A significant number of US employers are turning to hiring low-skilled staff as they struggle to cope with tight budgets, according to a new study.
The Robert Walters survey found that nearly three-quarters (71%) of employers have hired candidates who lack the ideally required qualifications or experience, due to financial constraints.
Additionally, around half (48%) considered budget constraints to be the main challenge when recruiting the right talent.
Tight budgets force tough decisions
US recruiters also cited a lack of qualified candidates (37%) and stiff competition from rival companies (12%) as concerns in hiring the right talent, yet ongoing budget shortfalls leave many companies unable to attract the right workers in the first place – an alarming seven in 10 employers acknowledge that their compensation packages fail to attract top talent.
As a result, four in five workers are under increased stress due to an influx of unqualified hires, and a similar number of employers believe that hiring better-qualified candidates would alleviate the burnout experienced by existing staff.
The study uncovered a deceptive tactic used by employers to attract certain workers, whereby a salary offer is artificially inflated before being reduced at the final interview stage – however, with 81% of candidates willing to walk away at this stage, Robert Walters believes this could only serve to cause reputational damage.
“Allocating budget to recruiting well-qualified talent from the start could be a more strategic investment, potentially saving time and improving overall performance,” said Sean Puddle, managing director of Robert Walters New York.
“This not only impacts the overall performance and growth potential of the business, but also creates undue stress on existing employees.”
