Looking for valuable recruiting statistics? This HUGE list of the most important hiring statistics contains everything you need to know to benchmark your recruiting and ensure successful hiring in 2020.
What is the state of recruitment and hiring in 2020? 🧐
To stay up to date, I searched the web to find the latest relevant research and statistics on recruitment and hiring.
The result is this list - a HUGE compilation of more than 50 most informative recruiting facts and stats!
You can use these statistics to benchmark your own recruiting or simply consult it as a source of inspiration.
Knowing these hiring statistics will keep you in the loop with the latest recruitment trends and give you some new, fresh ideas for improving your recruitment efforts in 2020. 💪
I have compiled a rich collection of more than 50 most important recruiting and hiring statistics.
📊 This HUGE list of statistics is broken up into 17 recruiting-related topics:
1. Talent shortage
2. Changing jobs
3. Employee benefits
4. Employer branding
5. Job advertising
6. Candidate experience
7. Social recruiting
8. Career site
9. Employee referrals
10. Hiring assessments
11. Interviewing
12. Hiring for cultural fit
13. Company culture
14. Diversity hiring
15. Onboarding
16. Bad hire
17. Recruiting software.
So let’s dive into these interesting and informative statistics!
🧐 Are we really facing a talent shortage in 2020?
Talent shortages in the United States have risen to historical levels with 69% of employers having difficulty filling jobs - the highest in more than a decade.
Source: ManpowerGroup’s Talent Shortage Survey
By 2030, there will be a global human talent shortage of more than 85 million people, or roughly equivalent to the population of Germany. Left unchecked, in 2030 that talent shortage could result in about $8.5 trillion in unrealized annual revenues.
Source: Korn Ferry
In regards to the tech-talent shortage, by 2020, there will be 1.4 million computer science jobs and only 400,000 computer science grads who have the necessary skills.
Source: The White House
💡 Actionable takeaway:
In order to thrive in times of talent shortage and war for talent, you need to be proactive and think in advance. Hire for what’s next!
➡️ Learn how to build your talent pool proactively and nurture and engage your candidates!
🧐 How open are top candidates to change jobs? And how to win them over?
As many as 64% of employees may leave their jobs in 2020, according to newly released data in the Achievers 2020 Engagement and Retention Report.
Source: Achievers
89% of employers think employees leave for more money but in reality, only 12% do.
Source: HR Daily Advisor
Top reasons employees are looking or would consider leaving their company were “compensation” (52%), “career advancement” (43%), and “lack of recognition” (19%).
Source: Achievers
💡 Actionable takeaway:
Highlight career development opportunities in your employee value proposition to attract top candidates. Once they become your employees, be sure to recognize their hard work!
➡️ Check out 20 awesome employee recognition ideas!
🧐 Which benefits and perks do candidates really want?
60% of people report that benefits and perks are a major factor in considering whether to accept a job offer.
Source: Glassdoor Employment Confidence Survey
The most wanted benefits are:
1. Healthcare insurance (e.g., medical, dental): 40%
2. Vacation/Paid time off 37%
3. Performance bonus: 35%
4. Paid sick days: 32%
5. 401(k) plan, retirement plan, and/or pension: 31%
6. Flexible schedule (e.g., work from home): 30%
7. Office perks (e.g., free lunch, casual dress): 19%
Source: Glassdoor Employment Confidence Survey
💡 Actionable takeaway:
Perks such as table tennis and beer taps in the office probably won’t help you attract top candidates.
➡️ Offer meaningful employee benefits and flexible working arrangements.
🧐 How important is employer branding in 2020?
75% of candidates will research a company’s reputation before applying for a job opening.
Source: LinkedIn
75% of Americans would not take a job with a company that had a bad reputation, even if they were unemployed.
Source: Corporate Responsibility magazine
92% of people would consider changing jobs if offered a role with a company with an excellent corporate reputation.
Source: CR Magazine
A strong employer brand reduces turnover by 28% and cost per hire by 50%.
