8 Hiring 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 July 2020):
- It was reported of the 23,000 new hires 48% of them failed within 16 months and of these, 89% left because their attitudes did not align to that of the organisation. Only 9% failed because of a lack of skills.
- 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.
- The average cost of replacing a member of staff earning is $5,000 and $11,000.
- On average there will be between 59 and 102 applicants for advertised jobs. Generally between 3% and 8% of these applicants get an interview.
- Many operations use talent-management software to screen resumes that look at keywords to screen out up to 79% of applicants without ever looking at a resume or cover letter
- On average new talent take between 24 and 28 weeks to reach optimum productivity.
- companies report that 1 in 18 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.
- Companies on average look for the consider the following traits before making an offer: 30% look for multitasking skills; 29% look for initiative; 19% look for creative thinking; and 13% look for something else in the candidate.
- It is interesting to note that only 7% of unsuccessful candidates were given feedback that was moderately useful from hirers. Only 4% of candidates received valuable feedback.
- Other than the date, name of the contact and location, only 44% of candidates receive any information prior to an interview.