Keep the Machine Running

Interim professionals can fill open positions during permanent replacement searches

By Mark Viner

In some sectors, we are at the lowest unemployment levels in about 50 years. Deciphering the exact percentages for certain fields is difficult because the U.S. Bureau of Labor Statistics measures  unemployment by the total number of people in the workforce. 

In 2016, the overall unemployment rate ranged between 4.6 percent and 5 percent, which made for the lowest one-year range since 2001 and among the lowest since the mid-1970s. However, some areas during the past three years or so are believed to be far less than overall. Four of these areas include experienced (at least eight years’ experience) positions in accounting, finance, human resources and information technology. Most employers believe unemployment for those positions is less than 1 percent.

Operating a company during periods of extremely low unemployment in critical departments can be challenging. When an employee in an important position leaves a company during periods of low unemployment, it can take three months or longer to find the right replacement. Meanwhile, the company can suffer a lack of production from the empty seat and/or subject the remaining employees to additional workload and stress until a replacement is hired.

One way companies address the challenge of an open position is by hiring dedicated interim professionals to fill the job while the permanent search takes place. There is a meaningful collection of experienced workers—particularly within the accounting, finance, HR and IT sectors—who choose to do interim work on a full-time basis. Typically, they are employees of professional search and staffing firms who focus their talents on helping clients manage the change of an employee departure.

Using dedicated project professionals to fill open positions also means companies don’t have to rush permanent hires, allowing them to stay focused in the recruiting process. Often, companies that rush their hires make bad choices that complicate their circumstances. Bad hires not only are costly to employers, but they also can lengthen the duration of stress and increased workload on the remaining staff. This can hurt morale and cause inefficiency in production—and possibly more employee departures.

Hiring employees in key departments during a period of low unemployment can be challenging and time-consuming. Losing employees during periods of low unemployment can be frustrating. Fortunately, businesses have a cost-effective solution to navigate these rough waters and help ensure the machine keeps running.

Mark Viner is president of the interim resources division for StevenDouglas. Contact him at mviner@stevendouglas.com or 954.385.8595.

You May Also Like
Real Estate Company Secures Four Law Firm Office Leases in Boca Raton

The offices are at the Eighteen Zero One and Boca Corporate Plaza buildings.

Read More
Office Leases in Boca Raton
Get Ready to Haggle If You Want a Buyer’s Real Estate Agent

Lawsuits are claiming that the commissions paid to the buyer’s agents shouldn’t be dictated by the Multiple Listing Service.

Read More
Real Estate Agent
Hard Work Pays Off

A food empire is growing in South Florida because of Mike Linder’s focus on food and service and a twist on locations.

Read More
One of the World’s Richest Women Makes a Major Gift

West Palm Beach is poised to establish a core of top-rated medical centers.

Read More
Other Posts
An Unknown Side of Cancun: Enjoy a Luxurious Stay at the JW Marriott Resort and Spa and Bring Your Taste for Adventure

Treat yourself to luxury, relaxation and unforgettable experiences at this fantastic resort.

Read More
Steiger Facial Plastic Surgery Offers Pamper Mom Facial Special

The offering is available through May 31.

Read More
NAIOP South Florida Appoints Officers, Executive Board and Board of Directors for 2022

NAIOP South Florida, a Commercial Real Estate Development Association offering advocacy, education and business opportunities to its members, has announced the following officers for the 2022 Board of Directors: President:

Read More
Pride Week Festival Begins With Tribute to Pulse Nightclub Survivor

Miami Beach Pride’s week-long festivities will commence with a special tribute to the LGBTQ+ community honoring the victims of the tragic shooting at Pulse Nightclub in Orlando. A ceremonial “flip

Read More