- Finance Management
9 Hiring 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 September 2018):
- It was reported of the 18,000 new hires 52% of them failed within 14 months and of these, 89% left because their attitudes did not align to that of the business. Only 9% failed because of a lack of skills.
- Organisations spend on average 6 and 7 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.
- The average cost of replacing a member of staff earning is $5,000 and $14,000.
- 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 78% of available jobs never advertised you should never stop career networking.
- Many enterprises 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
- Companies on average look for the consider the following traits before making an offer: 34% look for multitasking skills; 32% look for initiative; 22% look for creative thinking; and 14% look for something else in the candidate.
- 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.
- Other than the date, name of the contact and location, only 38% of candidates receive any information prior to an interview.
- It is interesting to note that only 5% of unsuccessful candidates were given feedback that was moderately useful from hirers. Only 4% of candidates received valuable feedback.
- On average new talent take between 24 and 28 weeks to reach optimum productivity.
For more Finance Management Career Advice see below additional resources to find the perfect job:
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