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.
“Surprisingly, small firms attract about the same number of applicants per vacancy as large firms, according to our analysis of the DHI Database” said Dr. Steven Davis, William H. Abbott Professor of International Business and Economics at the University of Chicago Booth School of Business. “And small firms achieve comparable application numbers with shorter vacancy posting durations.” Davis is a co-developer of the DHI Database and co-creator of the DHI-DFH Mean Vacancy Duration Measure and Recruiting Intensity Index.
“Turnover has been at record levels this year for healthcare and technology, indicating that professionals in those industries are confident in their career opportunities even amidst broader uncertainty in the market driven by the results of the U.S. election," said Michael Durney, President and CEO of DHI Group, Inc. “As the time to hire professionals grows and more uncertainty creeps in, employers are tasked with offering attractive benefits and compensation to fill open roles and secure top talent."