The national average of time to fill an open position in June reached 24.9 working days, including the time to post, source, and hire. Compared to the recessionary period in the summer of 2009, the time to fill has increased by nearly ten days, when the average was 15.3.
During the recession the talent pool was overflowing with applicants. Hundreds of résumés flooded recruiters in response to a single job posting. The response left recruiters thinking they could be choosy and wait for the top talent to show, which generally during the recession worked. Now, other problems are factoring in to the long time-to-fill open positions, such as:
- Waiting too long to make an offer risks the loss of the top candidate.
- Unable to find skilled workers in the talent pool.
- Expecting no learning curve, thus fostering an unwillingness to accept candidates that may need only minimal training.
- There is simply more job openings, 4.7 million at the end of June, compared to 4 million in June, 2013.
Employers should examine recruitment and hiring processes to ensure they are streamlined and efficient and make changes wherever they find obstacles. Performing this self-audit will clearly define the company’s acceptable standards for recruitment and hiring and will help find and hire a solid, talented workforce quickly.
Source: Zappe, John. “Employers Find That Time-to-Fill Job Rates Are Growing, Hit 13 Year High.” Available here.