Job postings less likely to be filled the longer they stay up
For recruiters, competition for talented workers is among the most serious challenges they face. That's why so many invest in recruitment software and other productivity developments in order to give them the best chance at securing the right staff.
However, new research has suggested that even as the competition for top talent increases, many job applications are still going unfilled.
The study, conducted by the online job board Indeed and the Centre for Economics and Business Research, gives some vital insights into the trends that are affecting job listing performance across the world.
According to the research, the longer a job position goes unfilled, the harder it becomes to fill it. In fact, if a job position isn't filled after the first month, there is a 44 per cent chance that it will still be unfilled after three months.
The good news is that the majority of job listings are filled after a month, with only 28 per cent of positions still listed after this time.
Senior Vice President at Indeed, Paul D'Arcy, suggested that 30 days represented a significant marker in job listing performance.
"This research demonstrates that employers must keep a close eye on the time taken to fill positions. We have identified a 'tipping point' of 30 days," he said.
"If a position remains unfilled after the first month of it being advertised, it is highly likely that the employer will struggle to fill this role within three months – meaning a potentially negative impact to the productivity of their business."
By sector, the hospitality industry has the most trouble attracting staff members, with 22 per cent of job listings still unfilled after three months. On the other hand, education is the least difficult.
With this research giving new insights into how job advertisements perform over time, businesses will need to be sure they have the right processes in place to attract and retain valuable workers.