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HRO Today – October 11, 2017

By Amber Hyatt

Recently, it has been said that it’s a candidate’s job market with the competition for talent fiercer than ever. Consider these statistics:

• As of February 2017, there were 5.7 million job openings.

• As of April 2017, the Bureau of Labor Statistics reported the voluntary quit rate at 3.1 million.

• As of February 2017, DHI Group reported U.S. Jobs Mean Vacancy Duration was 27.8 working days .

• Mercer’s Talent Trends report found that 92 percent of employers expected an increase in competition for talent in 2017.

In a nutshell, U.S. companies have more job vacancies that are taking longer to fill due to increased competition. And when those vacancies are eventually filled, employees are leaving those jobs voluntarily at a high rate. Clearly, modern job seekers view their interactions with a company—from recruitment to exit interview—as a single integrated experience, and organizations need to adopt an approach that delivers a compelling and connected experience.

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