In today’s job market, recruitment has evolved into a data-driven process, where statistics can help shape hiring strategies and decisions. From candidate sourcing to retention, understanding key metrics can help your organisation strive to attract top talent.
But which statistics truly matter in the world of recruitment?
Top 7 recruitment statistics every HR professional should know:
1: Candidate driven market
Candidates have the upper hand currently with 86% of recruiters and 62% of employers mentioning the job market is entirely candidate-driven.
Recognising the candidate’s priorities and improving your hiring processes will help with this current trend.
2: Rise of video interviews
In today’s evolving job market, video interviews are rapidly becoming the new norm, with 61% of recruiters anticipating their widespread adoption, according to Onrec.
Forbes also reported that nearly 25% of job seekers now prefer live video interviews over in-person ones. Video interviews not only save time but also offer flexibility to all parties.
3: Candidate experience takes centre stage
Candidates hold significant power in today’s job market, a positive experience can make or break a placement.
CareerPlug reveals that 58% of job seekers have turned down job offers due to bad experiences in the hiring process. It’s clear that how a candidate perceives their recruitment journey can have a high influence over their decision to join your team.
Companies that have invested time in candidate experience reported a 70% improvement in the quality of their hires.
4: Automation will increase productivity
According to HubSpot, 70% of survey participants agree that integrating automation into sourcing would boost productivity. Leveraging technology in recruitment can yield benefits.
Automation streamlines candidate pre-screening, automates repetitive tasks, and provides comprehensive tracking and management of the hiring process. So, companies can harness the power of appropriate software to enhance their efficiency and effectiveness in discovering and attracting top-tier talent for their job openings.
Read our previous blog on how AI can improve productivity here!
5: Use AI to limit unconscious bias
Studies indicate that implementing blind recruitment practices can significantly enhance women’s chances of being hired by up to 46%, with men being twice as likely to secure positions. This approach involves anonymising candidate details to reduce unconscious bias, ultimately leading to a more diverse workforce.
Interestingly, despite the benefits of diversity in hiring, only 11% of companies utilise AI to identify and engage with hard-to-reach candidate pools. To actively recruit a more diverse talent pool, consider investing in AI.
6: Candidates seek diversity in the workplace
76% of job seekers prioritise workplace diversity when evaluating potential employers. Prioritising diverse hiring practices is essential to attract top talent, as failure to do so may lead to candidates wearing away.
7: Communication is key
Enhancing communication and engagement efforts during the pre-boarding phase has the potential to significantly enhance the onboarding experience. The Talent Board indicated an impressive 83% improvement.
Additionally, offering candidates thoughtful feedback can make a substantial impact on their perception of a company, as reported by LinkedIn, which shows that candidates are four times more inclined to consider the organisation for future opportunities when provided with such feedback.
The above seven recruitment statistics shed light on the evolving landscape of talent acquisition and management. Armed with these recruitment statistics, you can make informed decisions, adapt your strategies, and thrive in the competitive world of recruitment.
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