16 Intriguing Stats on the Current State of Recruiting

ClearCompany knows the importance of staying informed on the latest recruitment and hiring trends. When hiring managers understand the wants and needs of job seekers, they are better equipped to attract, hire, and retain A Players. We’ve compiled statistics and trends that showcase the current state of recruitment, highlighting the need for modern and flexible tools that enable an enjoyable hiring experience. 

Please properly credit the source of the statistic (linked) when using it in your own work.

Keeping up with trends in recruitment and hiring, like the impact of utilizing software, is an important part of creating effective strategies. Staying informed also makes it easier to determine which software will best fit your needs and help recruiters and HR professionals remain competitive in a tough hiring landscape.

Using new strategies and incorporating new technology not only aids recruitment and hiring but also contributes to higher retention among both new and tenured employees. We’ve compiled a list of relevant recruitment statistics so you can keep your finger on the pulse, exceed candidate expectations, and create a focused, reliable strategy for recruiting the best talent on the market.

Recruitment Statistics for Attracting Top Talent

There’s no denying that the recruitment landscape has changed dramatically over the last two years. The way that recruiters approach top talent needs to be reflective of current market trends. With a small pool of job seekers and lots of open positions, recruiters are facing challenges like lower candidate volume, increased competition for top talent, and higher expectations from candidates.

• 19% of job seekers surveyed said they had turned down a job after signing an offer letter, but before their first day; of those, 58% turned down the offer for a better one. (Source)

• More than 20% of companies say they feel they can’t meet the demands of top candidates — an opportunity for your company to offer what others can’t. (Source)

• 73% of job seekers state that the job hunting process is a highly stressful event in their life. However, recruiters can simplify the process by providing a clear timeline: 83% of candidates say this small measure would greatly improve the overall hiring experience. (Source)

One reason that recruitment is stressful for recruiters currently is the competition for the best candidates; top talent is getting snatched up quickly. In fact, studies show that top talent gets hired within 10 days. The key to efficient recruitment, then, lies in attracting two of the largest groups in the workforce — passive candidates and millennials.

• 73% of job seekers are classified as passive candidates, meaning they’re only casually job searching or not actively looking at all. (Source)

• Experts estimate that within the next five years, 75% of the global workforce will consist of millennials. (Source)

Utilizing software tools and resources to better tap into these markets will not only expand your available candidate pool but will also give you an advantage over other companies in the competition for top talent.

Applicant Tracking System (ATS) Statistics

It’s no surprise that recruiters can quickly become overwhelmed when reviewing and screening dozens of applicants for an open role. Considering that any given corporate job posting receives around 250 applications, modern recruiters need the support of a comprehensive and analytical Applicant Tracking System to create a more efficient process. Multiple studies support implementing an ATS into your hiring process:

• Applicant Tracking Systems are used by a majority of recruiters — 75%, in fact.  (Source)

• In addition, 42% of organizations say that investing in tools to accelerate hiring is a top priority this year. (Source)

• Of surveyed respondents, 86% of recruiting professionals say an ATS helps them hire faster. (Source)

• ATSs enable faster and better hiring: 78% of hiring professionals say that the candidates they hire through their ATS are of higher quality than previous applicants. (Source)

• Overall, 94% of organizations say that using an ATS has positively impacted their hiring process. (Source)

While an ATS can help you streamline the initial screening process, recruiters still need to find ways to create an enjoyable experience for candidates. Candidates have higher expectations for the recruitment and hiring process in today’s job market, including easier applications and faster responses. One way to keep up with expectations is by utilizing modern application tools like Text-to-Apply.

Text-To-Apply Statistics

Why should your organization consider using mobile applications or Text-to-Apply features? Text and mobile-friendly applications bring added flexibility and functionality to your hiring pipeline. Job seekers can easily apply to open positions with a text message or a few taps on their phone. Text-to-Apply tools also bring more visibility into the hiring process, giving job seekers more clarity about the state of their application. The statistics show that utilizing mobile recruitment tools is much more effective at receiving a response than traditional methods:

• 97% of adults in the U.S. own a cell phone, and 95% of texts are opened and responded to within three minutes. (Source)

• 70% of job seekers use their phones to search for open positions. (Source)

• Modern job seekers prefer using text messaging to communicate with businesses. 89% of job seekers would rather text a company about an open position than email or chat on the phone. (Source)

Text messaging is not only a great way to quickly communicate with candidates, but is also a great way to increase the likelihood of your recruitment message being opened in the first place. 

• In fact, the average open rate for any given text marketing campaign is 98%. This is a whopping 20% higher than the open rate for email campaigns. (Source)

• Candidates are responding more quickly to text messages than other forms of communication, with the average response time for texts sitting at upwards of 60x faster than for email. (Source)

• The text updates don’t have to stop once the interview happens. Of surveyed prospective workers, 64% say they would prefer to hear about a job offer over text rather than through an email or call. (Source)

If you’re feeling the crunch when it comes to finding exceptional talent, you aren’t alone. Today’s recruiters need to meet candidates where they are to attract and hire top talent. By expanding your recruiting strategies to utilize social media platforms, online job boards, and mobile application tools, you can increase your talent pool and build a hiring pipeline that curates higher-quality candidates.

ClearCompany’s rapid recruiting features help you to quickly find, hire, and retain A Players. With features that support recruiters and hiring teams every step of the way, our mobile recruiting tools can give your strategy the boost it needs. With tools like discounted job board posting, automated interview toolkits and scorecards, robust recruiting analytics, and digital offer letters, your recruiting team can spend more time interacting with candidates and less time on tedious tasks. To learn more about our rapid recruiting features, reach out to our team of experts. We’re standing by, waiting to help you transform your recruiting strategies!

RELATED ARTICLES:

More ways to recruit in a tough talent market:

Keep reading to learn about other effective recruiting and hiring strategies for today’s difficult talent market:

• Navigating Recruitment In The Midst of Talent Scarcity 

• Prepare Your Post-Pandemic Recruitment Pipeline

• Quick Wins to Boost Recruiting in a Hot Talent Market