(CareerBuilder news release) Despite growing concerns over skills gaps and challenges posed by extended vacancies, only 38 percent of employers continuously recruit throughout the year for positions that may open up down the line, according to a new CareerBuilder survey.
According to a CareerBuilder news release:
The national survey was conducted online by Harris Poll, and included a representative sample of 2,201 hiring managers and human resources professionals across industries and company sizes.
Is building a talent pipeline worth it?
Among HR managers who don’t continuously recruit, the primary inhibitor is time (46 percent). Cost is only a prohibitive factor to 29 percent of this group.
Kelly Kudola, Americas recruiting manager for Kelly Services, a leader in providing workforce solutions, told CareerBuilder that lack of time shouldn’t stand in the way of continuous recruitment.
“Pipeline management and proactive recruiting will only save time in the back end,” she said. “There are so many more resources used in the reactive interviewing and screening process that our recruiters don’t have the time not to continuously recruit.”
Kelly Services uses CareerBuilder’s Talent Network solution as part of its continuous recruitment strategy, allowing prospective candidates to easily complete a profile and submit a resume regardless if there is an immediate opening suiting their skills and experience. Businesses often use the tool as a supplement to an internal career site and as a way to engage with prospective candidates before positions open.
Sixty-five percent of a subset of human resources managers who continuously recruit say the tactic shortened their time to hire; 54 percent said it lowered their cost per hire.
Bottom-Line impact of extended vacancies
Among a subset of employers who currently have open positions for which they cannot find qualified candidates, a vacancy will often take months to fill. Eighty-three percent of employers who currently have unfilled slots say vacancies remain open for two months or longer on average. More than one in five (22 percent) say those vacancies go unfilled for six months or longer on average.
“Extended vacancies hurt companies’ ability to grow, maintain productivity and keep existing employees engaged. One solution is to anticipate turnover in high-skilled positions and compile a network of able candidates waiting in the wings,” said Rosemary Haefner, vice president of human resources at CareerBuilder. “While it takes an investment, companies that continuously recruit and build a pipeline of talent are able to significantly reduce their cost and time to hire.”
The cost of extended vacancies can be very harmful to their companies’ performance.
• Lower morale due to employees shouldering heavier workloads – 41 percent
• Work does not get done – 40 percent
• Delays in delivery times – 34 percent
• Declines in customer service – 30 percent
• Lower quality of work due to employees being overworked – 30 percent
• Employees are less motivated – 29 percent
• Loss in revenue – 25 percent
• Employees making more mistakes resulting in lower quality of work – 25 percent
• Higher turnover because employees are overworked – 22 percent
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