10 Hiring Facts
At Staffing it is interesting to read some of the interesting stats from the recruitment industry. Whether you are a employment agency, employer or candidate you will be surprised and facinated with the following recruiting facts (Updated August 2020):
- The average cost of replacing a member of staff earning is $5,000 and $12,000.
- It was reported of the 20,000 new hires 47% of them failed within 20 months and of these, 90% left because their attitudes did not align to that of the organisation. Only 9% failed because of a lack of skills.
- Just as the number of job opening can increase it often will decrease at an even faster rate if an economy is slowing down. Nothing is constant so the highest salaries are secured when unemployment rates are lowest. Rememnber however lock in your job and salary at the peak as you may be looking for work when the cycle dips. With approximately 76% of available jobs never advertised you should never stop career networking.
- Organisations spend on average 5 and 8 seconds reviewing resumes, 1 grammar or spelling mistake and your CV will be thrown away. 73% of CVs are ignored if your email address is unprofessional.
- Many businesses use talent-management software to screen resumes that look at keywords to screen out up to 73% of applicants without ever looking at a resume or cover letter
- Companies on average look for the consider the following traits before making an offer: 34% look for multitasking skills; 28% look for initiative; 20% look for creative thinking; and 11% look for something else in the candidate.
- companies report that 1 in 22 job offers (around 5%) are rejected by their first choice of candidate. Usually because they have received another offer, however often for many other reasons.
- On average new candidates take between 22 and 29 weeks to reach optimum productivity.
- Other than the date, name of the contact and location, only 45% of candidates receive any information prior to an interview.
- Phone interviews last 34 minutes and face-to-face interviews last 47 minutes on average. In a survey of 3,000 hiring managers, 33% claimed to know whether or not they would hire someone within 10 minutes. After that, it usually takes 1 day to 8 days to hear from the recruiters with their decision.
- The New York Times
- The Financial Review
- Recruitment & Employment Confederation
- The Sydney Morning Herald
For more Temp Solutions Career Advice see below additional resources to find the perfect job: