One in four jobs still open after two months
According Indeed’s hiring lab, a look into the global hiring market has revealed that a quarter of all job listings in America remain open and unmanned for more than two months. Compared to other countries like Russia, where it takes only two days to fill a position, that’s the longest wait for the highest proportion of positions in any country of the world.
And while this statistic may seem like a bad thing, it could turn out to be advantageous for job seekers.
One reason this is occurring: Employers and job seekers both are being more picky in their selections; with another Indeed study showing 49 percent of employers express frustration when finding the right candidate in the appropriate timeline.
Taking the economy into account
Another reason for this is that we are in a generally improving economy right now. When unemployment rates decline and people don’t feel financially obligated to accept the first job they are offered, that means the economy is at least performing, not failing.
Alternatively, in countries like Russia, where it only takes two days to fill a position, the economy is failing, resulting in people being desperate for jobs and rushing to take the first opportunity presented to them. So as the economy improves, job seekers can actually take their time and choose wisely, which is what we are seeing happen in the job market now.
Both of these reasons, are to the benefit of the job seeker. Employers taking more time to hire means they’ll be able to recognize the right candidate and hire you, before they hire someone who isn’t half as experienced in a rush. An improved economy means more opportunities for job seekers to pull from, and select.
It’s more than cash monies
With so many opportunities, employers’ only hope to decrease waiting times is to add value for the job seekers, and to meet their needs. That means simple cash incentives aren’t going to cut it anymore, and should be offered alongside flexibility, culture, and benefits. The sooner employers cater to those needs, the sooner they separate themselves from the competition and attract top talent.
So if you’re a job seeker, the current job market is made around you, waiting for you to make a move. But for businesses who don’t want to wait, the job market insists that you add value in order to decrease waiting times, and avoid job seekers looking elsewhere.
Either way, an improving economy is always good news, and will be an overall positive for job seekers and employers alike.