8 Hiring Stats That Will Change the Way You Recruit
September 8, 2016
When it comes to creating recruiting processes or making hiring decisions, I like to do my research. And in my normal fact-dependent fashion, I did a little refresher research before I got I began screening and interviewing this fall’s round of interns and onboard new talent at Red Branch Media.
What I found heavily influenced my approach to fall hiring, and I think it will influence yours too. Here’s what I mean...
1. Average time to hire is 28 days.
This is an all-time high for recruiters and means there very well might be an opportunity for you to beat others to the punch. You’re not under the impression that you’re the only employer being considered by a candidate, especially not one with a solid resume and knack for interviewing, so don’t hire like you are. Instead, be a little more sure of your ability to spot a good thing.
What this means to me:If I move fast, I have an advantage that larger companies may not. This motivated me to include other managers and departments in my hiring process so I didn’t lose the advantage.
2. The top 10% of candidates are hired within 10 days.
This informal metric provided by Dr. John Sullivan paints a picture for those who sit on the slower side of hiring. The best of the best are proactive and driven by the potential of career progression. That means those high potential candidates you want are busting it to be seen by amazing companies and, like I said, if that includes you, chances are, it doesn’t include only you.
What this means to me: Hire slow, fire fast is tough to pull off in the Omaha market. Instead, we’ve got our hiring process down to a science with automated reminders, specific (but not tedious) applicant instructions, pre-hire assignment templates and a streamlined onboarding process.
3. A recruiting algorithm increases the accuracy of selecting productive employees by more than 50%.
Recruiting is getting a lot more mathematical, thanks to big data. As a small business, we’re not able to collect the hard hitting data that others can, but I will say that mid-sized businesses and corporations should listen up: data can improve hiring process effectiveness, determine job competencies and even measure potential performance all before extending a job offer. We’re talking predicting the future here.
What this means to me: Erm, not a lot just yet. But we do have a series of smaller tests designed to weed out those who won’t do well here. While we only collect anecdotal data, it’s proven accurate in predicting the success of a new hire.
4. 36% of people who changed jobs cited being unsatisfied with the company culture as the reason they left.
When I’m interested in a candidate, even if I haven’t made a decision, I like to speak to them as though they are a top choice. I speak about our environment as if they were already expected to perform within it and talk about perks as though they were sharing them. It allows them to relate to our culture without ever being a part of it. Plus, it shows them I’m seriously considering extending an offer (see number 1).
What this means to me: I’m also brutally honest about what it’s like to work here. It’s not always a party and like any job, there will be aspects new employees don’t love. Do we have a ping pong table in the office? Yes, we do. Will you get fired if you play ping pong all day? Yes, you will.
5. 66% of candidates believe interactions with current employees are the best way to learn about a company.
As a consumer, we can’t help but see this one coming. We flock to reviews before big purchases and job seekers flock to employee opinions before accepting offers. It’s just how this whole things works. So, I built employee meet and greets into my in-office interview process so candidates can rub elbows with possible coworkers and see first hand how an employee works at Red Branch.
What this means to me: While I discourage employees from stalking potential applicants on social media (Omaha is a big little town), I do value their feedback when we get farther along in the process. Moving fast doesn’t mean we risk hiring someone who will treat one of my Branchers poorly.
6. 1 in 5 employers have asked an illegal interview question.
This one terrified me. In the early days, I wasn’t as consistent in my interview script as I probably should have been. While I’ve made some great hires, I couldn’t help but wrack my brain for all the questions I may have asked before I built my new and improved structured interviewing process. Reading over the list settled my nerves, but will it calm yours?
What this means to me: I probably asked an illegal interview question. Make sure you know which ones can get you in trouble.
7. 47% of talent acquisition teams globally share or contribute to employer brand with their marketing team.
As employer branding becomes a larger priority, companies are trying new ways to communicate their company culture to potential candidates. Recruiters and HR pros are experts on happy employees and marketers have the experience in communication. Combine the two and you have the makings of an excellent employer branding initiative.
What this means to me: Everyone is a recruiter at Red Branch. Yes I know we’re small, but I do believe this can happen with larger companies as well. Just take a look at what Celinda Appleby is doing at Oracle. What this really is is leveraging employee stories and that can be done no matter what size you are. Use LinkedIn, Facebook, Instagram, your website and IRL opportunities to brag about your team and co-workers.
8. 49% of respondents report their work environment and business practices are “complex” while an additional 25% report theirs to be “very complex.”
There wasn’t much to this statistic that affected my recruitment and hiring processes, but it sure made me feel a lot less alone.
What this means to me: I cannot lie to job seekers. There is too much at stake. Half the population feels their jobs are complex, I cannot promise applicants their experience at Red Branch Media will be simple, but I can promise it will be challenging, rewarding and educational. Plus we have wine!
How do these stats change how you see hiring? As I went through the list, I realized there are more to these statistics and studies than an easy tweet. The purpose of these ideas is to change the way we recruit. Hopefully, for the better.
*Image from The Matrix
To receive blog posts like this one straight in your inbox, subscribe to the blog newsletter.