Why are Unicorns Slower to Fill Jobs?
While we can’t say with 100% certainty why job duration is longer for unicorn companies than others, we would offer the following speculations. First, unicorn companies are, as a rule, young, and startup culture is not known for stellar HR and recruiting functions. Without an all-star team of recruiters, jobs at these startups may go unfilled while higher-ups are preoccupied with matters that distract from reviewing resumes.
Another possible explanation for the increased duration of job listings is that the jobs themselves are more specialized for unicorns, and are therefore harder to fill. It could also be true that because unicorns are new to the market and don’t have long track records as employers, job seekers are more likely to choose to work for more established companies, if given the choice.
While a longer job posting duration is not inherently a bad thing, it could indicate that unicorns, which are heavily tech-focused, may be the most starved for top talent. In a future post, we will look into job duration for top tech companies over time to test this hypothesis.
With 2017 going out on an anticlimactic note for blockbuster IPOs, it will be fascinating to watch what 2018 brings for the growing list of idle unicorns. Perhaps 2018 will be the year of the unicorn IPO, causing everyone to wonder what it will take to get investors to pony up once again.