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10 Important Recruitment Stats of 2019

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.

eHRMS by Neural IT is a cloud-based software helping simplify daily HR tasks. Digitize your HR function & let eHRMS empower HR’s to easily onboard new hires, track employee progress, and analyze data to support employee development and organization.

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Recruiters are constantly looking to revamp their hiring efforts. Here are the trends and insights for recruiting the best candidate.
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10 Important Recruitment Stats of 2019 | eHRMS

5 Amazing Ways To Attract & Retain Millennial Talent

Millennials now make one-third of the total workforce in the world. Now more and more companies are interviewing and searching for millennials to join their thriving workforce. It is important for managers to change their management styles to attract and retain these young talents. As the labor market continues to improve, many young talents receive multiple job offers. So, how would you attract top talent to join your organisation?

Here are 5 ways How You Can Do It

1. Culture: A positive work environment can help instill a sense of community, create transparency, and encourage collaboration amongst your employees. They particularly want to be involved in the process of building and maintaining a good work culture. Get your Millennial employee involved in anything whether it may be planning company outings or company meetings.

2. Flexible Work Arrangements: Nowadays many organisation attracting top talent are encouraging flexibility as many Millennials want the ability to work from anywhere. Once upon a time, it was necessary to physically be at the office every day. Now work can be conducted from home with an internet connection. Today’s talent looks for a job that offers flexible work schedules. This kind of schedule increases productivity, boosts employee efficiency, reduces employee turnover and boosts morale.

3. Fast Career Progression: Millennials want quick growth in their employment. They expect to rise up the corporate ladder or how quickly they will get their desired salary amount. Regular feedback from managers, a casual conversation on their progress and performance are often valuable. The standard manager feedback such as “you need more time in the role to be promoted” or “keep doing what you’re doing” is not sufficient.

4. Personal Engagement Opportunities: Millennials are highly engaged by what they do. Allowing them to create and run their own committees, task forces makes them feel highly engaged in their work resulting in high productivity. Employers who execute this sense of community are successful in retaining and attracting millennials.

5. Work-life Unity:  This generation believes that their job is not just a career, but it’s their life too. In order to have a fulfilling life, millennials look for jobs that can be seamlessly integrated into their personal schedules. They want a happy work-life balance, as millennials care intensely about their work-life balance and feel that having a life outside of work is as important as having a job.

Even after following these tips, it may be worth evaluating how your millennial employee feels. Get personalised feedback by running an employee engagement survey in your organisation, include questions that ask for an employee’s age, and then easily filter the responses and see how many millennials responded to the survey.

 

eHRMS by Neural IT is a cloud-based software helping HR’s to simplify their daily tasks. Digitize your HR function & let eHRMS empower HR’s to easily onboard new hires, track employee progress, and analyze data to support employee development and organisation.

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For attracting Millennial talent, pay attention to what they expect from an employer like workplace, culture.
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5 Amazing Ways To Attract & Retain Millennial Talent | eHRMS
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