I have previously done two similar articles where I shared some statistics regarding employer branding and candidate experience. These statistics have been extremely helpful in that they allow us to truly see the bigger picture and understand the cause and effect of various factors. Therefore, here is a list of 10 recruiting statistics that I have gathered and thought were pretty interesting.
1) 51% of employees are considering a new job and 84% of candidates would consider leaving their current company if another company with an outstanding reputation offered them a job. (Hirewell)
The “job-for-life” mentality is long gone, and loyalty is quickly going with it. This reinforces the need for employers to take great care of their current workforce, and cultivate a great employer brand, which helps retention and recruiting efforts immensely.
2) Perhaps most astonishing, 69% of candidates say they would not accept a position with a company that had a bad reputation, even if they were unemployed. (Hirewell)
This shows just how important your employer brand is. Recruiters should always bear in mind that investing in their employer brand goes a long way.
3) Spending on cloud HR software is increasing faster than “spending on installed or on-premises HR software”. HR cloud solutions will constitute 50% or more of all HR technology spending by 2017. (Gartner)
Do you know what are the basic steps in a recruitment process? Ease your recruitment by using HR tech in them.
4) 91% of employers are using social media to hire talent today. (CareerArc)
Employers also believe that social media will become a more significant source of hire in the next 5 years.
5) When jobseekers were asked which part of the standard job search process needed dramatic improvement, 69% believe the response time to applicants awaiting a hiring decision can be most improved, desired even more than enhancements to the online application process. (CareerArc)
TalentAdore’s system empowers you to give 100% personalised status updates and feedback messages to each job candidate individually and with no extra time. You can handle the entire recruitment process from job postings to hiring decisions to measuring your employer brand in real time. You can even build your talent pipeline.
With TalentAdore, you will be able to decrease the response time to applicants and keep them constantly updated.
6) 86% of recruiters and 62% of employers felt the 2016 labour market was candidate-driven. (MRINetwork)
7) It’s no surprise that since 2013, interest in employee advocacy has skyrocketed by 191%. (Altimeter Group)
Once again, this just emphasises the importance of employer branding. It is also essentially most useful when you involve your employees.
8) It is becoming increasingly difficult to fill positions – 65% of recruiters claim that talent shortage is the biggest challenge in hiring. (Jobvite)
9) Slower interview processes are gradually increasing time-to-hire. “The interview processes in America have grown by 3.3 to 3.7 days since 2009. Today it stands at 22.9 days on average”. (Glassdoor)
10) “Fewer than 12% of companies believe they truly understand their culture”. (Deloitte University Press)
*All statistics in this article are based on research conducted in 2016/2017.
I hope that these statistics allowed you to see the importance of the various recruiting factors. Recruiting is always more than just hiring someone new for the company. After understanding the weakest links in your recruiting process, you will be able to further improve it by investing a little. Start by learning how technology or HR systems can help improve your candidate experience.
Your ATS plays a huge role in shaping your company’s recruitment. Our Virtual Recruitment Assistant (VRA) is an amazing tool that touches people’s hearts. It integrates an Applicant Tracking System (ATS), Artificial Intelligence (AI) based communication technologies, and advanced automation.