As the economy continues to bounce back from the Great Recession, time to hire is increasing, and more companies are looking to staffing agencies to fill open positions. As a result, the need for best-in-class staffing software will only grow.
According to data cited by ERE.net, time to fill is once more on the rise. The Dice-DFH Mean Vacancy Duration Measure, which gauges how long it takes for employers to fill jobs, determined the average is now 25.7 working days.
This is great news for job seekers and employers, because it implies the economy is growing again.
“U.S. labor markets continue to tighten, albeit at a modest pace,” Dr. Steven Davis, William H. Abbott professor of International Business and Economics at the University of Chicago Booth School of Business, and co-creator of the vacancy measure, was quoted as saying by ERE.net. “Evidence of labor market tightening is seen in rising vacancy durations and declining unemployment rates.”
While increased time to hire is a good sign for the economy, it can be a struggle for some industries to find the right talent. The best candidates are already tied up in other organizations, or are simply harder to reach. This could be the reason why more companies are turning to staffing agencies to fill openings.
The rise in staffing
A new report from analytics company WANTED Technologies found that organizations are using staffing agencies to fill nursing and IT positions, including application software developers and Web developers, according to a press release from the company. Staffing agencies recruited 25 percent more registered nurses in 2014 than in previous years. IT positions accounted for 70 percent of those identified as high volume for staffing agencies.
Staffing agencies have a definite advantage in this current market. Unlike on-site recruiters, agencies have the benefit of being able to work quickly and reduce the time to hire many companies experience. As more companies turn to staffing agencies for their talent needs, the staffing environment could become more competitive as well. How can agencies set themselves apart?
Companies turn to staffing agencies to fill positions because they lack the time or expertise to do it themselves. Staffing agencies can remain competitive by investing in tools that can help them improve on both of these skills: being speedy and matching the right talent to the right company. The right staffing software can make a big difference in the ability to fill positions quickly. Consider implementing a solution that combines applicant tracking and client relationship management in one.
A software platform that connects CRM with applicant tracking makes it easier for staffing agencies to see what talent is needed and follow up with candidates that have the necessary skills. Furthermore, this type of staffing software gives agencies a big picture view of the talent landscape that can allow them to be strategic in recruiting job seekers and maintaining their information for future positions.
Staffing agencies don’t always need to find the right person for a current opening. When they can see which skills are highly desired, they can start recruiting ahead of time so they can fill openings even more quickly.
Jobscience | Beyond the Applicant Tracking System