‘Chief monster’ says jobs market is in transition
Jeffrey Taylor, who practically launched online job-searching with Monster.com a decade ago, says it’s going to remain a tough market for labor for about five more years.
Then, he expects job seekers to regain the upper hand.
“There’s a transition taking place,” said Taylor, chief monster (his actual title). “I think we’ll be in the worst labor shortage of our lifetime beginning in 2008.”
Taylor, 42, believes in about five years will come the kind of “free-agent mentality” that typified much of the 1990s. He says it will stem from old boomers exiting the work force and from a broader skill set among those still working.
Monster launched its now-famous Web site for job seekers in 1993, beginning with about 150,000 job postings. Today, the Internet site boasts more than 1 million job ads and a database of about 26 million resumes. Monster currently operates in 19 countries
Taylor spoke by telephone from Massachusetts on Friday before appearing at the Pittsburgh Human Resources Association’s annual convention at the David L. Lawrence Convention Center on Oct. 8 and 9.
“Today, you have a high supply (of labor), which means employers have more choices,” he said. “Companies are also cutting costs, so they are clearing out people who aren’t contributing and upgrading talent at the same time.”
Currently on a multicity speaking tour, Taylor is telling job seekers that even in this down market, there are positions available.
“But it’s competitive, and you need more-realistic expectations about how much time it will take to find a job,” he said.