Indeed, the world’s leading job site and global hiring resource, has released research in conjunction with the Centre for Economics and Business Research (CEBR) revealing that when UK job vacancies remain unfilled for more than a month, they reach a “30 day tipping point” and are likely to remain unfilled for as long as 3 months.
The research examined the differences in recruitment timelines across 16 industries and 11 regions of the UK. It was revealed that on average, 49% of all UK job vacancies remain unfilled after 30 days, and 27% after 3 months, indicating 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.
Other key findings from the report:
* Across the 16 industries studied, construction had the greatest difficulty 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
* There is some variation in recruitment speeds across the UK, with Scotland having the lowest proportion of vacancies taking three months or more to fill, estimated at just 23%. This compares to the South East, which has the highest proportion at 28%
* Vacancies tend to remain open for longer in England compared to other UK countries
Indeed SVP Paul D’Arcy commented: “This research demonstrates that employers must keep a close eye on the time that it is taking to fill positions. We have identified a ‘tipping point’ of 30 days. 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 significant knock-on effect to the productivity of their business.”
“These delays can have serious consequences for businesses, potentially resulting in longer working hours and lower quality work as a result of staff shortages. This in turn can reduce morale and lead to higher staff turnover, ultimately raising hiring costs to the business further down the line.”