Employers with a few exceptions have enjoyed the upper hand in the hiring process for decades. But recruiting trends are structurally shifting the employment landscape and it seems job seekers, especially those with in-demand skills, are holding the trump cards.
- More than half (54%) of employers admit that over the past five years it has grown increasingly difficult to find qualified candidates.
- The average time to hire workers to fill vacant job openings in the United States jumped to a record high this year. For Health Services – 43.8 days needed to hire workers; Financial Services – 41.0 days; Government – 39.0 days; Information – 36.1 days; Manufacturing – 32.9 days.
- 71% of people in the labor force say they are actively looking or open to a new job; 58% of adults look at jobs at least monthly.
- More than 2/3 of job seekers, regardless of highest level of education, start their job search using Google. For those with a Bachelor’s degree or higher, it’s more like 75 percent. The unfortunate reality is that employers often underestimate how much of an impact a poor candidate experience can have.
- 69% of job seekers say they are less likely to buy from a company they had a bad experience with during the interview process; and yet 58% of employers say they don’t communicate to applicants how long the application or interview process will take. 65% of job seekers say they are less likely to buy from a company they didn’t hear back from after an interview; 45% of job seekers say they are less likely to buy from a company they received a low offer letter from.
- For every 100 candidates who click through from a job advertisement to a recruitment portal on a desktop, eight will complete the application. For mobile click-throughs, the completion figure is just 1.5%.
- Lengthy, complex and time consuming applications act as a barrier to mobile applicants. Application that take more than 15 minutes to complete experience a 365% degradation in completion rates: 1 out of 10 candidates complete a job application that asks fewer than 25 questions and is shorter than 5 pages in length. The number is cut in half (5%) when more questions are asked and the application is longer.
- Compensation matters but it’s not the only factors. 77% of candidates were attracted to a new job because of good pay/compensation. But 54% started a new job based on a good location and 51% for flexible hours.
- 65% of employed adults say they would feel more confident that a job is the right fit if they found the company and job on their own versus if a recruiter contacted them.
- On average, job candidates use more than 18 different sources to make a decision!
Let us hear what other recruiting trends you see impacting business today…and in the future! Post your comments below.