Source: LinkedIn
Companies with strong employer brands see 50% more qualified applicants and take 1-2x faster to hire.
Source: LinkedIn
💡 Actionable takeaway:
The message here is clear - if you want to attract and hire top talent in 2020, you have to invest into building a strong employer brand.
➡️ Learn how to build your employer branding strategy in 5 steps [INFOGRAPHIC]!
🧐 What are the new trends in job advertisements in 2020?
51% of respondents would be more attracted to a company that had job postings with visual elements (images or videos) than to a company that didn’t.
Source: Software Advice
Job listings that include a salary range got 75% more clicks than job listings that don’t.
Source: Stack Overflow
💡 Actionable takeaways:
It’s 2020. If you want to make your job ads stand out, you need to differentiate them from your competitors. Go visual and include a salary range. Looking for more ideas?
➡️ Get inspired by these top 10 job ad examples!
🧐 What is the state of candidate experience in 2020?
52% of candidates don’t receive any communication in the two to three (or more) months after applying.
Source: Talent Board Candidate Experience Benchmark Research Report
An overwhelming 81% of candidates that the one main thing that would greatly improve their overall candidate experience is employers continuously communicating status updates to them.
Source: CareerBuilder survey
90% of recruiting emails aren’t personalized at all!
Source: Hired
Job applicants who do not receive a job offer are 80% more likely to apply again if they already had a positive candidate experience.
Source: Dover
63% of job seekers will likely reject a job offer because of a bad candidate experience.
Source: Software Advice
72% of job seekers that had a bad experience told others about it, either online or in person.
Source: CareerArc
64% of job seekers say that a poor candidate experience would make them less likely to purchase goods and services from that employer.
Source: CareerArc
💡 Actionable takeaway:
A bad candidate experience can cause you not only to lose great candidates but also customers and money.
➡️ Discover 10 clever hacks for improving your candidate experience in 2020!
🧐 Is social recruiting really a must-have rec recruitment strategy in 2020?
73% of millennials found their last position through a social media site.
Source: Aberdeen Group
Nearly half of all professionals (49%) are following companies on social media with the intent to stay aware of their jobs.
Source: LinkedIn
62% of job seekers use social media channels to evaluate the employer brand of a company.
Source: CareerArc
Job seekers rank social and professional networks as the most useful job search resource compared to job boards, job ads, employee referrals, recruiting agencies, and recruiting events.
Source: CareerArc
💡 Actionable takeaway:
Social media recruiting is definitely a must-have recruiting strategy in 2020 for any company that wants to be successful in finding and attracting top talent.
➡️ Learn how to promote your employer brand on social media!
🧐 Is your career site really worth the investment?
59% of candidates visit the company website after discovering a job.
Source: LinkedIn
60% of job seekers quit in the middle of filling out online job applications because of their length or complexity.
Source: CareerBuilder
💡 Actionable takeaway:
Your career site is the most important recruiting channel you have - that is, if it has the right anatomy. Looking to create a new career site or just upgrade the one you have?
➡️ Get inspired by these top 10 career site examples!
🧐 Are employee referrals still the best way to find great candidates in 2020?
48% of businesses say that their top channel for quality hires are employee referrals.
Source: LinkedIn, Global Recruiting Trends
Referred candidates are 55% faster to hire.
Source: HR Technologist
Referred hires produce 25% more profit than hires from other sources
Source: The Alexander Group
💡 Actionable takeaway:
If you’re not getting at least 30% of hires through your employee referral program, you’re missing out on a great opportunity!
➡️ Learn how to set up a successful employee referral program and boost it with innovative employee referral awards!
🧐 What is the best way to assess your candidate’s knowledge and skills?
82% of companies use some form of pre-employment assessment test.
Source: Talent Board's Candidate Experience Research report
A “work sample” evaluation is the most effective assessment method, explaining up to 29% of an employee’s performance.
Source: Furst Person
💡 Actionable takeaway:
In 2020, 82% of companies use some form of pre-employment assessment tests. How about you?
