortage. The bottom line is, hard-to-fill positions are still hard to fill.

What’s more, it’s difficult to figure out which jobs may become in demand and hard to fill as business reopens.

As an example, the above chart suggests there are plenty of retail employees in the job market. After all, it shows that

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