It currently takes an average of 31 days to fill a position vacancy in the United States, according to a recent report by Deutsche Bank. This is the longest span ever, contrasted against 15 days to fill a job in 2009. As if to confirm the report, the National Federation of Independent Business (NFIB) recently said 85 percent of employers claim to have few or no qualified applicants. Additionally, the NFIB reported earlier this year that 33 percent of small businesses could not fill a job vacancy from the previous month.
Experts pointed out that wages might be a contributing factor in the “tight” labor market. Some employers have quickly filled positions with qualified candidates simply by offering better wages. To discuss strategies for strengthening your recruitment efforts, please contact your Employers Select Insurance Services representative.