Employing the best candidates available in the market for positions in your company plays a critical part in defining your company’s success. The global health crisis during the Covid19 Pandemic has led to many changes in Recruitment Statistics over the last couple of years. Additionally, the advent of newer technologies for applicant tracking is responsible for changes in new talent recruiting strategies. And also how forthcoming contenders make judgments about accepting jobs.
Employers are searching to hire again means talents are becoming more difficult to find. As per Manpowers Survey, 69% of companies in the United States are laboring to locate the best talents, increasing from 14% in 2010.
Studying the emerging trends in the recruitment space becomes even more essential. Let’s have a look at the recruitment statistics here.
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Top Recruitment Statistics for 2022
Recruitment statistics for the top talent show that 70% of job seekers don’t actively pursue new opportunities via online job boards and professional networks. The competent candidates also have their priorities diversified, and they strive for familiar companies. And are more likely to exit a company in the first six months with poor retention records.
Read on to comprehend recruitment statistics and how to use them to improve your company’s recruitment approach to attract top talent.
Recruitment Process Statistics
The most crucial recruiting preferences are as follows:
- Enhancing quality of hire (52%)
- Improving retention rate (24%)
- Improvement in time-to-hire (23%)
- Growing the talent channel (22%) and diversity hiring (22%)
- 80% of the top 100 grossing hiring agencies work in multiple countries
- 8 out of 10 recruiters screen applicants based on referrals
- Professionals want feedback after a job interview, even if they are rejected for the role amounts to 94%
- As per SHRM’s research, a routine hiring operation takes a little over 36 days
- Out of 250 resumes are submitted for each job posting, and four to six candidates are called for interview
- 95% of Hiring companies use LinkedIn to find candidates
Recruitment Statistics You Need To Know
You can attract and retain top employees in the industry if you have the relevant data to optimize your company’s talent assets.
It is always more helpful to improve your recruitment strategy based on the expectations of the incumbent professionals.
A study carried out on 19,700 post-exit interviews discovered that 89% of employers believe their employees leave for more money. Whereas the reality is that employees who leave for more money are a mere 12%.
The top hiring trends and recruitment statistics are as follows:
- A Corporate Job Ad Attracts a minimum of 250 Applicants
- According to Glassdoor Stats, a job offer draws 250 resumes. Out of these applications, 4 – 6 candidates are called for an interview. Finally, one gets the job offer.
- 70% comprise Passive Job Seekers.
- According to LinkedIn, 70% of the global workforce is passive talent, and 30% actively pursue jobs.
- The Top Channels Candidates Use During Job Hunting
- As per LinkedIn Recruitment statistics, 60% of candidates use online job boards, 56% on professional networks, and 50% on word of mouth.
- 48% of businesses say that their number one source for hiring quality candidates is referrals from current employees.
- Of these referred candidates, 55% are hired faster than candidates recruited by other means.
- 67% of recruiters and employers said using referrals shrank their recruiting time, and 51% percent said it lowered costs.
- 75% of Hiring Managers Say Employer Brand Matters
- A reputable business brand receives 50% more qualified applicants.
- 86% of inactive candidates assess a brand before applying for a job.
- For 76% of job seekers, business diversity is essential.
- 75% of Americans would not take a job if the company had a bad reputation.
- A strong employer brand reduces turnover by 28% and recruitment costs by 50%.
- Remember, your reputation precedes you
Your organization should have a healthy work culture, appreciate and reward performance, and help employees progress in their careers to attract the best talents.
- Skill Development is a priority for 93% of Millennials
The millennials have occupied more corporate leadership positions, and this has been possible because they are, perhaps, the best in the market. Skill development options and professional training should be on your priority list.
- Recruiters Often Hire Top Talent Within 10 Days
For a solid human resource management system, think of BizMerlinHR. It lets you onboard, manage, and allocate team members on the cloud.
- Diversity is vital for 67% of Candidates
- Diversity helps improve originality and creation, productivity, and more effective growth prospects.
- Nearly two-thirds of candidates assess organizations based on diversity
- A diversified climate marked by a healthy culture fosters skilled and emotional growth
- Your company will have more pull to top job seekers
- Pre-Pandemic Global Workforce Statistics
- 7.9 million job openings were there at the start of 2020.
- The global workforce comprised 70% inactive job seekers and 30% active job seekers.
- 86% of businesses invest in intelligence sourcing software
- Pandemic Global Workforce Statistics
- A rise of 8.6% by the end of 2021 due to the global pandemic in the European Union alone
- Starting with COVID, there is an increase of 135% in the remote workplace
- The layoffs of 12.8% have been there. 60% of companies stopped recruiting
- Demographics Statistics
- The average work age is 42 and rising.
- By 2030, the average work age will increase by almost one year.
- 18 to 24-year-olds change jobs 5.7 times during six years.
- People aged 23-34 hold, on average, 4.5 jobs.
Conclusion
The Pandemic pushed the world upside down, but now hiring is showing signs of recovery. You will have the upper hand in the job market if you know what the industry looks like and take the lead in the industry. So we insist on keeping a track of the evolving trends in the recruitment industry from time to time.
