Average hiring time stretches to 44 days in Q1 2023
CALIFORNIA, UNITED STATES — New research revealed that the average time to fill a vacant job in any industry reached 44 days during the first quarter of 2023, marking a rise of one day from the previous year.
The study by human capital advisory firm The Josh Bersin Company and global talent solutions business AMS highlighted the ongoing challenges in global talent acquisition as hiring times for nearly all roles continue to surge.
Data revealed that hiring time varies across sectors, with some jobs filled in as quickly as 14 days while others remain vacant for up to three months.
Industries like Energy & Defense and Professional Services face the brunt of this escalating trend due to the specialized nature of their roles and a limited talent pool. These sectors witnessed an above-average hiring time of 67 and 47 days, respectively.
Meanwhile, regional data showed that the situation is likely to worsen by year-end, with longer hiring times projected for Asia Pacific (APAC), Europe, Middle East, and Africa (EMEA), and Latin America (LATAM).
AMS Global Managing Director of Client Operations Jim Sykes said the hiring market is “not going to get easier any time soon.”
To cope with this, Sykes advised HR and talent leaders to continue innovating and transforming their strategies for acquiring, developing, and retaining talent.
“This report will give a perspective as to how those leaders are faring today against their competitors,” he added.
