“Many vacancy postings for skill-intensive jobs draw few applicants, in line with employer claims that talent is scarce,” said Dr. Steven Davis, Chicago Booth professor and Senior Fellow at the Hoover Institution. “Yet the typical jobseeker competes with many, many rivals for desired jobs. The upshot is that labor markets are both tight (for employers) and slack (for workers) at the same time.” Davis is a co-developer of the DHI Database and co-creator of the DHI-DFH Mean Vacancy Duration Measure, the Recruiting Intensity Index and the DHI skill-level measures of labor market tightness.
“It’s a really interesting time in tech recruiting right now. Tech professionals are highly sought after by companies across industries and difficulty finding skilled talent is slowing down hiring, as evidenced by it taking longer to fill roles,” said Michael Durney, President and CEO of DHI Group, Inc. “Companies are also tasked with offering unique benefits and competitive salaries, while also keeping diversity initiatives top of mind. Companies who constantly nurture their employer brand and consider the overall work environment will be in a better position to hire the best talent.”
The duration measure reflects the vacancy concept in the Job Openings and Labor Turnover Survey (JOLTS). Specifically, a job opening gets “filled” according to JOLTS when a job offer for the open position is accepted. So the DHI-DFH vacancy duration statistics refer to the average length of time required to fill open positions.Typically, there is also a lag between the fill date and the new hire's start date on the new job.