iCIMS, the talent cloud company, released the iCIMS Insights April Workforce Report revealing renewed optimism in the overall market, despite persistent challenges in the healthcare sector. Drawn from its proprietary database of employer and job seeker activity, iCIMS’ monthly workforce reports provide an exclusive look into the labor market, helping leaders and talent acquisition teams make more informed hiring decisions and drive business forward.
“Healthcare workers have arguably some of the most important jobs, but these roles are also some of the hardest to fill,” says Rhea Moss, global head of workforce and customer insights, iCIMS. “We’re making sure our health services customers are equipped with the latest market data and the right technology, to get candidates in the door faster.”
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The state of the talent market
- After pumping the brakes on hiring activity in February, employers showed renewed optimism in the market with the highest job opening volume since the beginning of last year. In March, job openings rose 18% since January 2022, a possible reaction to the surge in applications at the start of 2023.
- Job seeker activity increased, with application levels up 41% since January 2022, some of the highest levels seen since last year.
- Hirings are also making a slow return, up 10% since January 2022.
Help (still) wanted in healthcare
- Healthcare indicators mirrored the elevations seen in the overall market as health services applications (+31%), job openings (+16%) and hires (+11%) are all up from January 2022.
- Despite experiencing a pronounced growth in applications, iCIMS data shows the appetite for these roles is still weak. Application volume in the sector continues to lag and remains barely above pre-pandemic levels.
- Hiring challenges are more pronounced in nursing. Applicants per opening (APO) for nursing-specific roles remain consistently low, at approximately nine applicants per opening. This is almost half of the healthcare industry average.
- Despite the complex, multi-layered process to hire nurses, time to fill for nursing roles is on par with the overall labor market at 41 days, down from 48 days in January 2022. This could signify the sense of urgency to fill these roles as quickly as possible.
- In addition to looking for jobs on company career sites, when turning to job boards, 57% of health services job seekers use Indeed and more than a quarter (26%) use LinkedIn.
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Employers like Infirmary Health and ICON are leveraging text to engage more applicants and accelerate hiring for critical roles. This gives on-the-floor health services workers a quicker mobile experience and accommodates hectic schedules. Health services employers should also invest in internal mobility programs to help workers advance their careers and apply for new roles internally to improve retention.
Moss and other presenters will help talent acquisition leaders to break through the noise and better understand the state of the labor market at iCIMS INSPIRE. Register for the free event to join her session on May 9, live streamed from San Diego, CA for a deeper look at the latest employer and applicant trends and dispel labor market myths. INSPIRE will also feature talent leaders from healthcare organizations, and their approach to transforming the candidate experience to tackle talent acquisition.
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