Supply of and Demand for Employees and the Implications for Businesses - Essay Example

A more than needed number of employees with skilled talent are likely to be seen in other areas and industries. The vibrant changes in worldwide economics, as well as the continuous evolution of technology, require that companies reconsider the manner in which they deal with their shifting talent prerequisites. Some of the changes are contrary to what the companies have been facing in different markets as the new actualities make it mandatory for HR departments to devise new and innovative ways of accessing talent all over the world.
Meaning of “search for the purple squirrel”
According to the case study, “the search for a purple squirrel” symbolizes the manner in which companies in the IT industry attempt to fill vacant positions by selecting and recruiting candidates who are “perfect”. This statement denotes the endeavours of a company is seeking an individual who brings the model qualifications and experiences to the position (Farrell, 2012). Nevertheless, it can be challenging and almost impossible to find this impeccable candidate in the same way that a purple squirrel cannot be found in the forest (Cohen, 2013). It is possible for the companies that are not IT related to search for the squirrel as in recent times; companies have demonstrated a desire to hire only individuals who have already done the exact job they are being recruited for.
Suggestions for spotting talent
In the process of spotting talent, it is critical to organize the approach to avoid lengthy and inconsistent lists of required traits, which make it had to focus on priorities. It is also important to look out for the candidates who are smart and are able to thrive comfortably in decision-making settings including those that are not completely clear and are able to see the effect of their decisions. Further, candidates that possess a significant degree of mental agility and are able to think on their feet are the most ideal for a company. During the recruitment process, exercises should be developed as a way of identifying the candidates who will be able to make the correct choices in the daily activities of the company. In the process of interviewing the candidate, it becomes easier to identify a talented candidate if the interviewers avoid glide through topics and instead delve more into each topic. This will allow the candidates to demonstrate a clearer sense of their character and in the process, their record of accomplishment will be revealed.