Why can’t you find talent?! Why are your workers resigning at all-time highs? Why can’t I buy the car I want? Why does my local supermarket keep running out of diet Mt. Dew in the 16 oz bottles!?
The law of supply and demand is undefeated in the history of the world! That’s why!
When there is a feeling of equilibrium in the talent market, meaning we seem to have enough workers and enough jobs, but not crazy on either side, our world works fairly well. For sure, there are outliers, but all of those have a real business answer to why you’re an outlier. Right now, it seems like no one has a real business answer to why everyone is an outlier!
That’s because there isn’t one answer. Well, I take that back, there is, and it’s fairly simple, but your executives don’t want to hear it, we have more demand than supply of talent.
I find it super ironic that really smart executives won’t hear this when it comes to talent, but will go into every single board meeting and using different words tell their boards the reason they can’t sell enough products or services is because of supply and demand. But, when asked about talent, they truly believe TA/HR has a magic machine they can keep filling up with more candidates and employees that is never-ending!
There. Is. No. Magic. Employee. Machine!
By the way, everyone is to blame for this supply and demand issue. It’s not people who work. It’s the entire system failure that causes supply chain issues. What are these failures:
- We are crappy at educating kids for future jobs. We take way to long to react to what our world needs for skills, from a public and private education standpoint.
- Those that have the money are unwilling to properly incentize people for their labor and efforts.
- Those who buy products and services are unwilling to pay more for all the crap we want.
- Employers are unwilling to invest what is needed to grow their own talent and then do all they need to do to ensure they retain that talent.
- We have a government that is basically incapable of doing anything besides work to get voted in again. Rinse. Repeat. Do nothing of consequence.
Gawd! That seems pessimistic, right!?
But, I don’t think so, because every single one of those bullet points we can control as a society, which is why we are all complicit in this problem!
This is not a complex problem. This is simply a supply and demand problem. Create more supply and bring back some equilibrium and everything will be back to normal. I have no fear that this won’t happen because supply and demand are undefeated!