To abstain from falling into expensive potholes along the street to building the most engaged, various and qualified workforce possible, we’ve compiled a huge number of supportive Recruitment statistics.
2018 was a phenomenal year for the recruiters in the large organizations. Recruitment statistics show that 44% of the top companies were looking for FTEs (Full-time employees) and 51% of them were looking for a temporary workforce.
Challenges Faced by the Recruiters
- Candidate-Driven Markets: The top candidates have multiple options in the industry that present job-hopping opportunities. Therefore, they do not stay loyal to their current employer for a long time.
- More than 73% of the candidates today are only passively seeking a job
- Top candidates are picked up by the recruiters within 10 days
- Nearly 21% of the recruiters feel that they cannot meet the demands of the deserving candidates
- Recruitment statistics for Shortage of Talent: While there is a huge pool of candidates ready to take the jobs, only a few of them have the skills to handle the job correctly.
- Nearly 72.8% of the recruiters are finding it difficult to find the right talent
- Over 86% of the employees that are perfect for a position in the company are recruited by other employers
- Studies show that over 42% of the companies fear a lack of talent in the market
- Negative Branding for the Employers: Employers that have a negative image on the review sites find it difficult to hire the right talent.
- Over 55% of job seekers do not apply for a job after seeing the bad reviews for a company
- 84% of the companies believe that the reputation of the company plays a major role in the ease of hiring process
- On a survey, over 50% of candidates said that they would not work for a bad employer even on a pay hike
Top Trends in the Recruitment Process
These trends governed the recruitment process in the top companies in 2019.
- Data-Driven Hiring Process: Companies assess the candidates on the following data:
- 59% on the soft skills of the individual
- 54% in the interview process
- 28% in the virtual reality assessments
- Throwing Diversity into the Mix:
- Several companies focused on hiring with a more gender neutral and ethnicity neutral approach.
- Using the Latest Technologies for the Interview Process: Companies believe that new interview tools helped them with:
- Increasing customer representation by 49%
- Improve company performance by 62%
- Improve company culture by 78%
- Using Artificial Intelligence and Automation for the Recruitment: The top companies are already using interview tools embedded with Artificial Intelligence (AI) embedded technologies for the recruitment process. These tools help companies with the following:
- Increase employee retention by 56%
- Evaluate skill gaps with 50% more accuracy
- Increase the quality proposition/offer to the candidates by 50%
Recruitment statistics show that AI technologies have helped companies reduce the workload of their hiring force and helped them hire more high-quality candidates in a shorter period. They have also simplified and streamlined the overall recruitment process to a great extent.