May 23, 2024

The recruitment landscape is ever-changing, ranging from technological advancements to protocols. Globally, millennials will account for 75% of the workforce by 2025. It’s very important for folks seeking employment to understand the factors that could improve or impair their chances of securing a job.

For this reason, we’ve compiled some important recruitment statistics every job-seeker should know in 2023 to have a higher chance of getting selected from the crowd of other desperate fellows. From understanding the challenges involved in the processors to learning the impact of several protocols in the job-seeking quest, these statistics have a lot to unveil. General Statistics on Recruitment

General Statistics on Recruitment

1. The Talents of Potential Employees Are Declining, Leading to Difficulties in Recruitment For Business Owners.

According to a report from LinkedIn, the recruitment rate globally has continued to decline due to the shortage of required talent. This has made job seekers frantic in their efforts to secure jobs.

(Source: Fit Small Business)

2. The Average Time to Replace a Worker is 41 Days.

A report from the LinkedIn Website shows that it takes an average of 41 days to secure a recruit globally. This shows why keeping employees on your team for a long time is important so you don’t face delays that can cost you. Sadly, most places worldwide struggle with keeping employees for the long term.

(Source: Recruit CRM)

3. 92% of Passive Workers will Consider Working For a Well-Managed Company. 

Inactive employees are currently employed but not looking for a new alternative. A well-managed company stands a high chance of getting referrals. When these referrals get to passive workers via friends or family, they will likely investigate the brand and seriously consider leaving their jobs for a better alternative.

(Source: Recriutee)

4. Job Seekers Apply For Two or More Online Jobs Every Day.

Job seekers apply for many jobs daily, and companies check their qualifications simultaneously. The hiring process must be quick and efficient to make a positive impression. This is where technology plays a crucial role in the hiring process.

(Source: Finances Online)

5. A Job Seeker is 18 Times More Likely to be Employed Through Referrals.

According to a survey by CareerPlug, referrals are a powerful recruitment tool because they usually come when either the company or the candidate has proven themselves. In a nutshell, their reputation precedes them. When a family member or friend recommends a brand, it is usually because it has a good reputation. The job seeker is generally told of a job opportunity because it falls into their job scope or talent. Referrals come from people who have previously had work experience with the job seeker. Referrals effectively link brands with the right or recommended skills, save time and financial costs, and usually lead to a good onboarding experience.

(Source: OnHires)

6. Nearly 40% of Job Seekers Find Job Vacancies on Social Media.

The social media platform has become a viable place for business owners or marketers to create awareness of job opportunities for the masses. The number of internet users in the world is 5.19 billion people, constituting 64.6% of the world’s population. 4.88 billion people are on social media, which translates to almost 60% of the world population, according to STATISTA. With this vast number of people on social media, marketers and business owners have seen social media as a huge opportunity to create awareness for job vacancies and sell their products and services. This has led to almost 40% of job candidates coming across a job opportunity on social media.

(Source: NovoResume)

7. The Average Work Age is 42 Years.

A report from the Bureau of Labor Statistics says that more people are working later in their lives, and by 2030, it’s expected that the average working age will increase by almost a year. Given these facts, business owners should consider targeting this older age group as their audience.

(Source: NorthOne)

8. 76% of Companies Search For Skills When Hiring New Talents.

For many brands and organizations, having the right skills is highly important. They use these skills to separate candidates with the necessary talents. When recruits with the desired skill set are employed, there is a huge potential for good productivity for the company in the long run. This recruitment method can be aided by software to help sort out candidates who fit the job scope.

(Source: Apollo)

Onboarding Recruitment Statistics

Onboarding Recruitment Statistics

9. A Well-Planned Onboarding System Can Enhance the Retention Rate For New Employees by 82%.

It’s extremely important to introduce new employees to how things work, the values, and the organization’s culture before they start working. It helps the new employee understand the job’s nature and how to go about it. According to a report from Recruit, this helps to make them more productive by 70% or more. Without a proper onboarding process, employees may get frustrated because they weren’t given guidance on what to expect and how to do their job well. This can lead to a high turnover rate, as more people are likely to quit.

(Source: LinkedIn)

10. 88% of Institutions Lack a Properly Managed Onboarding Process.

Many companies struggle to keep employees for long. A big reason for this is that, while they know onboarding is important, they often underestimate how a badly handled onboarding process can harm both the employee and the organization.

(Source: Thrive My Way)

11. A Proper Onboarding Process is Cheaper Than Replacing An Employee.

A good retention rate benefits the organization, especially from a financial perspective. On average, the company could part ways with $4,129, which could stem from internal or external recruitment costs, whereas the better alternative (a good onboarding process) will cost the institution $1,500 approximately.

(Source: Zety)

12. 78% 0f Organizations With Good Onboarding Strategies Reported An Increase in Revenue Annually.

Among the few organizations with proper onboarding processes, a lot admitted to seeing significant improvement in revenue, a consequence of spending less from improved employee retention rate.

(Source: Zippia)

13. Bad Onboarding System Accounts For 44% of Newly Employed Folks Quitting After the First 6 Months.

It’s concerning to think that many organizations do onboarding. Still, when it’s not done right, the new employees feel disconnected, not aligned with the company’s objectives, and not loyal to the organization. This mostly leads to quitting the job after a few months.

(Source: Shortlister)

14. 58% of Institutions Reported Paperwork Being the Focus of the Onboarding Exercise.

Unfortunately, most organizations are guilty of making paperwork their focal point in onboarding. A well-planned onboarding practice is more engaging because it shows the newly employed person practical solutions to challenges they will encounter while executing their jobs. It gets them involved and builds their confidence, which improves productivity.

(Source: Statista)

15. Engaging the Newly Employed With Good Communication and Rapport Before Onboarding Improves the Experience by 83%.

The importance of good communication should not be underestimated. It goes a long way to relax the new employee and be pre-informed on what to expect from the onboarding exercise. When new employees know what is coming, they will be in sync with the whole movement, comprehending what’s expected.

(Source: Statista)

16. About a Tenth of Newly Recruited Employees Are Impressed With the Organization’s Onboarding Exercise.

According to a survey by Oak, 12% of recruits are satisfied with the onboarding exercise of the company. This poor result directly influences the low retention rate of employees. Thus, organizations need to re-strategize their onboarding process.

(Source: Shortlister)

17. 55% of Organizations Don’t Evaluate Their Onboarding Exercise.

Many companies that engage in the onboarding process show no inclination to check how effective the onboarding exercise is. Thus, they fail to see their shortcomings and what to improve on. Unfortunately, many institutions are nonchalant about the effectiveness of their onboarding exercise and pay the price in the long run due to their disregard.

(Source: Zippia)

18. 93% of Business Owners Believe the Onboarding Exercise Helps Recruits Decide if They Want the Job.

Being pre-informed about the goals of the company and the possible challenges of executing the jobs goes a long way to show the Recruit if the job scope meets their personal goals, norms, and religious beliefs. This has been proven to have a significant impact on job retention.

(Source: Zety)

Many recruits have reported queries on the job scope are usually delayed, which further frustrates and makes them feel disenfranchised. Thus, they fail to align with the company’s goals and sadly increase the likelihood of quitting the job.

(Source: Thrive My Way)

20. One-third of Human Relations Professionals Have Complained That Onboarding Exercises Are Not up to Standard.

The benefits of a well-planned onboarding process cannot be overstated, as it usually brings good financial and reputation feedback to the company. The organization’s leaders should ensure the onboarding exercise quality is as close to the required standard as possible.

(Source: LinkedIn)

21. Recruits With Good Onboarding Experience Are 58% Likely to Be With the Institution For More Than 3 Years.

It has been observed that new employees are likely to remain with the organization longer than those whose onboarding experience left a “bad taste in the mouth.” This should encourage institutions to organize a well-structured onboarding process.

(Source: Apollo)

22. One-Fifth of Recruits Recommend(refer) Their Employers to Family and Friends.

In the job market, employment that comes through referrals has proven to last long, with stronger connections between business owners and employees. This is contrary to work secured by going through the credentials of strangers yet to be tested on the field. A report from Kallidus reveals that only around 20% of new hires are inclined to refer others to the company. This low number is mainly due to badly conducted onboarding processes. This should motivate organizations to improve their onboarding experiences for recruits.

(Source: NorthOne)

Statistics on Remote Employment

Remote Employment

There is a growing trend in the recruitment process. From the in-office direction, firms are now hiring people who will work remotely or do both(hybrid). Let us see what the stats have to say on this current development.

23. A Majority of 86% of Employees Prefer to Work Remotely or As a Part-Time Job.

With this growing trend, business owners should look closer at how this could benefit them and embrace the recruitment strategy. This would prevent them from being behind competitors using this recruitment method already.

(Source: NovoResume)

24. 61% of Business or Brand Owners Expect Virtual Interviews to Become the Standard Eventually.

A majority of recruiters believe that the use of videos for interviews will become the norm in the future, according to a report by OnRec. The survey shows that about 22% of business owners used videos for interviews before the pandemic. Interestingly, 79% of employers are using videos for interviews to date. The pandemic and its challenges are responsible for the spike in the use of videos for interviews. Being unable to move about because of the COVID-19 policies on social distancing, business owners saw the advantage of using videos to conduct interviews remotely.

(Source: OnHires)

25. About 22% of the Workforce in America is Predicted to Work Remotely By 2025.

In a study conducted by Upwork, this percentage of the workforce in the US is expected to work from home, with an expectation of about 36.2 million people being recruited remotely in 2025. When this occurs, it will indicate an increase of 16.8 million people working remotely judging from the timeline of pre-covid and post-covid.

(Source: Finances Online)

26. 66% of Workers Globally Are Restructuring Their Workspace to Support a Hybrid Working Strategy.

According to a report by Microsoft, 40% of the workforce in the world is seriously giving second thoughts to quitting their current jobs. This has presented a huge opportunity for business or brand owners seeking recruits to have diverse talents available to employ. Knowing that most of these folks are disgruntled with their current workplace creates an opportunity for business owners to consider remote recruitment. Statistics show that most people prefer to work remotely because it brings flexibility for employees whose productivity could be improved by working in their comfort zone. Many employees are considering getting a remote job as a SIDE HUSTLE, leading to hybrid jobs trending among business owners.

(Source: Recriutee)

27. 70% of Business Owners Are Considering Accommodating Hybrid Work.

With companies like Spotify, Google, and Facebook adopting hybrid working strategies, many other brands are considering joining the TRAIN to avoid being left behind.

(Source: Recruit CRM)

28. 28. 70% of Employees Who Work Remotely Are Satisfied With Their Jobs.

A business owner should make the happiness of their employees their PRIMARY TARGET because the more satisfied employees are, the higher the retention rate is likely to be, and it’s cost-effective when you consider the alternative of replacing an employee who has left the establishment.

(Source: Fit Small Business)

29. 51% of Remote Workers Admit They Are More Productive Than In-Office Jobs.

A satisfied employee means better productivity. If productivity is the focus of a business owner, they should embrace the employee working remotely or hybrid. A report by Flexjob shows that people who work in offices are less productive than people who work in their comfort zones. This goes a long way to prove location is an important influencer for employee satisfaction and high productivity. Another report from ViewSonic points out that business owners are tilting towards remote recruitment because they don’t have to pay for office space for the employee, nor will they pay taxes on behalf of the employee. They also won’t spend money on employees during breaks, like paying for their lunch.

(Source: Thrive My Way)

Recruitment Trend Statistics

Recruitment Trend Statistics

30. 62% of Workers and 86% of Business Owners Believe Candidates Solely Drive the Job Market.

Due to the “great migration” from office to working remotely, business owners and employees are convinced that today’s job market depends on the job seeker’s preference for work conditions. Previously, business owners called the shots, deciding the requirements the job seeker would adapt to for the job to be secured. With productivity vital to every company, business owners succumb to the demands of job seekers who prefer to work remotely.

(Source: Zety)

31. 70% of Business Owners Agree That Using Software to Source For Recruitment Would Improve Productivity.

The use of technology to implement recruitment has proven to be very effective in sourcing the right talents that meet the job requirements. With automation, the software can track behavioral patterns, trends, and repetitive tasks and categorize candidates according to their abilities, which are considered their strengths. It saves time and costs that could have been incurred without automation.

(Source: Zippia)

32. 74% of Companies’ Human Relations Departments Use a Well-Planned Interview Strategy.

A well-planned interview can give prospective employees a good impression of the company by being a smooth experience that could spark their enthusiasm for securing the job. It would have been nice if the onboarding experience of job seekers shared a similar percentage with well-planned interviews.

(Source: Shortlister)

33. 33. 89% of Individuals Seeking Employment See Their Mobile Devices As a Viable Tool to Search For Job Opportunities, With 45% Using it At Least Once Daily.

The line between conventional websites for jobs like LinkedIn and social media has become blurred recently, with social media platforms becoming popular cyberspace to create awareness of brand products, services, and job vacancies. These social media platforms are usually accessed via mobile devices. Business owners should see an opportunity in this trend and redesign their social media platforms with features to enhance the mobile device experience of mobile users.

(Source: Statista)

34. 16% of Submitted Applications For Jobs Are Done Through the Use of Mobile Devices.

According to a report by PageUpPeople, feedback from folks who seek employment accounts for 16% of applications submitted to an organization. This could be improved by enhancing the interface of apps to access a brand’s social media platform.

(Source: OnHires)

35. 84% of Organizations Use Social Media Cyberspace to Recruit New Talents.

The use of social media as a job recruiting tool by business owners has aided in reaching out to more target audiences that could have been omitted using conventional recruitment methods. It also gives these organizations access to talent diversity as people from various work experiences are on social media platforms.

(Source: NovoResume)

36. Talent Diversity and Flexibility Are Favored Over Experience.

We live in an ever-changing business world. As a result, recruiting people who can easily adapt to new trends and skill sets is favored over a linear progression of a specific career over a while. The average employee must have more than one skill set to survive in the business world, which has become extremely competitive. Certainly, NOT PUTTING ALL YOUR EGGS in one basket rings a bell.

(Source: NorthOne)

37. 70% of the Workforce in the World Are Passive Talents, Whereas 30% Are Seeking Jobs.

Despite not actively seeking jobs, they are part of the workforce globally with various untapped raw talents that could be game changers for an organization. Business owners should also look into this uncharted demography despite the challenges of getting their attention first, as companies usually have access to talents that respond to their job vacancies or through referrals.

(Source: Apollo)

Statistics on the Work Culture of a Company

Work Culture of a Company

38. 46% of Folks Seeking Employment Have Reported That an Organization’s Culture or Work Ethic Matters to Them.

A company’s values and work ethics could either command loyalty or make a recruit feel out of place when their values do not align with the company’s. It becomes prudent to include the organization’s policies and discounts on platforms used for recruitment. The earlier the company attracts people who align with its culture and procedures, the more convenient it will be for both parties. Also, the job seeker will likely have a better experience on both the interview and onboarding exercises.

(Source: LinkedIn)

39. 70% of Professionals in America Refuse to Work For An Organization Because of Work Ethics and Culture.

(Source: Finances Online)

Respondents have reported they chose not to work in an establishment when they discovered the company’s ethics did not align with their ethics. One of them is religion, according to a report by LinkedIn.

(Source: Recriutee)

40. 25% of Professionals Admitted to Resigning From Jobs Because of Company Culture and Policies.

The importance of work culture in a business institution cannot be overstated, with one-fourth of professionals in America leaving their jobs for companies whose policies align with their social norms and ethics.

(Source: Recruit CRM)

41. A Poll Conducted in America Shows That An Inclusive Culture is Vital in Securing and Retaining New Talents.

A survey with 1,300 professionals found that policies matching employees’ values are important for keeping them in the company. Therefore, employers must consider this a key tool in their hiring process.

(Source: Fit Small Business)

42. 1 Out of 3 Professionals in America Are Appreciated For Their Work.

A report by TeamStage shows that a vast majority of employees are not appreciated for their work and are responsible for many leaving their jobs on a quest to find companies that will understand them.

(Source: NorthOne)

Diversity Recruitment Statistics

Diversity Stats

43. 57% of Professionals in the US Believe Companies Should Include Diversity and Should Work to Achieve it.

With the power dynamics gradually shifting from employers to job seekers in the job market, potential recruits expect diversity to be an integral part of the company’s work ethic to provide flexibility.

(Source: Shortlister)

44. Organizations With Diverse Teams Are More Inclined to Have a 33% Profit Margin That Exceeds the Average.

When a company has diversified talents, productivity and flexibility will improve, generating more revenue. When professionals with different skills work together as a team, it gives birth to new and innovative ideas that could be game changers for the business institution.

(Source: Recruit CRM)

45. Companies With Professionals From Different Racial Backgrounds Will Likely Outperform Competitors.

Diversity in race in an institution correlates with variety in talents as people from different ethnic groups tend to bring unique skills and experiences with them, which could be innovative, according to a report by ApolloTechnical.

(Source: LinkedIn)

Conclusion

As much as there have been improvements in recruiting talents by business owners, a lot of gap is left to be filled. There is room for improvement from business and brand owners to meet the expectations of potential employees. When these conditions are fulfilled, it ensures that work is efficient and results in higher revenue, which is the ultimate goal.

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