According to a new CareerBuilder survey, 38 percent of U.S. companies say they have experienced negative implications from extended job vacancies, citing less effective business performance, lower quality work, lower morale and higher employee turnover.
When asked about specific losses, 41 percent of those companies have noticed decreased productivity, 21 percent have experienced lost revenue and 22 percent say it is hindering their business’ growth efforts.
These findings underscore the need for employers to proactively work toward bridging the skills gap in their own organizations in order to counteract the “adverse ripple effect” – as CareerBuilder CEO Matt Ferguson puts it – that hinders job creation, company performance and economic expansion. According to Ferguson:
“The study underlines how critical it is for the government, private sector and educational institutions to work together to prepare and reskill workers for opportunities that can help move the needle on employment and economic growth.”