Every industry is rapidly evolving in today’s world, and the recruitment industry is not left out. The job market is undergoing some major changes recently, and the hiring process is bound to adjust. In case you are interested in the latest trends, statistics, and data in recruitment and hiring, here is a thorough list that will guide you through everything important you need to know.
- There is a real talent shortage in the current market – almost ¾ of employers find it difficult to find skilled candidates, and 45% of employers are concerned about whether they will find employees with the required talents.
- 74% of recruiters expect that the hiring will become more competitive
- The limited supply of skilled professionals leads to more than half of US companies considering signing bonuses for hires from business school.
- Certain fields are in higher demand – more than 5 million jobs in IT are expected to be added worldwide by 2027.
- Most sought-after IT specialists are software developers, mathematicians, and statisticians.
- More than 35i% of the workforce in the US consists of gig workers, and the number is expected to continue rising.
- By 2020, 50% of the workforce in the US are millennials.
- 69% of the candidates think that the employer response could be improved as most of the times, the average response time is a couple of weeks.
- Recruiters need to be reasonable with hiring timelines – it takes an average of 27 working days to acquire a new hire.
- 45% of recruiters have difficulties filling positions because of the shortage of talent.
- Social media is becoming a common tool for recruitment – 84% of organizations use social media to hire and recruit.
- 8 out of 10 recruiters use references as a screening method.
- Strong conversational skills and enthusiasm are not so important anymore – recruitments have declined by 20%.
- Lack of experience is no longer a major factor – a four-year college degree is enough for an entry-level position, according to 87% of recruiters.
- Video technology is currently commonly used, and video interviews are used to shorten the time frame.
- 75% of recruiters have experienced a change of mind in candidates even after the signing of an offer – and in 53%, the reason was that they have received a better offer.
- 77% of recruiters hire someone who did not seem like the best fit initially.
- More than half of the candidates use social media to research the company in which they are interested.
- 80% of millennials are open to working abroad.
- 73% of employees report that workplace flexibility improves their work satisfaction.
- 69% of executives consider diversity and inclusion as important issues that can lead to strong performance within the organization.
- 78% of hiring managers and recruiters say that diversity is the main factor affecting how they hire. Still, only 30% have specific policies and goals that cater to gender and racial diversity hiring.
- 37% of recruiters plan to actively adopt and engage with diverse hiring, and 57% say that they have strategies created to attract diverse candidates.
