33 Key Recruiting Statistics for Hiring Managers

In a corporate setting where every edge counts in creating leverage over competitors, recruiting strategy plays a crucial role in the success of a company. In the midst of a global pandemic, hiring has changed dramatically and companies are adjusting on the fly.

To better understand recruiting trends and patterns, below is a list of recruiting statistics to help companies, hiring managers, and job seekers.

Table of Contents

 

COVID-19’s Impact on Recruiting

  • The current unemployment rate in the United States in May was 13.3% (Bureau of Labor Statistics, 2020) 
  • It is estimated that around 42% of the recent pandemic-related lay-offs will result in permanent job losses (University of Chicago, 2020) 
  • The pandemic has caused near-term layoffs to rise to 12.8%, while the new hires equal at 3.8%, or in other terms, three new hires per ten layoffs (University of Chicago, 2020) 
  • Virtual recruitment has become the most used method in the hiring process (Yello, 2020) 
  • 60% of workers are confident they can be just as efficient working remotely (Yello, 2020) 
  • 60% of companies currently have hiring freezes (Meetfrank, 2020) 
  • Due to the COVID-19, there has been a 135% rise in remote job offerings (Meetfrank, 2020) 
  • Only 16% of HR professionals in the U.S. are prepared to adapt to a virtual recruiting and hiring process (Doodle, 2020) 
  • 78% of organizations have changed the volume of recruiting and hiring, the majority of them freezing hiring or slowing (TLNT, 2020) 
  • Only 5% of organizations reported increasing the volume of new hires (TLNT, 2020) 
  • Less than 2% of respondents said that COVID-19 has not disrupted their recruiting and hiring operations (TLNT, 2020)

 

Pre-Pandemic Global Workforce Statistics

  • There were 7.9 million job openings in the beginning of 2020 (Money, 2020) 
  • More than one-third (35%) of the workforce in the U.S. is Millennials. (Pewresearch, 2018) 
  • The global workforce consists of 70% passive job seekers and 30% active job seekers (Pewresearch, 2018) 
  • By 2025 Millennials will make up 75% of the global workforce (Deloitte, 2019) 
  • 86% of companies will invest in intelligence sourcing software (Entelo, 2018) 

 

  • Structured interviews are the most frequent (74%) interview technique used by HR professionals (Linkedin, 2019) 
  • 82% of companies use some form of pre-employment test to assess candidates (SHRM, 2018) 
  • Work samples and “ability to perform” assessments can give a company up to 55% evaluation of an employee’s performance (Furstperson) 
  • The three most important trends to the future of recruiting and HR are soft skills (91%), work flexibility (72%), and pay transparency (53%) (Linkedin, 2019) 
  • 56% of companies offer signing bonuses to new business school hires, the median bonus is $10,500 (GMAC, 2018) 
  • 80% of respondent say soft skills like creativity, adaptability and collaboration are increasingly vital to company success (Linkedin, 2019)

 

Recruiting Process Statistics

  • The average length of the hiring process is 36 days (SHRM, 2017) 
  •  On average job postings will receive 250 resumes. Of those 4-6 candidates will get an interview (Glassdoor, 2015) 
  • 77% of recruiters use LinkedIn for recruitment, making it the most used channel (Jobvite, 2018) 
  • Over 50% of recruiters reach out to candidates via email; the second most used channel is via LinkedIn InMail (Entelo, 2018) 
  • 77% of professionals want to hear good news by phone, while 66% want to hear bad news by email (Linkedin, 2015) 
  • If rejected, 94% of professionals want to hear interview feedback (Linkedin, 2015)

 

Challenges for Recruiters

  • The biggest challenge for 76% of recruiters is attracting quality candidates (Cmdrecruitment, 2019) 
  • 41% of recruiters say entry-level positions are the hardest to fill (Indeed, 2017) 
  • The average opening sat unfulfilled for 28.1 days (Glassdoor, 2017) 
  • 17% of recruiters do not know or do not track what their average cost per hire is (Yello, 2020) 
  • Recruiters on average spend a third of their work week sourcing candidates (Entelo, 2018)

 

Cost of a Bad Hire

  • Nearly three-in-four employers are affected by a poor hire (Careerbuilder, 2017) 
  • On average, companies lost $14,900 on every bad hire (HRexchangenetwork, 2020) 
  • Bad hires can result in a 32% drop in employee morale, and a 36% drop in productivity (TheUndercoverRecruiter) 
  • 89% of recruiters say bad hires typically lack soft skill (Linkedin, 2019) 
  • The main reason people change jobs is career opportunity (Linkedin, 2015)

 

Onboarding Statistics

  • Great onboarding process can improve new hire retention by 82% and productivity by over 70%(Glassdoor, 2015) 
  • Only about 1-in-10 employees strongly agree their organization does an excellent job of onboarding new employees (Gallup) 
  • Negative onboarding experiences make new hires twice as likely to look for other opportunities (Digitate)

 

Work Culture Statistics

  • 84% of recruiters have reported that culture fit has become a key factor when hiring (Cubiks, 2016) 
  • For 25% of respondents better company culture is the top reason for a job change (Linkedin, 2017) 
  • Two-thirds of job seekers said that a diverse workforce is important when choosing a company (Glassdoor, 2014)

 

Recruiting plays a key role in the success of a company. The tools recruiters use can aid or detract from that work. Learn more about the best recruitment software, applicant tracking systemrecruiting CRMvideo interviewing tool, or candidate sourcing tool.