Title: How Long Does it Take to Get Hired in 2023? Job Seekers May Face Longer Waits
Looking for a job in 2023? Be prepared for a potentially prolonged hiring process. According to a recent report on hiring trends by HR firms The Josh Bersin Company and AMS, the average time it takes for a company to fill an open position has reached an all-time high. On average, it now takes 44 days for a company to complete the hiring cycle, one day longer than last year.
The report also highlights that easy to fill positions can take 14 days to fill, whereas difficult to fill roles may remain unfilled for two to three months. This extended wait time suggests that companies are struggling to find qualified candidates who possess the emerging skills required in today’s uncertain economy, as noted by Janet Mertens, the Senior Vice President of Research at Josh Bersin Company.
Josh Bersin, CEO of the Josh Bersin Company, further emphasizes that the current market faces a misalignment between the skills available and the skills needed to fill job openings. This imbalance complicates the hiring process, impacting both businesses and job seekers.
Different industries have varying time-to-hire rates. Sectors such as energy and defense have the longest time to hire, with an average of 67 days. Investment banking follows closely, taking up to 60 days to fill positions, while professional services has an average time to hire of 47 days.
Conversely, the retail and consumer industry tends to have shorter hiring cycles, while the tech and media sectors take approximately 20 days to hire new employees.
The research findings suggest that businesses need to expedite their hiring processes in order to remain competitive in today’s fast-paced environment. The current extended time-to-hire rates are deemed unsustainable, hindering companies’ ability to keep up with the rapidly changing needs of their respective industries.
These longer wait times occur as job seekers face additional challenges in the job market, such as mass layoffs, AI-powered hiring systems, and the rise of ghost jobs – open roles that are posted with no intention of being filled.
Moreover, companies have become more selective in their hiring decisions across various sectors, including tech, healthcare, and education. They now actively seek candidates with expertise in ChatGPT, further narrowing the pool of potential hires.
Job candidates have expressed frustration with the prolonged recruitment process. Ayomi Samaraweera, who underwent nine rounds of interviews for a role, described the experience as draining. The company took over four weeks to respond, only to inform her later that she did not get the job.
Megan Burr, a marketing professional, shared her disappointment after being ghosted by a company following nine rounds of interviews for an open marketing role. She described the process as excessive and questioned the business perspective behind it.
Some candidates have invested significant amounts of time in interview processes, spending up to 20 hours for a single interview. The length of the process raises concerns about the efficiency of businesses from a candidate’s perspective.
Amidst these challenges, job seekers must remain patient and adapt to the changing dynamics of the job market. Employers, on the other hand, should strive to streamline their hiring processes to accommodate the needs of both candidates and their own industries.
In conclusion, as the average time-to-hire rate continues to rise in 2023, job seekers should be prepared to face longer waits before securing a new role. Companies are struggling to find candidates with the necessary skills in today’s evolving economy, leading to extended hiring cycles. It is crucial for businesses to enhance their recruitment strategies to maintain a competitive edge and promptly meet the industry’s changing demands.
