The BizFilings blog covering business tips and trends.
The U.S. Job Market and the 2011 Graduating Class
Published on May 2, 2011
Read 'The U.S. Job Market and the 2011 Graduating Class' at 'Time to Start Up,' the small business blog by BizFilings.
Entrepreneurs forming a company may face greater competition from other small businesses this spring as the newest class of college graduates enters a workforce that is gradually returning to an employees' market.
While unemployment - currently at 8.8 percent - has a ways to go before it reaches pre-recession levels, small businesses and startups may want to consider their recruitment strategies so as to optimize their field of candidates.
It may also be advisable to modify the interview process, not only to make the position more attractive to job-seekers, but also to narrow down the most fitting prospects.
George Burke, CEO of BookSwim.com, recently told BNet that his company even utilizes a strategy of seeking out young, experienced entrepreneurs.
"There are plenty of tech grads who don't know much about actually operating or marketing a website," he told the source. "So rather than look at their school credentials or class projects, I look to see if they have a real revenue-driving website that they have either helped build or helped manage."
Of course, it is still an employers' market and will likely be so for some time. Even so, business owners need to stay on top of trends so as to inform their own practices.