By Raj Vardhman | February 28, 2020 | 0 Comments

25 Simplified Recruitment Statistics to Take Note of in 2020

In the past, employers held all the power and made all the decisions in an organization. They made the final decisions on the people they hire, where they worked and at what cost, as well as which information was made available to them. However, this has changed. 

The development of technology caused employers to implement higher standards of hiring, especially global tech recruiters. For example, thanks to the developments in artificial intelligence and automation, hard skills are not as necessary to be successful at work. Machines can do most of the mechanical labor easily. 

Soft skills, on the other hand, have become more vital in the world today as it is the only aspect where machines can’t compete with humans. These skills include communication, intelligence, and personality, among others.

Recruitment statistics show that 92% of recruiters believe that soft skills have become as important, maybe even more than hard skills. These statistics can help in understanding the patterns in the behavior of employees and employers. 

The following stats are for two groups of people. The first group is employers looking for new methods of hiring and recruitment to help grow their companies. The other group that can benefit from these hiring stats are those in search of jobs.

Fascinating Statistics on Recruitment (Editor’s Pick)

  • 66% of US companies had plans for expansion in 2019 
  • 90% of all job searchers use mobile phones when searching for jobs 
  • It takes only six seconds for recruiters to evaluate the resume of a candidate
  • Eight out of ten professionals in the HR field regularly do reference checks
  • Two out of three job candidates see a diverse workforce as a deciding factor in accepting job offers
  • Only about 2% of all applicants get a call back for an interview
  • About 80% of the job vacancies are not posted online.

General Recruiting Statistics

1. 66% of millennials are expected to leave their company/organization in 2020.

(Glassdoor)

If you’re looking to employ young talent quickly, you will be pleased to know that this year, 66% of millennials are planning to seek fresh jobs. On the flip side, if your business presently uses many young employees, the idea of over half of them leaving your organization will fill you with fear. 

Luckily, as an HR representative, you can have a major impact on whether or not this job change statistics hold true for your company. You have the power to enhance your employees’ work environment and help create an atmosphere that they wouldn’t want to leave. Young employees particularly appreciate things like staff commitment and quality wellness programs.

2. Every vacancy costs $500 a day for the average business.

(Solutions-Driven)

The average company tends to lose about $500 daily due to vacant positions in the organization. HR statistics show that filling vacant positions should be a top priority for the HR department. 

When corporate roles stay unfulfilled, money is lost, the productivity of the team reduces as staff work to achieve activities for which they are not suited, and corporate morality plummets. That said, take care of your present staff in a quality recruitment program.

3. 52% of surveyed candidates claim a good compensation package is the most enticing element of a job.

(HRCloud)

Hiring the top candidates as quickly as possible is essential, but it has to be done properly. An instant low-ball offer will simply give you “no thanks” immediately. Hiring statistics for 2019 show that most new employees (52% to be exact) want to have good compensation packages. In the long run, cash spent securing and maintaining the finest staff will be more than worth it.

4. 48% of companies claim that their top-quality hires come from referrals.

(EBI)

This stat is neither new nor surprising, as referrals are perhaps the oldest way of getting a job. According to statistics on job opportunities, employee referral programs are significant and enable companies to secure top talent more readily. Why? Because your present team understands what it takes to succeed in your business better than anyone else.

So if you are an employer looking to hire, by taking referrals of employees seriously, you will have a better chance of securing a top-quality employee. It will help in reducing recruiting time and expenses, enhance retention of workers, and increase the morale of the team.

5. Organizations investing in the branding of employers are three times more likely to employ a top-quality professional.

(Glassdoor)

Glassdoor stats show that top talents want to work for the biggest organizations. Is there something your business stands for? Does it look effective and structured? To secure top talent, you don’t have to be a worldwide brand like Google, Amazon, or Apple. However, you need to appear successful and advancing. The strong branding of the company enables potential staff to see the business in a much better light.

6. In 2019, the unemployment rate in America fell below 4%.

(Smallbizgenius)

According to employment statistics, the last year started with a relatively low unemployment rate of 4% and has only declined since then. The unemployment rate has reached its lowest value since 2008 and was only 3.6% in April and May. According to the most recent information, roughly 164,000 new jobs were established in July 2019 alone.

7. 45% of jobseekers claim that finding a job was more difficult in 2019 than it was in 2018.

(Jobvite)

Job search stats show that about 45% of jobseekers feel it was harder to get a job in 2019 than it was in 2018, even with a low unemployment rate and a booming economy. This is more likely to be reported by rural workers (27%) than the urban population (17%). 

8. In 2019, 40% of employers intended to employ permanent full-time employees. 

(Career Builder)

Four out of ten employers planned to hire new permanent and full-time workers in 2019. This is according to the annual recruitment statistics from Harris Poll. Another 47% of them plan to hire people that will work part-time, which highlights the economy’s strength. 

Full-time workers are in demand, as up to 50% of HR managers claim that they presently have open positions for which they can’t get any qualified candidate. However, things are not that bad because many candidates are ready to assume these roles. Recruitment statistics for 2019 show that 32% of workers were looking to change jobs in 2019 across all industries.

9. 66% of US companies had plans to expand operations in 2019. 

(GMAC)

Most US corporate employers expressed optimism last year, with approximately two out of three companies reporting plans to expand their businesses and human capital. With inadequate workers, this could be difficult, which is why they need to change their hiring strategies.

Hiring Trends Statistics

10. To overcome talent shortages, 54% of all employers give more training and development.

(Manpower Group)

With growth and expansion plans on the one hand and a limit of skilled applicants on the other, over half of all employers are seeking workers. If candidates with the right skills cannot be found, they must teach prospective employees and also give them the necessary expertise.

Hire trends in the recruitment industry prove that employers of labor are also taking steps to lower their requirements for education and experience (36%) and are also recruiting from beyond the traditional talent pool (about 33% of them), all in an attempt to address the talent-shortage conundrum.

11. Around 55 million people, more than 35% of the US workforce, are gig workers.

(Forbes)

The gig economy has now become a part of the working culture. This is particularly true in the world of customer service and support. The stats on jobs reported in 2018 that about 55 million people living in the US are gig workers, which is over 35% of the workforce. It is expected that this number will increase to 43% by the end of 2020.

12. About 54% of all hiring professionals claim that work flexibility promotes the ability to retain an employee, and 51% of them agree that it attracts applicants.

(Linkedin)

Employers who follow these hiring stats will have better chances of gaining top talent and retaining employees. Employees always like the opportunity of doing work from home and the independence to choose their hours in today’s fast-paced world. The benefits of a flexible work environment are for a better work-life balance and satisfaction rate. There is nothing better than being able to work at your convenience, from a variety of locations.

Job Search Statistics

13. 73% of all companies use social media to hire and recruit candidates. 

(Top Resume)

Social media provides you with an excellent platform to show employers information about who you are and reasons you would be ideal for hire. Sites such as LinkedIn help you to cultivate an interactive resume through creating a professional profile. 

Websites such as Facebook, Instagram, Twitter, and others also have a lot of job search value. Social media recruitment stats show that these websites allow you to present your expertise. Employers want more information about you than just your work experience and can learn a lot about you by visiting your social media profiles. Hence, it is important to represent yourself properly across all the channels you’re active on. 

However, some social media platforms are more suited to employer-employee interaction than others. LinkedIn recruitment statistics suggest that this platform holds some of the best employment opportunities.

14. 90% of job candidates use mobile phones to search for a job. 

(Workology)

This is yet another stat that shouldn’t come as a big surprise, considering how many people use smartphones nowadays. Most people (90%) tend to rely on mobile phones to research prospective employers and search for jobs. The main reason for such job search stats would most likely be attributed to the ease and convenience of mobile phones. However, despite using a mobile device, the recruiting process still remains difficult. 

Hiring Process Statistics

15. It takes only six seconds for recruiters to evaluate the resume of a candidate.

(The Ladders)

HR specialists need to be efficient with a slew of CVs to go through and a deadline to bring in new employees. Recruitment statistics show that it takes only six seconds for recruiters to decide whether a candidate is going to advance to the following stage. That said, you need to do your best to make your CV stand out. If you’re not that good with composing quality resume, it would pay off to hire someone to do this for you.

16. Applicants are evaluated by about 59% of companies based on their soft skills.

(Workonic)

Workonic’s recruiting industry statistics show just how much employers value soft skills. Nearly 60% of recruiters determine candidates on their social skills, personality traits, EQ/emotional intelligence, and several other skills that they consider necessary to do the job at hand successfully. 

17. On average, 250 resumes apply to a corporate job post.

(EBI)

If you wondered how many applicants per job posts there are, here’s your answer: Available job application statistics show that when a new position in a large corporation opens, around 250 candidates apply. Even though many people apply, most of them do not meet the basic requirements, which, unfortunately, means they won’t get chosen. If this happens to you, you should not be discouraged for being rejected and should keep applying for other positions.

18. Eight out of ten professionals in the HR field do reference checks regularly.

(The Balance Career)

According to hiring statistics, eight out of ten professionals in the HR field claim they regularly perform reference checks when hiring professional, executive, administrative, and technical staff, at 89%, 85%, 84%, and 81%, respectively. 

Regular reference checks for part-time, skilled-labor, seasonal, and temporary positions are not as likely. Information routinely provided by the former employers includes employment dates, eligibility for re-employment, employability, and salary history.

Diversity Hiring Statistics

19. Two out of three job candidates see a diverse workforce as a deciding factor in accepting job offers.

(Glassdoor)

Two-thirds (67%) of passive and active jobseekers claim that a diverse/inclusive workforce is an important factor in assessing businesses and job offers. So if you are an employer looking to hire, candidates are likely to evaluate diversity when researching your company and during the interview process, whether your organization wants to increase its diversity or not. This greatly affects the average job search time.

20. 71.5% of companies claim to have a strategy for diversity, but only 37.2% of them have diversity goals.

(Allegis Group)

Allegis Group also surveyed 500 senior HR decision-makers on the progress and commitment of their organizations to building an inclusive and diverse workforce. When the focus is on the progress of a company’s diversity and inclusiveness initiatives, 71.5% of respondents said there is a strategy and they are making progress. 

However, these stats show that only about 37.2% of them had diversity hiring goals. Similarly, in other areas affecting the employee experience, there is only a small portion of respondents claiming diversity & inclusiveness goals.

FAQ

When Do Companies Hire?

As employers struggle with a competitive recruiting environment that creates prolonged job opportunities across the US, the workers reap the benefits. Around 63% of all US employers planned to recruit permanent, full-time workers in the lower half of 2018, which is an increase of 60% compared to the 2017 recruitment data

A significant number of employers that wanted to hire in the lower half of 2018 planned to offer higher wages and various benefits, such as extra paid time off, signing bonuses, costless lunches, and the opportunity to work remotely. This was all in an effort to attract and maintain the people they need.

How Many Job Openings Are There in the US?

After almost two decades since we track these stats, US employers put the highest number of available jobs in December 2018, demonstrating that the present job market remains strong. The Labor Department said job openings jumped to 7.3 million (2.4%) during this month. 

Jobs stats show that’s the most since records started back in December 2000. It is also much higher than the number of unemployed, which stood at 6.3 million for that month. Employers added 304,000 new jobs in January 2019, which was the most in nearly a year. 

The December job openings jump suggests that hiring is likely to remain robust. Job searching statistics show that vacancies are typically filled up in about 1-2 months.

How Big Is the Recruiting Industry?

The recruiting and staffing industry usually includes companies that assist other organizations to get employees. This is done either by helping companies recruit new staff or by providing temporary staff to perform specific tasks (temporary or agency staffing). 

The recruitment industry trends prove that the US recruiting and staffing market is expected to increase from $148.1 billion in 2018 to $157.8 billion in 2020. What’s even more important is to note that this growing trend will definitely continue to exist in the future.

What Percentage of Applicants Get an Interview? 

For an average job opening, only 2% of applicants will be asked for an interview. These job interview statistics show that applicants need to equip themselves with the necessary skills that prepare them to get hired because the competition is fierce in every field or niche. It takes an average of five to six weeks to get a job offer, and the whole interview process takes an average of 22.9 days to be completed.

Where to Look for a Job?

Online recruitment statistics suggest that eight out of ten job ads are not posted online. Websites such as Glassdoor and Monster can certainly be useful tools for your job search, but looking beyond the jobs listed online is also important. 

Going directly to the company’s website you are targeting is a suitable way to find out about jobs not posted online and places that are currently hiring. Dig a little, identify a few decision-makers, and start networking. Don’t go too high and try connecting with the C-level team to ask about the available job positions— they probably won’t answer. On the contrary, target those with titles such as managers and directors.

Conclusion

These recruitment trends may turn out to be the factors that give you an edge over other candidates going for the same job offer. As candidates looking for employment, it is important to equip and update yourself with these trends and statistics so you can navigate the job market terrain properly.

If you are an employer looking for employees, there is a present talent shortage, and so it is required that you reform the methods that you use to get employees. Some things have changed in recent times, such as job searchers looking for transparency and a more flexible work environment. 

The above trends in recruitment can be studied and used to correct and update your current hiring methodology. This set of stats could benefit both sides. Every employer and prospective employee should take a look at them and amend the aspects that need to be taken care of. Doing this should yield positive results in a relatively short time.

In any case, we hope that these recruitment statistics have given you the knowledge needed to get your dream job or qualified employee.

References

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