Wanted: Job Skills On The Loose

Many people have skills that are not utilized in the labor market. These "loose skills" can cause them to be unemployed or underemployed. Hiring managers can take advantage of these loose skills by filling a position with a person who might be more qualified for the job than anyone else applying for it.

In today's information-driven economy, many jobs require high levels of proficiency in computer programming languages, math and data analysis, reading comprehension, and social sciences like psychology and sociology. Employers often complain about a shortage of qualified applicants for IT and data analyst positions.

But employers tend to specify a degree or experience that's necessary for getting the job done, but not an education level or specific skill set required. Instead, employers want candidates to demonstrate that they can learn these things on the job.

Companies want employees who can apply skills in creative new ways to solve problems and make money. For example, someone with advanced Excel skills might be a candidate for an analyst position even if he doesn't have a college degree in math or economics.

Employers are aware of the effect that loose skills can have in the workplace and are willing to hire people with loose skills. In fact, a recent poll by CareerBuilder magazine found that 84 percent of employers said they would hire applicants with loose skills.

To take advantage of this opportunity, job seekers need to highlight their loose skills, and then demonstrate how their ability can translate into real-world uses in a business environment. Simply stating that you have these skills is not enough – you need to show hiring managers how you would use those abilities on the job.

At my company, Wemerge, one employee used his knowledge of psychology and linguistics to build an advanced algorithm for performing web searches.

He searched the web on a variety of topics, and then wrote an algorithm to generate a number of possible answers to each question. He factored in how long it took the computers to retrieve the answers, and also contemplated how likely they were to be correct. He demonstrated that he had this skill by writing computer code that could answer any question – which is much more than simply knowing how to search the web.

Another employee used his business degree to analyze corporate strategy documents for potential mergers or acquisitions of companies in different industries. His company's stock price would go up if a merger was proposed, and down if one wasn't.

He would find the most likely target companies to be acquired and then buy the stock of these companies. In this way, he was able to generate income from his knowledge of corporate finance.

So how can you make these loose skills pay off in real dollars? Here are three steps that you can take to get a job with your loose skills:

1. Don't settle for a job that doesn't utilize your skill set. Many college graduates accept lower-level positions in fields like accounting or human resources because they don't know how else to use their degrees in the workplace.

Don't be that person. If you are an accounting major who doesn't know the first thing about business management, then start looking for a job where you can utilize your skills in the field of business.

2. Apply for positions where your loose skills would have an immediate impact on company profits. If a company hires you to figure out whether it should buy another company, and that decision is ultimately driven by your analysis, then you will have made money for your employer (and yourself).

3. Don't just jump into a new career path without exploring all possible options, which includes applying for entry-level positions and low-pay, entry-level positions. If your loose skills make you a great candidate for a high-paying job, then make sure that you get an interview.

Although the economy is improving, there is still a shortage of qualified applicants for many jobs. Luckily, employers are willing to hire people with loose skills who can make them money. But the candidates must take advantage of this opportunity by highlighting their loose skills and demonstrating how they would use them on the job.