Top Recruitment Statistics You Need To know 2023: Hiring Facts and Figures, Trends

Last Updated on: August 29, 2022 by | Fact Checked

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In this post, we will discuss Recruitment Statistics 2023

Hiring the finest individuals for your company’s open positions is critical to its success. Many changes have occurred in recent years, primarily as a result of the worldwide health crisis.

Furthermore, modifications in fresh talent acquisition tactics as well as how potential applicants make job acceptance choices have been brought about by modern technologies.

Recruitment Statistics

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You should be able to align your recruitment tactics and business more effectively if you improve your hiring and recruitment knowledge.

Let’s get started with a comprehensive collection of recruitment & hiring data to give you a leg up on the competition.

 Recruitment Statistics 2023

  • Enhancing caliber of hire (52 percent), enhancing retention rate (24 percent), enhancing hiring time (23 percent), developing the talent pool (22 percent), & diversity hiring (22 percent) are the top five most significant recruiting initiatives.
  • Eighty percent of the leading recruitment firms have offices in various countries.
  • Recruiters use references to screen candidates in eight out of ten cases.

Data on Employer Branding & Recruiting

  • A company with a good reputation attracts 50 percent more competent applications.
  • Prior to applying for a job, 86 percent of passive candidates research a company’s brand.
  • Company diversity is important to 76 percent of job searchers.
  • If a corporation had a negative image, 75 percent of Americans just wouldn’t take the job. 
  • A solid employer brand lowers turnover by 28 percent and reduces hiring expenses by 50 percent.

Statistics on Team Member Onboarding

  • Almost half of those polled indicated they turned down a job opportunity because of a bad recruiting experience.
  • Within 6 months, 31 percent of new employees have resigned from their new position.
  • Approximately 36 percent of employers give applicants one to three working days for training.

Salary & Perks Stats for Team Members

  • Job seekers are prepared to give up to 12 percent of their annual salary in exchange for more training and flexibility.
  • Healthcare insurance (40 percent) is the most desired benefit, followed by holiday/paid time off (37 percent), performance incentives (35 percent), paid sick days (32 percent), 401k plan/retirement plan/or pension (31 percent), flexibility in work schedule (30 percent), & workplace perks (19 percent ).

Data on Workplace Culture

  • Increased skill testing is seen as a critical aspect of the hiring process by 64 percent of hiring managers.
  • According to 84 percent of firm recruiters, cultural fit is considered a crucial element in hiring.
  • The biggest reason for shifting jobs, as per 25% of respondents, is to improve the workplace culture.
  • When it comes to choosing a company, 2/3rds of job searchers believe that having a diverse team is critical.
  • 72 percent of Americans polled said they would or might consider quitting a firm for one with higher inclusive culture.

Facts and figures on Job Search

  • Because 45 percent of applicants search for employment on a daily basis using a mobile device, employers who fail to establish a smartphone-friendly job search experience are missing out on a lot of prospects.
  • Mobile devices are considered important in the job-search process by 89 percent of job searchers.
  • 54 percent of job candidates check employee feedback on career pages.
  • The payment information is examined by 52 percent of those polled.
  • 9 percent of job seekers said they save a job on their phone and apply on a computer later.
  • Because 80 percent of job openings go unfilled, don’t rely solely on recruitment events, staffing services, and job boards.

Data on the Recruiting Process

Data on the Hiring Process

  • Across all platforms, the typical time to recruit is 41 days.
  • A candidate who is declined and gets no response is twice as inclined to never apply again or do business with the company.
  • On average, 250 resumes are sent in response to a job posting.
  • Following a referral from a team member, an applicant is 85 times more certain to be recruited.
  • It has a positive impact on team member engagement when a member of the team is well matched to their role.

Data on Hiring Length

  • It takes an average of 36 business working days for a firm to hire new employees.
  • Companies that recruit on a regular basis report a 55 percent reduction in time to hire.
  • In 2017, the typical opening remained unfilled for 28.1 days.
  • Typically recruiters spend 1/3rd of their week sourcing candidates.

COVID-19’s Impact on Hiring Trends

  • Employees were hesitant to shift employment in the initial days of the epidemic, resulting in a 47 percent decline in applications throughout all professions.
  • Hotels, entertainment, trade exhibitions, travel & tourism, conferences, manufacturing and bars, and restaurants were all affected by COVID in the United States.

