We are halfway through 2019, so let’s take a look at some of the most important statistics about recruitment in news so far.
The stats might help you make the best hiring decision for the next half of 2019. This data gives you an insight into the current hiring state. The gathered data is the result of research done by top industry leaders like LinkedIn, Glassdoor, Deloitte, PayScale, ERE, and Thomson Reuters.
Let’s dive into the stats of 2019
1. The “Hiring Funnel” from Talent Function Group LLC
The “hiring funnel” or yield model for every job helps recruiters understand how many total applications need to be generated to get a single hire. It depicts the success rate of the hiring process. Let's simplify it with an example; in an online job posting, on average, 1,000 individuals will see the post, 200 will begin the application process, 100 will complete the application, 75 of those 100 resumes will be screened, 25 resumes will be seen by the recruiting manager, 4 to 6 will be invited for an interview, 1 to 3 of them will be invited back for the final interview, 1 will be offered that job, and 80 percent of those receiving an offer will accept it.
2. According to the stats provided by ERE Recruiting Intelligence, 250 applicants on an average are attracted towards a job opening.
3. LinkedIn stats states, the top trends shaping the future of recruiting and hiring are:
- Data (50%)
- Diversity (78%)
- Artificial intelligence (35%)
- New interviewing tools (58%)
4. The top factors influencing hiring decisions in an in-person interview according to Jobvite are:
- Prior experience
- Conversation skills
- Knowledge of the industry
- Cultural fit
5. Millennial Branding, a personal branding agency, says the top reasons for millennials to leave their company are that they receive a better job offer from another company (30%), their career goals weren’t aligned with their company (27 %), or they saw a lack of career opportunities within the company (13 %).
6. 69% of candidates would most like to see an improvement in employer response time. An employee would appreciate a response upfront from the recruiter, especially if the average response time is a couple of weeks.
7. Employer Branding is one of the important aspects considered by a candidate looking out for a job. As per Glassdoor, 69% of job seekers wouldn't take a job in a company with a bad reputation.
8. It's the age of millennials, and they cannot do without technology. Social Recruiting, as per Aberdeen Group 73% of millennials found their last position through social media.
9. MRI Network stated that more than half of millennials (53% ) say that career pathing has the most impact on their decision to stay with their employer.
10. Finally, one for women empowerment, an analysis of more than 20,000 firms in 91 countries found that companies with more female executives are more profitable.
Statistics provided by these top firms give us an insight into the best and worst ways to recruit, hire, and develop top talent. These stats, when used in combination with HR software, help HR professionals to simplify entire HR operations. The business of providing HR solutions is on the rise, and HR professionals can overcome any problem faced in their day-to-day HR activities using these solutions.
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