27% of companies hire when no vacancy exists

December 18, 2013

hired 27% of companies hire when no vacancy exists

Many companies hire even when not hiring

Job hunters and entrepreneurs alike should take note – a new study reveals that employers hire frequently, even when no position is available. A full 27 percent of all establishments tracked by the Bureau of Labor and Statistics (BLS) hire having never recorded a vacancy.

bar 27% of companies hire when no vacancy exists
Entrepreneurs and other business decision makers should take note that competitors are snapping up talent even when no vacancy exists, are you?

Job hunters, just because there’s a “no vacancy” sign on the door, if there is a brand you truly want to be a part of, get your foot in the door. Network, mingle, connect online, do what it takes to get in front of the decision makers, not by ramming your resume down their throat, but by being top of mind and making it clear that you’re on the hunt.

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The faster the hire, the faster the turnover rate

The study also reveals that companies that are constantly hiring and doing so at a rapid pace coincides with a higher turnover rate. Companies that respond to an application immediately are more likely to be the same companies bleeding employees.

Regarding speed, the researchers found that the construction industry fills openings the fastest, followed by retailers, leisure and hospitality, and transportation companies. On the opposite end of the spectrum, health and education, government, and finance took the longest to hire, often taking over a month to fill the open positions.

The report notes that “some industries are subject to laws and regulations requiring formal search processes, while others survive on constantly filling short-term positions.”

So keep your eyes open

Employers, it’s okay to bring on new talent even when you weren’t planning on doing so – others are doing it, and when you come across unbelievable talent, you’d better snap them up now before it’s too late, because your competitor might, even if they have no vacancies either.

Job hunters, get out to networking or social events and put yourself out there, but also take it an extra step and connect with decision makers on Twitter and get to know the brand through their company account.

Marti Trewe reports on business and technology news, chasing his passion for helping entrepreneurs and small businesses to stay well informed in the fast paced 140-character world. Marti rarely sleeps and thrives on reader news tips, especially about startups and big moves in leadership.

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