Job Vacancies Are Crushing Revenue and Morale
Lean-mean budget tightening for staffing is taking a heavy toll on organizational performance. Many employers now acknowledge that job vacancies are creating a decline in both the quality of work and revenue, according to a recent survey from CareerBuilder. And companies may have to deal with this for an extended period because hiring companies can't fill positions—even if they're authorized to do so—due to a significant lack of qualified, skilled job candidates. Ultimately, the findings convey a double-edged sword that may cripple prospects for an economic rebound anytime soon. "If we want to see more positive movement in the U.S. market, we have to do a better job of realigning the skills of our labor force with positions that are in high demand," says Matt Ferguson, CEO of CareerBuilder. "Prolonged vacancies can result in lower-quality work, lower sales and morale, and can cause a delay in creating other related positions within the organization." More than 1,640 U.S. hiring managers, HR professionals and 2,030 job seekers took part in the research.