Hiring? Recruiting Stats You to Know for 2017 (Infographic)
We put together this infographic to highlight what we feel are very important trends for your Recruiting and Human Resources departments for 2017. Some of these insights might be more shocking than others, but all should help guide your growth and retention outlook and strategy this year and beyond.
The rise of the passive candidate reinforces the need to take exceptional care of your people and cultivate your employer band. 51% of employees are considering a new job (1) and 84% of candidates would consider leaving their current company if another company with an outstanding reputation offered them a job (2). The “job-for-life” mentality is long gone, and loyalty is quickly going with it.
This reinforces the need for employers need to take great care of their current workforce, and cultivate a great employer brand, which helps retention and recruiting efforts immensely. 69% of active job seekers are likely to apply to a job if the employer actively manages its employer brand,by responding to reviews, updating the company profile, sharing updates on the culture and work environment, etc. (3). Going further, 76% of people find companies more trustworthy if its C-Suite and leadership team use social media to communicate their brand (4). 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 (5).
LinkedIn cannot be relied on as heavily as before. Almost 45% of American job seekers look for jobs online (6), a stat that should surprise no one and a trend that made filling jobs easier for a time. However, more recently, 52% of hiring managers say passive candidate sourcing has been less effective because everyone is using the same recruiting methods(7). LinkedIn, specifically, is a double edged sword. With every recruiter on it, the competition for the same candidates is stronger than ever, and alternative networks talent pools are more critical than ever.
Finally, one of the largest hurdles for increasing a company’s workforce is the time-to-hire. 31% of recruiters site long and clumsy hiring practices for headcount issues (8), and 47% of declined offers in 2015 were due to candidates accepting other jobs (9). With the economy and job marketing continuing to improve, candidates have more options and the odds are they are not just talking with one company. With the average time-to-hire being 52 days (10), and the average cost $4k per hire (11), finding ways to increase the quality of the candidate pool and expedite the interview process can help companies lock down the best talent and save significant money, both on the recruiting size as well as loss of production resulting in an opening.
If your company is struggling with any of the issues mentioned above, reach out today. Hirewell helps companies of all sizes and industries find and retain top talent with improved employement branding, lowering the time-to-hire, and everything in between.
- Workforce Panel, Gallup, November 2015
- Corporate Responsibility Magazine / Allegis Group Services Study
- 3. (Glassdoor U.S. Site Survey
- Brandfog Global Social CEO Survey
- Corporate Responsibility Magazine / Allegis Group Services Study, August 2012
- Pew Research Center
- Harris Poll
- MRI Network
- Recruiter Sentiment Study
- Harris Poll
- Talent Acquisition Factbook 2015, Bersin by Deloitte