New research from Boston Consulting Group (BCG), a leading global consulting firm, The Network, a global alliance of more than 60 leading recruitment websites, and Appcast suggests that reskilling / retraining may help hiring organizations recruit and hire the candidates they require in what has suddenly become a highly competitive environment.
As more businesses reopen and the economy rebounds by leaps and bounds, the competition for candidates will only increase. Buckle up, talent acquisition professionals, it’s going to be a wild ride.
Where the workers aren’t
In fact, hiring organizations in industries like retail and food services are already struggling. This is partly because people who had worked in businesses that were closed because of the pandemic have moved on to other jobs.
At the same time, there are fewer people unemployed. For the week ending April 17, new unemployment claims declined to a new pandemic low, as this chart from The Wall Street Journal shows.
Meanwhile, a number of large companies, like