Facts and Figures on Job Postings

  • 35 percent of job seekers look for vacancies on social networking sites.
  • To expedite the recruitment process, 44 percent of organizations use readily available information such as social media profiles.
  • 51 percent of respondents felt a job posting with visual features such as photographs or videos will make the organization more appealing.
  • You’ll get 75 percent more clicks if you provide a salary range in your listing than if you don’t.
  • The most sought-after soft skills, as per SHRM (Society for Human Resource Management), are teamwork, flexibility, dependability and problem solving.
  • SHRM also highlights that the language used in job postings can dissuade a wide range of prospects.

Stats on Recruiting Software

  • BambooHR, Workday, Greenhouse, SmartRecruiters, and Submittable are the most prominent applicant tracking systems.
  • Recruitment software is used by almost 98 percent of Fortune 500 organizations.
  • Investing in new hiring technology, according to 68 percent of recruiters, is the best approach to boost recruiting performance.
  • Using hiring software has a favorable impact on 94 percent of HR professionals’ hiring processes.

Stats on Digital Recruiting

Recruiting Statistics with Artificial Intelligence

  • Eighty percent of executives believe AI may assist to boost human resource productivity and performance.
  • Responding to questions from potential applicants, offering training and information as part of the onboarding process, monitoring team member development, and acting as a personal assistant for scheduling, filing, and assessments are just some of the ways AI may aid the recruitment process.

Recruiting Statistics Chatbots

  • When chatbots are deployed on job websites, 95 percent more job applicants become leads, 40 percent more job applicants finish an application, & 13 percent more job applicants click apply on a job posting.
  • Benefits and remuneration, job search and applied and application status are the most typical questions candidates ask chatbots about

Statistics on Social Recruiting

  • As more than three-quarters of job applicants are inclined to utilize social media for their job hunt, failing to include it in your interview process could result in a considerable loss of potential hiring volume.
  • The percentage of job hunters who use social media increases dramatically for young job applicants in their first 10 years of employment, reaching more than 86 percent.
  • Three-quarters of staff believe their bosses don’t promote their company’s brand sufficiently on social media. 
  • Only 33 percent of businesses in 15 global marketplaces motivate their employees to utilize social media, which indicates that future employees are less likely to see positive information about the organization.

Statistical Obstacles for Recruiters

  • For 76 percent of employers, finding quality prospects is the most difficult task. 
  • As per 41 percent of recruiters, entry-level roles are the most difficult to fill. 
  • Recruiters struggle to discover qualified applicants in 72.8 percent of cases.
  • Before being hired, top applicants are usually only available for 10 days. 
  • 86 percent of the best prospects for a job opportunity are already hired & are not actively looking for new work.
  • 46 percent of recruiters consider themselves to be more of a recruitment marketing expert.\

Data on Workplace Culture

Male vs Female Metrics

  • Flexible work schedules are important to 29 percent of males and 36 percent of females when considering a job.
  • In 41 percent of firms, the number of new employees for women and minorities has increased.
  • Women currently account for close to 49 percent of worldwide labor force participation, while men account for 75 percent.
  • Unemployment levels for women in Northern Africa & the Arab States surpass 16 percent. 70 percent of women want to work in paid occupations, irrespective of their employment situation.

Statistics on Leadership

  • Every day, about ten thousand baby boomers leave the workforce.
  • A staggering 79 percent of staff will leave their jobs due to a lack of recognition from their bosses.
  • In the workplace, just 15% of women serve on boards of directors.
  • Millennials will remain in their jobs for fewer than three years in 91% of cases.
  • 77 percent of businesses will have leadership shortages by 2019. 
  • At all levels, 83 percent of employers believe that cultivating leaders is critical.

Statistics on Diverse Hiring

  • Millennials are predicted to account for the majority of the workforce by 2025. 
  • Before taking a job, 80 percent of millennials consider if they are better suited for the corporate culture.
  • Growth chances are considered one of the finest employment rewards by 60% of millennials. 
  • Companies with a diversified workforce outperform their sector average by 15%. 
  • Companies that are ethnically diverse perform 35 percent better.

Worldwide Workforce Statistics Prior to the Pandemic

  • There have been 7.9 million job opportunities at the start of 2020.
  • There were 70 percent passive job hunters & 30 percent active job hunters in the worldwide workforce.
  • Intelligence sourcing software will be purchased by 86 percent of businesses.

Stats on the Global Workforce in the Event of an Epidemic

  • Due to the worldwide pandemic, unemployment in the EU is anticipated to climb to 8.6 percent by the end of the year 2021.
  • There was a 135 percent rise in remote job postings during COVID.
  • The epidemic has resulted in a 12.8 percent increase in layoffs.
  • Currently, 60% of businesses have put recruiting on hold.

