Wouldn’t you like to know?...
How many people were hired in 2018, and how that number increased in 2019?
What is the average number of applicants per job? What is the average cost per hire?
How many times has a hiring manager hired the wrong candidate for a job? How long does it take for an applicant to get hired?
Getting the correct numbers when it comes to jobs, can be quite tricky and confusing…
But, wouldn’t it be helpful and less time consuming if you got all this information together in one place, without having to do the nerve-wracking process of searching for them individually by yourself?
We have made your job easier, by taking all the time, to get you those numbers! How liberating!
Whether you are a recruiter or job seeker, we have gathered the most recent statistics to enable you to know what is going on in the job market. And possibly help you land the best candidate, get the best job, and also know the best strategies and tips to stay ahead in your chosen field.
If you're ready, buckle up let’s get right into it.
Hiring Statistics Overview
In this article we are going to be looking at:
Job search statistics
3.3 billion out of the 3.5 billion of the world’s workforce are employed (Source).
48% of women are in the workforce, compared to 75% of men (Source).
2 billion workers, which is 61% of the workforce are under informal employment (Source).
41% of employees say they won’t hire a candidate that doesn’t have an online presence (Source).
Only 12% of employees agree that their company does a good job of onboarding new hires (Source)
Employers believe that social media marketing would be the most sought after skill by 2020, followed by data analysis and predictive modelling (Source).
91% of employers prefer the candidate to have work experience. Only 65% want a candidate with relevant work experience (Source).
56% of companies are willing to pay, for employees to get skill-based training outside the office so that they can move to a higher-skill job within their own organization (Source)
The talent shortage is a real issue in the current market. Almost 72.8% of employers are having a difficult time finding skilled candidates and 45% of employers are concerned about finding employees with the necessary talents (Source).
92% of workers would willingly leave their current place of employment if they got an offer from a company with an excellent corporate reputation (Source).
61% of employees say that the realities of their new job were very different from the expectations they had during the interview process (Source).
174.1 million people were unemployed in 2017, 172.5 million underemployed people in 2018, 173.6 in 2019 and estimated to be about 174.3 million in 2020 (Source).
Not including professional skills while searching for a job can hurt a resume as much as one year of unemployment. The damage is limited for those who had temp agency employment (Source).
Most applicants can’t find a job because their resume isn’t job-specific (Source)
Many employers won’t hire new workers because they feel that retraining current employees is more cost-effective than hiring new ones (Source).
33 % of employees report having more difficulty with training new employees and 18 % report difficulty with the financial cost that comes with onboarding (Source).
Millennials are the most unemployed and underemployed people in the job market (Source).
24% of the unemployed demographic have been unemployed for six months or more, and only 10% of them are able to find jobs. Many have dropped out of the labour force, due to this (Source).
People who have been unemployed for a short term (less than 5 weeks) are three times more likely to get a job than people who have been unemployed for longer (Source).
Most job seekers who are overqualified can’t find jobs (Source).
People who are 55 years or more remain unemployed longer than people who are 35-44 years of age because recruiters see them as having more experience level than required for the job (Source).
79% of job seekers admit to using social media to look for a job (Source).
Career sites are used more for job searching and recruiting as opposed to other sites (Source).
Recruiters take an average of 6 seconds to scan through a resume/CV (Source).
Out of 6 applicants that applied for a job, only 1 will be called to an interview (Source).
90% of applicants agree that it is important to work for a company that is transparent (Source).
64% of candidates research a company online after receiving a job offer and 37% will move on to another job if they can’t find the company online (Source).
31% of job seekers on Linkedin say that a flexible working arrangement is important when they are considering a job (Source).
52% say that the number of cause of frustration during a job search process is the lack of response from employers (Source).
50% of applicants won’t take a job from a company with a bad reputation even if they increase the starting salary (Source).
69% of job seekers are more likely to take a job if the company has excellent brand management (Source).
Each job offer gets an average of 250 resumes and out of that, 4-6 candidates will be called for an interview and only 1 will be hired.
63% of recruiters say that talent shortage is their biggest problem
87% of recruiters use Linkedin to check for candidates
Only 28% of recruiters are hiring via job boards
It takes an average of 27 working days to acquire a new hire(Source)
Referrals are 55% hired faster than those who are hired through a job site
The average cost per hire is $4,129 cents
Employers who have had a bad hire affect their business, in the past year has had an average cost of a bad hire is more than $18,700 (Source)
80% of talent professionals say that soft skills are important to their companies’ success (Source)
89% of talent professionals say that bad hires typically lack soft skills (Source)
Candidates won’t complete an application that takes longer than 20 minutes.
51% of candidates have to come for three weeks before they get the job.
Recruiters say that 38% Millennials can be retained at a job with work from home
39% recruiters use 1-3 days to train prospective hires to improve retention rate (Source)
50% of recruiters that currently have job openings, but no one to feel them (Source).