A vacancy is a position in a company that is open for employment. These job vacancies may be advertised in a free classified ador could be put on some paid forum. These vacancies may be created in companies, in government organizations or in non-profit organizations that do not have a current occupant. Vacancies provide an opportunity for outside applicants to go through the recruitment process with the employer. These vacancies may also be filled internally by promoting people from within the organization. Sometimes it can be a combination of both external and internal applicants.
What creates vacancies?
The most usual manner in which a vacancy is created is when some current employee leavestheir position because of resignation, termination, promotion or demotion. Promotions are often the events that cause a flurry of vacancies as the internal employees of the company are usually promoted one after the other down the whole hierarchy. It may also be the case where demotion of one individual may cause result in the promotion of some other employee. Terminations can also result in a series of promotions if the generated vacancy happened to be a management position. Sometimes companies just create new positions within their teams, this also results in vacancies being created, both for internal and external candidates.
How are the vacancies filled?
There can be different kinds of selection processes for different kinds of positions. Bigger organizations typically have their processes cast in stone, and they have to be followed to the word. Selection processes in government organizations are always made very formal in order to ensure that all parties involved in the process of hiring feel that the process is fair. The reason such rigid processes are applied by the organizations is so that they can withstand any scrutiny from outside parties.
The Concept of Full-Time Equivalent
Job vacancies are not the same animals as full-time equivalents. FTE is actually a measure of how many people are employed by a company, assuming that all the employees are working on a full-time schedule. It is put to use while defining some labour laws and health care laws. An employer who has fewer FTEs is often provided with special considerations and exemptions. A vacancy is sometimes also known by the following terms:
- opening
- open position
- job opening
- vacant positions
Job Vacancies
Some Examples to Bring the Point Home
Let us say that the CEO of a company retires. This would result in a vacancy being created at the top of the company. A free classified is put in newspapers and online to advertise the vacancy. After a long hiring process, the board of directors of the company promotes the CFO of the company to the CEO position. As you can well see, one of the traits of this organization is its inclination to promote people from within, so this leads to the director of the accounting department becoming the CFO after a few selection processes. The manager of accounts payable now becomes the accounting director, and someone from the payable accountants becomes the manager of accounts payable. Then someone from outside is hired in the position of accounts payable accountant. As a chain reaction to the CEO leaving, this company had to go through the filling of 5 vacancies.
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