At Staffing it is interesting to read some of the interesting stats from the recruitment industry. Whether you are a recruitment company, employer or candidate you will be surprised and facinated with the following hiring facts (Updated October 2020):
- Organisations spend on average 6 and 8 seconds reviewing resumes, 1 grammar or spelling mistake and your CV will be thrown away. 74% of CVs are ignored if your email address is unprofessional.
- The average cost of replacing a member of staff earning is $6,000 and $9,000.
- 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 85% of available jobs never advertised you should never stop career networking.
- Many organisations use talent-management software to screen resumes that look at keywords to screen out up to 80% of applicants without ever looking at a resume or cover letter
- It was reported of the 24,000 new hires 53% of them failed within 15 months and of these, 88% left because their attitudes did not align to that of the organisation. Only 12% failed because of a lack of skills.
- Companies on average look for the consider the following traits before making an offer: 30% look for multitasking skills; 29% look for initiative; 20% look for creative thinking; and 12% look for something else in the candidate.
- Phone interviews last 35 minutes and face-to-face interviews last 40 minutes on average. In a survey of 2,000 hiring managers, 30% claimed to know whether or not they would hire someone within 10 minutes. After that, it usually takes 1 day to 14 days to hear from the recruiters with their decision.
- companies report that 1 in 21 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.
- Other than the date, name of the contact and location, only 35% of candidates receive any information prior to an interview.
- It is interesting to note that only 6% of unsuccessful candidates were given feedback that was moderately useful from hirers. Only 4% of candidates received valuable feedback.