Job openings may have jumped 85% between Q1 and Q3 2021 but new hire conversions are at a dismal rate (8%), according to an October 2021 audit by talent cloud system iCIMS.
Researchers at the recruiting and applicant tracking company found that potential hires are especially dragging their feet on part-time jobs and low-wage positions. For example, applications sent to part-time jobs fell by 38%. In comparison, applications to full-time positions rose by 9%.
This iCIMS report provides additional labor insights regarding the retail industry. The Q3 application rate in the field is 14% lower than January 2021 levels.
The bottom line is that despite the perceived labor shortage companies remain thirsty for hires. Researchers have continually confirmed this as Q4 2021 kicks into gear.
ManpowerGroup’s 2021 employment outlook report indicated that U.S. companies were the most earnest they had ever been about hiring since the firm started gathering data in 1962.
Both white-collar and blue-collar industries topped the list of sectors predicted to grow in Q4. Notably, wholesale and retail trade companies are slated to grow their workforce by 49%. The new iCIMS study corroborates this outcome, reporting that retailers will be entrenched in a holiday recruiting crunch this year.
On the subject of seasonal hiring, Challenger, Gray & Christmas predicted that retailers will scoop up 700,000 new staffers to accommodate the holiday rush. On top of “competitive” pay and flexible scheduling, career development opportunities, sign-on bonuses, and tuition assistance are just a few of the perks employers — like Belk, Target, and Walmart — are touting.