Many changes have occurred in recent years because of the global health crisis. Furthermore, new technology is causing changes in new talent acquisition strategies and how potential applicants make job acceptance decisions.
Improving recruiters’ expertise in hiring and recruitment improves their sense of alignment in the business and recruitment strategy. Here is a comprehensive collection of recruitment and hiring data to give recruiters a massive competitive advantage.
Table of Contents
General Recruitment Statistics
- Improving the quality of hire (52%), enhancing retention rate (24%), improving time-to-hire (23%), developing the talent pipeline (22%), and diversity hiring are the top five most important recruiting priorities (22%).
- 80% of the top 100 revenue-generating recruitment firms have offices in numerous countries.
- 8 out of 10 recruiters do reference checks on prospects.
Employer Branding and Recruiting Statistics
- A company with a good reputation gets 50% more qualified applications.
- Before applying for a job, 86% of passive candidates research a company’s brand.
- Company diversity is crucial for 76% of job searchers.
- If a corporation had a negative image, 75% of Americans would not take the job.
- A strong employer brand lowers turnover by 28% and cuts recruitment costs by 50%.
Onboarding Statistics
- Improving the quality of hire (52%), enhancing retention rate (24%), improving time-to-hire (23%), developing the talent pipeline (22%), and diversity hiring are the top five most important recruiting priorities (22%).
- 80% of the top 100 revenue-generating recruitment firms have offices in numerous countries.
- 8 out of 10 recruiters do reference checks on prospects.
Salary and Benefits Statistics
- Almost half of those polled indicated they turned down a job offer because of a bad recruiting experience.
- Within six months, 31% of new hires have departed their new position.
- Recruiters allow 1 to 3 business days for applicant training, according to 36% of them.
Company Culture Statistics
- Job searchers are willing to give up to 12% of their annual compensation for more flexibility and training.
- Healthcare insurance (40%) is the most desired benefit, followed by vacation/paid time off (37%), performance bonus (35%), paid sick days (32%), 401k plan/retirement plan/or pension (31%), flexible schedule (30%), and office perks (19%).
- Company Culture directly affects the employee resignation percentage YoY.
Job Search Statistics
- Almost half of those polled indicated they turned down a job offer because of a bad recruiting experience.
- According to 64% of hiring managers, increased skill-testing is the main aspect of the recruitment process.
- According to 84 % of firm recruiters, culture fit has become a crucial element in hiring.
- Better corporate culture is the top reason for shifting jobs, according to one-quarter of respondents.
- A diverse staff is important to two-thirds of job searchers when picking a company.
- 72% of polled Americans said they would or might leave a company for one with a more inclusive culture.
Recruiting Process Statistics
- A rejected candidate who receives no feedback is twice as likely to never apply again or conduct business with the organization.
- A typical job posting receives 250 resumes. A candidate is 85 times more likely to get hired after being referred by a team member.
- When a team member is well-suited to their role, it has a good effect on team member engagement.
- It takes an average of 36 working days for a company to hire new employees.
- Companies that recruit frequently claim that it reduces their time to hire by 55%.
- In 2017, the average opening remained unfilled for 28.1 days.
- Recruiters spend a third of their week on average sourcing candidates.
Impact of COVID-19 on hiring
- Employees were hesitant to shift employment in the early days of the epidemic, resulting in a 47 % in applications across all industries.
- Travel and tourism, hotels, bars and restaurants, entertainment, conferences, trade exhibitions, and manufacturing were all affected by COVID in the United States.
- To speed up the recruitment process, 44% of organizations use publicly available data such as social media profiles.
- 51% of respondents felt a job posting with visual features like photographs or videos would make the organization more appealing.
- Candidates that specify a wage range will receive 75% more clicks than those who do not.
- The most desired soft skills, according to SHRM (Society for Human Resource Management), are reliability, teamwork, problem-solving, and flexibility.
- A job posting’s phrasing can also discourage minority candidates, according to SHRM.
Online Software for Recruitment
- BambooHR, SmartRecruiters, Workday, Submittable, and Greenhouse are the most popular applicant tracking systems.
- Recruitment software is used by almost 98 % of Fortune 500 organizations.
- According to 68% of recruiters investing in new recruiting technology is the best approach to boost recruiting performance.
- According to 94 % of HR experts, adopting recruiting software has improved their hiring process.
Artificial Intelligence for Recruitment
- 80% believe AI may assist boost human resource performance and productivity.
- Answering questions from potential recruits and offering information and training as part of the onboarding process are some of the ways AI may aid the recruitment process.
- And also, tracking team member development and acting as a personal assistant for scheduling, filing, and assessments are included in the recruitment process.
Chatbots for Recruiting
- When chatbots are deployed on job sites, 95% more job seekers become leads, 40% more job seekers complete an application, and 13% more job seekers click apply on a job posting.
- Applied and application status, benefits and remuneration, and job search are the most typical questions candidates ask chatbots about.
Social Recruiting Statistics
- Because more than three-quarters of job searchers utilize social media for their job search, if candidates don’t use it as part of their interview process, it could result in a large loss of potential hiring volume.
- The percentage of job seekers who use social media increases dramatically for young job seekers in their first ten years of employment, reaching more than 86%.
- Three-quarters of employees believe their companies do not promote their brand sufficiently on social media.
- Only 33% of companies in 15 global marketplaces encourage employees to utilize social media, which means that future employees are less likely to see positive things about the organization.
Challenges for Recruiters
- For 76% of recruiters, searching for the perfect candidates is the most challenging task.
