Employers Getting More Bang For Their Buck In New Hires

Employers seem to be getting more bang for their buck with their new hires in the "new economy".  BMW is hiring and getting higher skilled workers for less money.  This seems to be an industry wide trend.

Over the last two years, many highly skilled workers have been layed off and there haven't been as many jobs created that have been lost.  Also, think of all the college graduates that have been pumped into the work force over the last few years... unable to find work in their desired field or profession.

Here's a piece from the Washington Post article:

This situation is creating a huge talent pool for manufacturing companies to hire from.  Among the applicants at BMW: a former manager of a major distribution center for Target, a consultant who oversaw construction projects in four Western states; a supervisor at a plastics recycling firm. Some held college degrees and resumes in other fields where they made more money.

But they're all in the factory now making $15 an hour - about half of what the typical German autoworker makes.

The trade debate in the United States usually focuses on the jobs lost to factories in the developing world. But the recession has forced countless skilled workers in this country to consider jobs they would have rejected in the past. They now offer foreign manufacturers a resource that was far less common just a few years ago: cheaper wages for better talent.

"We are a low-wage country compared to Germany," said Kristin Dziczek, director of the Labor and Industry Group at the Center for Automotive Research. "And that helps put jobs here."

As employers, this is really a time of great opportunity.  With all this talent available, and eager to work, now is the perfect time to take your team to the next level.  Think of it in terms of professional football.

In the National Football League, you have 32 teams all trying to put the best team on the field either through the NFL Draft or Free Agency.  But now, let's say 4 teams went out of business.  So now all those players on those teams are free agents along with all the other players that contracts hav expired and have become free agents.  Also, don't forget the draft class.

So now you have this rich talent pool to pull from.  You can upgrade your offensive line, get highly touted wide receiver or maybe get that franchise quarterback you've been needing for the last decade.  Really, the sky is the limit.

In the NFL they have a salary cap... but in business, it really just comes down to what you are willing to pay for the talent you want to acquire.

So in retrospect, this recession could really be a blessing in disguise for a lot of companies, IF they are taking the necessary steps to prepare their team for the upcoming season and seasons.