- Procurement Management
10 Hiring Facts
At Staffing it is interesting to read some of the interesting stats from the recruitment industry. Whether you are a recruitment agency, employer or candidate you will be surprised and facinated with the following recruiting facts (Updated September 2018):
- It was reported of the 22,000 new hires 45% of them failed within 18 months and of these, 86% left because their attitudes did not align to that of the company. 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 77% 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 $13,000.
- Many organisations use talent-management software to screen resumes that look at keywords to screen out up to 74% of applicants without ever looking at a resume or cover letter
- On average there will be between 65 and 104 applicants for advertised jobs. Generally between 6% and 10% of these applicants get an interview.
- On average new candidates take between 23 and 27 weeks to reach optimum productivity.
- Companies on average look for the consider the following traits before making an offer: 31% look for multitasking skills; 29% look for initiative; 19% look for creative thinking; and 14% look for something else in the candidate.
- 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.
- It is interesting to note that only 5% of unsuccessful candidates were given feedback that was moderately useful from hirers. Only 3% of candidates received valuable feedback.
- Other than the date, name of the contact and location, only 34% of candidates receive any information prior to an interview.
- American Staffing Association
- The Australian Financial Review
- Recruitment & Employment Confederation
- The New York Times
- The Age
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