Staffing Industry Trends: Employers Take Time Filling Positions

Staffing Industry Trends Employers Take Time Filling Positions

Staffing Industry Trends: Employers Take Time Filling Positions 

Newly released data from economists at the University of Chicago indicates that U.S. employers are taking much longer to fill vacant positions than they have in recent years, and it is not because unemployment is down. According to recent reports, employers looking to hire take an average of 25 working days to fill an open position, which is a 13-year record high. In larger workplaces the length of time to fill a position is over 58 workdays. While countless reports of high job growth projections and low unemployment trends have catapulted into the media securing a job remain far from easy for millions of workers.

Traditionally, the length of time between employers advertising a job and having an offer accepted is a sign of economic strength. In a thriving economy, more job openings indicate less job seekers to fill open positions. This often correlates with a high employment rate and confidence in job security. But with nearly 10 million Americans currently unemployed the slowing would seem to have other causes.

Economists and employers identify no overlying cause for this trend, but rather many nuanced factors contributing to the overall slow pace of hiring. Some suggest that the hiring slowdown can be seen as a representation of over all corporate confidence in the still recovering American economy. It appears that many companies are feeling optimistic enough to post job openings; employment openings reportedly reached 4.7 million in June of this year. However, hesitation still lingers about whether or not the economy could falter again is causing many firm anxiety about hiring commitments. In turn many businesses are choosing to outsource or use staffing agencies to balance the risks of hiring on a new employee while feeling-out the economic climate. Others suggest that employers have become overly judgmental, picky or require extensive background investigations or credential verification processes.

The staffing industry faces challenge and risks unique to their niche services and profession. At World Wide Specialty Programs we specialize in ensuring that staffing industry members receive the best Staffing Industry Insurance coverage and a full spectrum of other solutions for staffing professionals, from workers comp to professional liability. For more information about all our offerings please give us a call today at (877) 256-0468.