Asking for the Moon?

In the latest verse of the "jobs are going begging" tune, CareerBuilder said one of its surveys found that 48 percent of accounting and finance employers have current openings for which they can't find a qualified candidate.

But even while HR types publicly bemoan the tight labor market, recruiters privately tell us that employers themselves often choose to let jobs go begging. Inboxes may be chock-a-block with resumes that look like great fits. But with hiring managers demanding "walk-on-water" candidates for even junior-level openings, these assignments too often turn into revolving doors for both recruiter and applicant.

A local division director for a nationwide recruiting firm laid out this scenario: An employer posts an opening and gets two good candidates after three weeks. Emboldened by the strong response, the hiring manager raises the stakes. He or she holds back from making an offer, thinking, "If we wait a bit, maybe we can do better."

The two applicants accept offers elsewhere. After several more weeks another candidate shows up. While solid, this one isn't quite as strong as the first two. The hiring manager says, "We’re certainly not going to settle for someone who isn't as good as applicants we already rejected."

Next thing you know, the job has been posted for six months. By that point, the recruiter says, most qualified candidates will think something must be wrong with the job and/or the employer.

Is this an analog of the old Wall Street adage, "Bulls and bears can make money, but not pigs?" Maybe. But employers can cite valid reasons for demanding perfection, even at the cost of letting qualified candidates slip away.

Start with the ever-present risk that they might hire the wrong person - a mistake whose costs are greater than ever, from what we hear. What's more, there is at least some belief that today's robust economic and market conditions could reverse within 12 months. If the role that's open isn’t critical, both HR officers and hiring managers may be inclined to make do with less and work their present staff a little harder, rather than fill a slot that might vanish from the budget next year or the year after.