The Problem

The Problem

Small & Medium sized businesses are losing the “Talent War”

  • Unemployment is at historical lows, so there is a ‘supply’ shortage of qualified candidates
  • 62% of SMB’s find it “Difficult” or “Very Difficult” to find the right employees
  • 51% of SMB’s state that they “cannot find quality applicants”
  • SMB’s already pay higher compensation for similar roles but report planning to increase wages again “to attract and retain qualified staff.”
  • Average cost-per-hire in USA is $4,129 overall, but over $7,600 for employers between 2 and 500 employees – primarily due to the higher amount they have to pay for recruiting and the additional time of vacancies
  • It takes an average of 42 days to fill job opening, unless you’re an employer under 500, then it takes over 60 days.
  • 75% of businesses report using job board advertising, and this activity eats up 70% of total recruiting budget for SMB’s
  • Large Enterprises report using up to 24 different recruiting technologies and robust Applicant Tracking Software in order to have a professional brand image and ability to search and mine large resume database for candidates

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