Obviously the world of recruiting is changing at a rapid pace. Much has changed in the last four years, let alone the last twenty years. So, what are some major differences that are popping up in recruitment? Below are 7 recruiting statistics that will blow your mind. These statistics we're found on undercover recruiter.
1. It Takes An Average Of 27 Days To Make A New Hire.
This isn't surprising to us. We have worked with tons of clients over the years and things just take time. The hiring process is a difficult one and our friends over at HiringSucks.com created a website to highlight that problem. But it's true, you must schedule interviews, coordinate with everyones schedules and you have to be thorough as well. Most of our clients takes the interview process on a week by week basis meaning first interview first week, second interview second week, third interview third week and then a decision is made. Only three interviews are taking three weeks to complete. Once the client has decided to move forward with a candidate after the third interview, it usually takes a week or two for paperwork, background checks, offer letters and everything to be put together. So a five week hiring process is totally not out of the question.
2. The Best Candidates Are Off The Market Within 10 Days.
The best candidates usually start their job search well in advance of leaving their current job. If they have been unfortunate enough to randomly be laid off, they probably have a network of people they can lean on for some quick interviews. And, top candidates are smart, they sense when their companies aren't doing well or when things are likely to turn sour so they are always proactively networking.
3. Over 75% Of Professionals Are Passive Candidates
So that means at any given time only 25% of professionals are actually looking for work? hmmmm fact check please.
4. 46% of Recruiters See Recruiting More Like Marketing.
Most people don't understand the difference between marketing, advertising and sales. Also, we're in the recruiting space and have been for a while, not many recruiters are good marketers at all. So it's funny to read that 46% of people realize it's all about marketing. In actuality, recruiting has always been about marketing, it's just been done over the phone mostly. In 2016 we have the opportunity to take all of that phone marketing and translate it into digital marketing. There is a huge shift happening in recruitment and it's based around old school marketing turning into new school marketing. More to come on this.
5. Employee Turnover Can Be Reduce by 28% Simply By Investing In Your Employer Brand.
This stat comes back to marketing. If you understand the type of people you want to attract and you market your company to attract those people and create a culture that those people like, you will retain employees. When developing your employer brand think about what you are, who you are, who you want to be and how to achieve of if. Then go out and market your brand to the right audience with the right messaging.
6. People Are More Likely To Accept Cold Emails If They Have Interacted With Your Brand Before.
Duh, this goes back to marketing right? If you have more exposure and make good impressions on people by creating messages that stick, you will create recognition and develop attraction.
7. 60% Of Applicants Have Quit An Application Because It Took Too Long.
OMG, this is amazing. It's so true. We use a few different platforms to post our jobs on and our responses vary with the complexity of the application. There are many job boards that have a one click application feature and its so easy to use. You can literally apply to 20 jobs in 20 minutes. Because of these easy application systems people just do not have the desire to go through a long application process anymore. It's also the reason why there is a huge increase in unqualified applications. Check out this article we wrote on unqualified applicants.
Conclusion
Yes things are changing rapidly but they are changing in a way that makes sense. Take a step back so you can look at the core of recruitment and hiring , from there you can make wise decisions and predictions about how things are going to move forward. The core ideas are still the same it's just how things are being done that's changing.
This article was written by Quintin Ford, a recruitment entrepreneur located in Playa Vista, CA. Quintin is the Founder of OCEAN | STREET and avid blogger and social media guru. Learn more about Quintin on LinkedIn.
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