Wolf here: occasionally I highlight comments that add a different angle or flavor or an illustration or more depth to an article published on Wolf Street. This comment by Duke is a personal perspective in response to Startup CEO (Unwittingly) Explains Biggest Problem in America’s Unemployment Crisis.
Rebekah Campbell, CEO of a startup called Posse, explained that you must have a job to even be considered for a job – to heck with active job seekers and the unemployed. She described the cheap, universally available tools that allowed her to eliminate the unemployed from consideration.
I’d hate to admit it but Rebekah’s story reflects the reality…
I was unemployed and underemployed for 2 years (2009 – 2011) after a stint at a biotech start-up which was not acquired and didn’t even receive a decent partnership offer from large pharma companies (countless DD) due to the dubious drug in joke clinical trials. We even pulled out of IPO 2 days before trading date in 2007 due to lack of interest.
I barely got by as consultant for a small company client that paid late. I must have applied to 200+ jobs as my goal 1st year out of work. I had interviews but also found out that I was over-qualified and frankly maybe perceived as threat to hiring managers. I see this at work now as other hiring managers pass over qualified and competent candidates over “fear.” Only the competent and “secure” managers seem not to mind hiring the A-class talents.
I work for a very large biotech company and also worked for large medical device and “once largest” software company. I’m getting a lot of unsolicited inquiries thru Linkedin from recruiter poachers. It seems like they are the arms-length independent contractors hired by HR departments. Companies are targeting those who are employed. We also give names of people we like at 1st tier suppliers so that recruiters can poach them.
This is indeed bad news for those older and qualified candidates who have been out of work for some time. I was there once and really saddens me as those 2 years were the darkest moments of my life, and it affected my family greatly with my kids seeing their once proud dad shrivel, and even my wife beginning to question my ability and resorting to part time work (she always stayed home) to get by.
Duke then added a second comment: