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