Metrics on the Skill Shortages & Candidate Sourcing

Metrics on team member referrals

  • In the United States, shortages in skills have reached historic highs, with 69 percent of firms reporting difficulty filling positions.
  • According to estimates, there will be a worldwide human skill shortfall of around 85 million individuals by 2030.

Internal Hiring Metrics

  • Internal hiring is relied on by 36% of businesses. 
  • All other recruiting sources are 6x less effective than internal hiring.
  • Internal employees are more likely than external candidates to preserve organizational competence and keep up with their new tasks.
  • 66 percent of roles were filled from the outside, while 26 percent were filled from the inside in the year 2013.
  • External employment has the benefit of bringing in new ideas and skill sets to a company.

Statistics on Job Changes

Facts on the Reasons for Switching Jobs

  • Part-time remote workers make up 57% of the workforce.
  • In the future around 86, percent of employees want to work remotely at least part-time.
  • 90 percent of recruiting managers anticipate that remote work will persist in some form.
  • Video interviews are likely to remain the norm, as per 61 percent of recruiters.
  • 73 percent of recruiting managers said they intend to hire more freelancers in the future.

Statistics on Demographics

  • Since individuals work later in life, the typical working-age is 42.
  • The average working age is predicted to rise by nearly one year by 2030.
  • During a six-year span, 18 to 24-year-olds change occupations 5.7 times.
  • The average number of occupations held by people between the ages of 23 and 34 is 4.5.

Statistics on Generations

  • In 2021, Millennials and Generation Z are predicted to rule the job-changing trend.
  • One out of every four workers intends to change employment this year.
  • In 2020, 1 out of every 5 workers will have changed employment, with Gen Zers accounting for 33 percent and millennials accounting for 25 percent.

Data on The Costs of Bad Hires

  • Poor recruiting affects nearly 3 out of 4 businesses.
  • Every failed hire costs an average of $14,900 to a company.
  • A bad hire can cause a 32 percent decline in team member morale.
  • A 36 percent loss in output can be attributed to bad hires.

Leading Trends For The Future of Recruiting

For many job hunters, the recruiter is their first point of contact with a company, making the recruiter’s work extremely important. Let’s take a look at how recruitment is changing in order to fulfill changing demands.

  • Online Hiring: In a poll, 70 percent of businesses reported that at least 50% of their hiring & onboarding takes place online.
  • One-third of businesses say they are ready to employ remote employees from any location on the planet.
  • Automation: Human Resources Management Systems (HRMS) automate the candidate experience by assisting with interview scheduling, candidate tracking, and resume management.
  • Artificial Intelligence can be utilized to identify applicants, evaluate resumes, and arrange interviews.
  • Chatbots: Chatbots can assist in the conversion of more applicants and the generation of more candidate leads.
  • Predictive analytics gives data to assist employers in making the best decisions possible.
  • Benefits: Increasing benefits is a great approach to lure more applicants.
  • Recruiters are expanding their horizons by engaging on social media sites like Facebook, Twitter, Instagram, and others.
  • Candidate matching software: Candidate matching software, which uses AI and machine learning to automate application screening & shortlisting, is used by 32 percent of recruiters.

FAQ On Recruitment Statistics 

In their lifetime, how many occupations will the typical individual have?

In their lifetime, the typical individual works 12 jobs.

How many people apply for each position on average?

On average, 118 persons will apply for a solitary position.

How many of your new hires are duds?

Approximately half of all new recruits fail

How many applications are chosen for an interview?

With an estimate of 118 candidates, only 20% will be selected for an interview.

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Conclusion: Recruitment Statistics 2023

The year 2020 drove the world into disarray, but the global hiring picture has begun to improve. Data & HR statistics can assist in putting recruitment in context.

Knowing how the recruitment industry works gives you an advantage in the job market, which is why we’ve compiled these pointers of HR data.

Sources:

Andy Thompson

Andy Thompson has been a freelance writer for a long while. She is a senior SEO and content marketing analyst at Digiexe, a digital marketing agency specializing in content and data-driven SEO. She has more than seven years of experience in digital marketing & affiliate marketing too. She likes sharing her knowledge in a wide range of domains ranging from ecommerce, startups, social media marketing, making money online, affiliate marketing to human capital management, and much more. She has been writing for several authoritative SEO, Make Money Online & digital marketing blogs like: ImageStation, & Newsmartwave

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