The year 2025 is going to be an interesting time in the workplace across all industries. We believe that companies will continue to see qualified labor shortages as candidates are being thoughtful and selective when considering the next move in their career. 2024 saw compensation, relocation, work-life balance, meaningful work, and remote or hybrid opportunities as key factors in their decisions, and we see this trend spilling into 2025.
The cost of a vacancy from an unfilled position is an expense that quietly erodes at a company's bottom line. A Harvard Business School study found that a person's value of productivity was typically three times their annual salary, depending on the length of vacancy. Contingency staffing is committed to helping our partners mitigate the cost of vacancies. According to a report by Corporate Navigators, here are some averages for Time to Fill in 2024:
IT: 41 Days Professional Services: 47 Days Engineering: 62 Days Energy: 67 Days
Seniority level is another factor in the cost of vacancy in 2024:
Entry Level: 30 Days Associate: 60 Days Mid-Senior: 70 Days Senior Level: 60 Days Director: 90 Days Executive: 120 Days
Contingency Staffing understands that time is money, and we take that responsibility seriously. Our focus is 100% on our clients' needs and satisfaction. Contingency Staffing realizes that our reputation is only as good as the success and satisfaction of our valued partners. Your budget is important, and our goal is to help you keep your cost of vacancy losses minimal.
CONTINGENCY STAFFING Partnering with clients across the United States and Canada