Companies spend an immense amount of time and money on recruiting, and often don’t get the results they were looking for.
We put together 12 statistics that are sure to change the way you approach recruiting.
Interactions With Employees Are The Best Way To Get Insights
In the past, companies could advertise whatever image they wanted to potential candidates, but you can find out the truth from speaking with employees directly. Websites like Glassdoor and social media have changed the way companies recruit, because there is so much more transparency in the process.
No longer can companies hide behind marketing gimmicks and buzzwords, companies need to be much more authentic, and potentially change the way they do things.
2x As Likely To Accept Cold Emails If They’ve Interacted With Your Brand
No one likes getting cold emails, unless they’re really well-written or timely.
When people “interact” with a brand, it’s very likely on social media. Your company should allow employees to promote your brand on social media and be ambassadors for your company.
Again, it all comes down to transparency. Show potential candidates what it’s like to work at your company and make them know who you are.
As a simple example, if you were to get a cold email from Google offering you a job, it’s likely that you’d open it.
It Takes Around 27 Days To Make A New Hire
The good thing about this is that companies are starting to treat the hiring process much more seriously.
They realize the value in taking the time to get to know someone and make them go through multiple steps in the interview process before making a decision.
The bad thing about this is that top talent is off the market very quickly. So while I agree that you need to have a good hiring process, make sure it’s not too complex.
Often, companies will overdo the process and make it longer than it needs to be.
You should be constantly be looking for ways to optimize the process, and use technology to help. Our company recently started using Workable to manage our candidates, and we love it so far!
The Best Candidates Are Off The Market In 10 Days
The best candidates have so many offers coming their way, that they really have their choice of whatever job they want.
If you find a top talent candidate, you should try to move quickly.
You want all-star players on your team, and you need to do whatever it takes to get them.
Like I wrote before, you need to have a strong interview process that takes time and qualifies candidates, but at the same time, you need to be able to move quickly if a good opportunity presents itself.
The Average Cost Per Hire Has Risen To $4000
This is a pretty alarming statistic.
Hiring is becoming more important than ever and companies are starting to take note.
Also, what it takes to recruit an employee has changed, from more advanced tests, to bringing other managers into the process, to more expensive and diverse job listings, it’s expensive to hire a new employee.
All the more reason to go the extra mile to make sure that you’re hiring the right person for your team.
Hiring for culture fit is easier said than done, because sometimes you desperately need employees, but in the end it’s worth it.
Chances are, you’ll need to let them go in the near future because they won’t fit in with the team, making it an even more awkward (and more expensive) process.
60% Of Employers Are Concerned With The Cost Of Unfilled Positions
Employers are naturally very concerned with the cost of unfilled positions, it’s a ton of money being left on the table.
The opportunities are almost endless. Think about the lost revenue from missed business, the lost money from employees who have to do more with less, the money from mistakes made when employees are doing too much to handle, etc.
This is a constant, arguably unnecessary stress for employers.
There’s not much that can be done, because building your employer brand takes time and effort, but if you make the right decisions, long term it will pay off, that’s for sure.
64% Of Applicants Share Negative Application Experiences. 27% Actively Discourage Others From Applying
The candidate experience is so important, and companies can’t ignore this process.
Things like calling or at least emailing every single applicant to give them a response whether it’s yes or no, treating candidates with respect when they come for an interview, etc.
I can’t count the number of times I’ve been told by a hiring manager that they’d get back to me regardless of their decision to let me know where I stand in the application process only to never receive anything.
It’s a bit tedious, but it’s so worth it.
Like I mentioned earlier, especially now with social media, the word can spread very quickly.
You don’t want negative comments spreading about your company.
60% Of Candidates Quit An Application Process That Takes Too Long
This is a big opportunity wasted.
Lots of good potential employees not getting a chance to work for your company because your process isn’t well optimized.
A good example of this is Google that after working hard to optimize the hiring process, using data of course, they realized they had too many steps on the interview process and brought the number down to 4.
Now it runs much smoother, and they are able to get candidates through the door much faster.
15% Of Candidates Who Have A Positive Hiring Experience Put More Effort Into The Job
This is an incredibly interesting statistic.
It’s so important to make an employee feel good starting from when you first interact with them, every part of the experience has to be amazing.
If it is, the employee will already be in love with your company, and go the extra mile to make your company successful.
Over 75% Of Professionals Are Passive Candidates
Many companies make the huge mistake of ignoring passive candidates. Most people are passive candidates, meaning you’re missing out on a giant pool of talent that would potentially be willing to work with you if the offer was right.
People are naturally complacent, so sometimes all it takes is a little push to get them to switch over to your company.
Don’t view hiring as a one-time thing when you need to fill a position. Building and maintaining your employer brand is an ongoing thing that takes input from many different people in different departments.
46% Of Recruiters See Recruiting Becoming More Like Marketing
I wish this number was higher.
This is something I have been saying for a while now, recruiting is becoming exactly like marketing,.
Candidates, both passive and active should be treated like leads in a funnel, the same way that marketing treats their leads.
The best way to attract passive candidates is by messaging them with relevant content (blog posts, company news, etc.) at the right moment. The same principles from marketing of figuring out what the “right moment” is, is coming to recruiting.
Employee Turnover Can Be Reduced By Investing In Your Employer Brand
Employee turnover costs a ton of money.
Doing whatever you can to reduce it is obviously important for the company. The entire experience from A-Z needs to be great so that employees love working for your company.
A great example is Hubspot, a company famous for their culture, makes each new employee responsible for improving the onboarding experience after they go through it.
It ensures that their process continues to get better over time.
What Are Some Things You Do To Ensure A Strong Employer Brand?
Let us know your thoughts in the comments!