Costs of the skilled labour shortage

Job vacancies are remaining unfilled for longer periods of time. As an example, there are fewer and fewer workers who are applying for vacancies in trades, the restaurant industry, or IT professions. The absence of employees leads to direct and indirect expenses as orders cannot be processed, existing staff members become overloaded, the recruitment process be­comes time-consuming, and/or quality standards cannot be maintained. The costs of vacancies and turnover are calculated at up to three times the cost of an unfilled position. The use of temporary workers is often necessary but expensive. Particularly in rural areas, the shortage of personnel leads to considerable decreases in turnover and profit.