➡️ Learn how to use the “work sample” assessment technique!
🧐What is the best interviewing technique you should be using in 2020?
The most frequently used interview techniques are structured interviews. Structured interviews are being used by 74% of HR professionals around the world.
Source: LinkedIn
83% of talent say a negative interview experience can change their mind about a role or company they once liked.
Source: LinkedIn
💡 Actionable takeaway:
Being a great interviewer in 2020 means that you know how to select the best candidates AND provide a great candidate experience. Both are equally important!
➡️ Check out our guide for conducting structured job interviews!
🧐 Hiring for cultural fit - a necessity or just a fad?
67% of recruiters consider culture fit to be an important factor when hiring.
Source: Totaljobs
90% of recruiters have rejected candidates due to their lack of cultural fit.
Source: Cubiks
💡 Actionable takeaway:
Although hiring for cultural fit alone has many disadvantages, when done right, cultural fit hiring can help you improve your retention rate and boost your company culture.
➡️ Consider using a few cultural fit questions in your job interviews!
🧐 How important is company culture in 2020?
70% of professionals in the U.S. today would not work at a leading company if it meant they had to tolerate a bad workplace culture.
Source: LinkedIn
25% of candidates said that a better company culture is among their top reasons for changing jobs.
Source: LinkedIn
💡 Actionable takeaway:
According to these statistics, company culture is the key to attracting and retaining great employees in 2020.
➡️Learn how to promote your company culture to attract new talent in 2020!
🧐 How important is diversity hiring in 2020?
67% of job seekers said a diverse workforce is important when considering job offers.
Source: Glassdoor
78% of talent professionals and hiring managers say that diversity is the top trend impacting how they hire.
Source: LinkedIn
💡 Actionable takeaway:
Workplace diversity starts with hiring. Workplace diversity is not just an inclusion fad - it has tangible and direct benefits.
➡️ Discover great ideas for building, managing and promoting workplace diversity!
🧐 What are the chances you’ll hire the wrong person in 2020? And what will it cost you?
Nearly three in four employers (74%) say they've hired the wrong person for a position.
Source: Career Builder
The average cost of one bad hire is nearly $15,000!
Source: Career Builder
💡 Actionable takeaway:
Okay, so you are most likely to make a bad hire in 2020 - same as any other employer. Luckily, this doesn’t have to turn into a disaster!
➡️Check out our top 5 tips for turning a bad hire into success!
🧐 Should you invest in onboarding in 2020?
Only 12% of employees would strongly agree their organization does a great job of onboarding new employees
Source: Gallup: State of the American Workplace
32% of global executives rate the onboarding they experienced as poor.
Source: Harvard Business Review
Companies lose 25% of all new employees within a year.
Source: Allied Workforce Mobility Survey
69% of employees are more likely to stay with a company for three years if they experienced great onboarding.
Source: Society For Human Resources Management
Organizations with a standard onboarding process experience 50% greater new-hire productivity.
Source: Society For Human Resources Management
💡 Actionable takeaway:
Invest some time and effort in creating an effective (and fun!) onboarding program and turn it into your secret weapon for attracting and retaining top talent.
➡️ Check out our guide on how to successfully onboard new employees!
🧐 When it comes to recruiting technology, what are the benchmark statistics in 2020?
Over 98% of Fortune 500 companies use recruitment software.
Source: Jobscan's research
78% of employers say that using an ATS said that recruitment technology makes finding great talent easier than ever.
Source: Career Builder
68% of recruiting professionals say that the best way to improve recruiting performance over the next 5 years is by investing in new recruiting technology.
Source: LinkedIn
94% of recruiters and hiring professionals say their using recruitment software has positively impacted their hiring process.
Source: Capterra’s research
💡 Actionable takeaway:
Modern recruitment technology can help you tackle the most important recruitment challenges in 2020.
If you’re a real stat junkie (Hi there, friend 🤗), you’ll be happy to know we have more cool statistics gathered on different topics. Check out our following blog posts:
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