But here is the probably outcome... short term lower unemployment.
The reality is that when an employer says they have some number of open positions and it makes the news they tend to get exponentially larger number of candidates. So right off the bat it's going to cost them more to connect with the candidate pool.
Since there are a plethora of candidates the salary pool will be "managed" meaning that they are not likely to be hiring the company's chief scientist, economist, etc... it's going to be a middle to entry level position. Face it; it's a cattle call.
So here is some advice for both the candidate and the employer.
Employer. When you are hiring via a cattle call. Either make certain that you have room for the exceptional contributor in the budget or make certain that you do not hire anyone who is is overqualified. And you might want to make sure that you are responsive to all of the candidates. There is no need to take 2 months to say thank you. This is the technology age, do not ask anyone to retype their resume and do not use sites like jobvite or Taleo that do.
Candidate. When you go to a cattle call. Be aware that you are probably going to be passed over if you are over qualified. You should get some sense of things from the job description. So either dumb down your resume or expect to be turned down. But if you take the position and you cannot get whatever adjustments you need in 30 to 90 days... expect to be fired or feel the need to quit. So keep that resume going.
Here is a true story. I have a C-level friend and a few years ago he was interviewing for a new position. Some company offered him a position with a salary that was two-thirds of his previous salary. At this rate he would be a complete steal and very overqualified. While he was negotiating the position he said something like: if you hire me at this salary I'm going to continue looking for a job and I'm probably going to take it. There was probably some pleasantries that bookended that message as to not sound like a total jerk but it makes the point. Anyway he started his own company and is making a living and enjoying the quality of life.
Another good friend of mine draws on extensive management training and his advice is that you have to take salary out of the equation so that employees are only concerned about the work and family and not the salary. So unless you are an entry level employee or you plan to move laterally then cattle calls are not the way to get good jobs.
just a few more things:
- cattle calls typically mean that there is also going to be a culling at some point.
- event for entry level positions with entry level candidates they are going to get slightly lower salaries.
- with all this money heading out the door there is not likely to be funding for relocation.
But good luck anyway.