10 Employment Facts
At Staffing it is interesting to read some of the interesting stats from the recruitment industry. Whether you are a staff agency, employer or candidate you will be surprised and facinated with the following employment facts (Updated May 2021):
- The average cost of replacing a member of staff earning is $5,000 and $9,000.
- On average there will be between 58 and 93 applicants for advertised jobs. Generally between 3% and 10% of these applicants get an interview.
- It was reported of the 17,000 new hires 51% of them failed within 20 months and of these, 91% left because their attitudes did not align to that of the organisation. Only 11% failed because of a lack of skills.
- Many organisations use talent-management software to screen resumes that look at keywords to screen out up to 71% of applicants without ever looking at a resume or cover letter
- Organisations spend on average 5 and 8 seconds reviewing resumes, 1 grammar or spelling mistake and your CV will be thrown away. 80% of CVs are ignored if your email address is unprofessional.
- Other than the date, name of the contact and location, only 36% of candidates receive any information prior to an interview.
- On average new talent take between 22 and 27 weeks to reach optimum productivity.
- companies report that 1 in 21 job offers (around 5%) are rejected by their first choice of candidate. Usually because they have received another offer, however often for many other reasons.
- Phone interviews last 25 minutes and face-to-face interviews last 41 minutes on average. In a survey of 3,000 hiring managers, 30% claimed to know whether or not they would hire someone within 10 minutes. After that, it usually takes 2 day to 10 days to hear from the recruiters with their decision.
- Companies on average look for the consider the following traits before making an offer: 29% look for multitasking skills; 30% look for initiative; 20% look for creative thinking; and 12% look for something else in the candidate.
Sources :
- The New York Times
- The Economist
- Hiring for Attitude by Mark Murph
- American Staffing Association
- The Age
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