Fill Vacancy within 30 Days or Face Waiting 3 Months
New research has been released which has found that when UK job vacancies remain unfilled for over a month, they reach a “30 day tipping point” and they are likely to remain unfilled for as long as three months.
The study looked at the differences in recruitment timelines across 16 industries and 11 regions of the UK. On average, it was found that 49% of all UK job vacancies remain unfilled after 30 days, and 27% after three months. This indicates that businesses that fail to recruit for positions successfully within the first month face a 56% chance that their vacancy will remain open for 3 months or more.
The findings have also highlighted that across the 16 industries, the construction industry had the greatest difficulty in finding the right people, with 36% of job openings in the sector still unfilled after three months. Positions in the administrative sector were the easiest to fill, with less than a fifth (18%) remaining advertised for longer than three months.
This research demonstrates that employers need to ensure to keep a close eye on the time it is taking to fill a position. If a position remains unfilled after the first month of it being advertised, it is highly likely that it will be vacant after three month which has a significant knock-on effect to the productivity of the business – such as having to work longer hours and producing a lower quality of work due to staff shortages. This in turn can reduce morale and lead to a higher staff turnover, ultimately raising hiring costs to the business further down the line.
Therefore, the faster you move in looking at CVs, arranging and carrying out interviews and deciding on a candidate, the less likely you are to experience this knock on effect and the more likely you are to fill the vacancy within good time.