- According to 41% of recruiters, entry-level roles are the most difficult to fill.
- Recruiters struggle to discover qualified applicants in 72.8%.
- Before being hired, top applicants are usually only available for ten days.
- 86% of the best prospects for a job opportunity are already employed and are not actively looking for new work.
- 46% of recruiters consider themselves to be recruitment marketing experts.
Workplace Culture Statistics
- Flexible work arrangements are important to 29% of men and 36% of women when considering a job.
- Women and minorities have experienced an increase in the number of new hires in 41% of organizations.
- Women currently account for close to 49% of worldwide labor force participation, while men account for 75%.
- Unemployment rates of women in Northern Africa and the Arab States surpass 16%.
- 70% of women want to work in paid occupations, regardless of their employment situation.
Leadership Statistics
- Every day, about 10,000 baby boomers leave the workforce.
- A staggering 79% of employees will leave their jobs due to a lack of leadership recognition.
- In the workplace, just 15% of women serve on boards of directors.
- Millennials will stay in their jobs for fewer than three years in 91% of cases.
- In 2019, 77% of businesses had leadership shortages.
- At all levels, 83% of employers believe that developing leaders is critical.
- Diversity Hiring Statistics
- Millennials are predicted to make up the majority of the working population by 2025.
- Before taking a job, 80% of millennials consider if they are a good fit for the corporate culture.
- Growth chances are considered one of the finest employment rewards by 60% of millennials.
- Companies with a diversified workforce outperform their sector median by 15%.
- Ethnically diverse companies perform 35% better.
Pre-Pandemic Global Workforce Statistics
- There were 7.9 million job opportunities at the start of 2020.
- There were 70% passive job seekers and 30% active job seekers in the worldwide workforce.
- Intelligence sourcing software will be purchased by 86% of businesses.
Pandemic Global Workforce Statistics
- Due to the global pandemic, unemployment in the European Union is anticipated to climb to 8.6% by the end of 2021.
- There was a 135% rise in remote job postings during COVID. The epidemic has resulted in a 12.8% increase in layoffs. Currently, 60% of businesses have put recruiting on hold.
- Talent Shortage and Candidate Sourcing Statistics
- In the United States, talent shortages have reached historic highs, with 69 percent of firms reporting difficulty filling positions.
- According to estimates, there will be a global human skill shortfall of around 85 million people by 2030.
Team Referral Statistics
- In the United States, talent shortages have reached historic highs, with 69% of firms reporting difficulty filling positions.
- According to estimates, there will be a global human skill shortfall of around 85 million people by 2030.
Internal Hiring Statistics
- Internal recruiting is used by 36% of firms.
- Internal hiring is 6 times more effective than external hiring.
- Internal hires are more likely to maintain organizational knowledge and get up to speed on their new responsibilities than external hires.
- In 2013, external candidates filled 66% of posts, while internal candidates filled 26%.
- External employment has the benefit of bringing in new ideas and skillsets to a company.
Remote Work Statistics
- 86% of employees want to work remotely at least part-time in the future.
- 90% of recruiting managers anticipate that remote work will continue in some form. According to 61% of recruiters, video interviews are expected to become the standard.
- 73% of hiring managers said they intend to hire more freelancers in the future.
Demographics Statistics
- Because people work later in life, the average work age is 42. The average working age is predicted to rise by nearly one year by 2030.
- During six years, 18 to 24-year-olds change occupations 5.7 times.
- On average, people aged 23 to 34 have 4.5 jobs.
Generations Statistics
- In 2021, Millennials and Gen Zers predicted to dominate the job-changing trend.
- One out of every four workers intends to change employment this year.
- In 2020, one in every five workers will change employment, with Gen Zers accounting for 33% and millennials accounting for 25%.
Bad Hire Costs Statistics
- Poor recruiting affects nearly three out of four businesses. Everyone failed to hire costs businesses $14,900 on average.
- A bad hire can cause a 32% decline in team member morale.
- A 36% loss in output can be attributed to bad hires.
Top Trends for the Future of Recruiting
For many job searchers, the recruiter is their first point of contact with an employer, making their work extremely valuable. Recruitment is undergoing several changes at the moment; here’s how it’s changing to suit changing demand.
Virtual Recruiting
According to a survey, 70% of organizations claimed that at least half of their recruiting and onboarding takes place virtually.
Remote Work
One-third of businesses say they’re open to hiring remote workers from anywhere in the world.
Automation
Human Resources Management Systems (HRMS) automate the candidate experience by assisting with resume management, interview scheduling, and candidate tracking.
Artificial Intelligence
AI technology can be used to discover applicants, assess resumes, and schedule interviews.
Chatbots
Chatbots can assist in the conversion of more applicants, which leads to an increasing number of candidates.
Predictive Analytics
Predictive analytics gives data to assist recruiters in making the best decisions possible.
Recruiters are also expanding their horizons by working on social media sites like Twitter, Facebook, Instagram, and others. Staffing software is another trending platform. It uses machine learning and AI to automate resume screening and shortlisting. It is currently being used by 32% of the recruiters.
Conclusion
The year 2020 threw the world into disarray, but the global hiring picture has improved in the past year. Facts, figures, and HR statistics can assist in putting recruitment into context. Users who understand the recruitment sector have an advantage in the job market, which is why it has supplied this collection of HR statistics. Here we discussed the top recruitment-related statistics in 2022. If you have any additional comments, do connect with us and let us know your thoughts.
Surveys Referred
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