8 Recruiting Facts
At Staffing it is interesting to read some of the interesting stats from the recruitment industry. Whether you are a recruitment company, employer or candidate you will be surprised and facinated with the following hiring facts (Updated August 2020):
- Just as the number of job opening can increase it often will decrease at an even faster rate if an economy is slowing down. Nothing is constant so the highest salaries are secured when unemployment rates are lowest. Rememnber however lock in your job and salary at the peak as you may be looking for work when the cycle dips. With approximately 75% of available jobs never advertised you should never stop career networking.
- 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.
- On average there will be between 55 and 99 applicants for advertised jobs. Generally between 6% and 12% of these applicants get an interview.
- The average cost of replacing a member of staff earning is $5,000 and $12,000.
- It was reported of the 18,000 new hires 49% of them failed within 14 months and of these, 90% left because their attitudes did not align to that of the organisation. Only 12% failed because of a lack of skills.
- companies report that 1 in 19 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 33 minutes and face-to-face interviews last 51 minutes on average. In a survey of 2,000 hiring managers, 31% claimed to know whether or not they would hire someone within 10 minutes. After that, it usually takes 2 day to 9 days to hear from the recruiters with their decision.
- It is interesting to note that only 6% of unsuccessful candidates were given feedback that was moderately useful from hirers. Only 2% of candidates received valuable feedback.
- Companies on average look for the consider the following traits before making an offer: 32% look for multitasking skills; 28% look for initiative; 22% look for creative thinking; and 10% look for something else in the candidate.
- On average new candidates take between 24 and 26 weeks to reach optimum productivity.
For more Recruitment Services Career Advice see below additional resources to find the perfect job: