Cost to fill jobs rising

May 6, 2010

Part of the reason the cost to fill a job position has risen this year is what SHRM, Society for Human resource management calls the Baby Boomer retirement wave. As stated in SHRM’s 2008 Workplace Forecast, ” Employers will somehow need to replace the knowledge and skills of the departing Baby Boomers as the loss of this generation of workers represents a future potential staffing challenge of major proportions that is already beginning to be felt. Perhaps because the beginning of the retirement wave is now officially under way, this issue has moved up the list of top trends from previous years’ surveys and is now considered by HR professionals to be one of the most important overall trends to influence the workplace…”The kinds of skill sets needed to replace the departing Boomers aren’t easily found on campuses or job boards. These men and women have decades of experience and expertise. Replacing them is an exacting, time-consuming chore. As the proportion of these kinds of job openings increases, the cost to fill them will as well. This trend is further verified by CareerXroads Annual Source of Hire Study. Based on analysis of more than 300,000 job positions supplied by 45 large corporations (5,000) employees or more), results this year showed that three out of every five external job openings were for “exempt-level” employees.

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