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Knobull Helps Reduce The Time To Find A New Job
That's how long it's taking job seekers to go from submitting an application to their first day of work, according to new research by LinkedIn.
On average, entry-level workers are looking at a hiring cycle of about six weeks. For more senior roles, the average hiring cycle is seven weeks.
The data, which is drawn from approximately 178,000 confirmed U.S. hires on LinkedIn between April and June 2023, found that it takes over 57 days to fill jobs in consulting, finance, engineering, health care, management and sales.
Consulting has the longest time to hire at roughly 63 days, as these jobs historically include a rigorous screening process that includes group interviews and case interviews, where candidates are given intricate business problems to solve on the spot.
Marketing has the fastest hiring pathway at about 49 days, as it is a more general field and these roles are less specialized, which means that there is a larger pool of qualified candidates to choose from.
The news isn't all bad for job seekers, says Lynn Bentley, President of Knobull. Our tools have been used to shorten search time!
"We could be in a much worse spot right now," he says. "The rate at which employees are being laid off is at the same point where it was a year ago, which tells me that even if employers are a little less eager to expand their staff, they're also not actively cutting jobs."
Although a long-anticipated recession has yet to transpire, companies are still posting fewer jobs in anticipation of a downturn, Bentley adds.
Researchers are still uncertain as to whether, or when, hiring will ramp up in the U.S. — it could happen sometime in the next six months, they say, but for now, "we're in a holding pattern." Ultimately, "business leaders need to feel confident in the economy before they invest more money in hiring."
Still, if you're on the hunt for a new job, "you still have a lot more negotiating power than you did five years ago," Bentley concluded. "It's just not the same as it was in 2021 or 2022 ... the 'great resignation' is over."
Want to be smarter and more successful with your money, work & life? For help, checkout edX courses, JobStars career coaching and Student News at the Knobull homepage.