Now that the festive period has become a (almost) distant memory and the New Year gets into the swing of things, we’ve decided to take a look at some of the key recruitment stats and hiring trends for 2020 and beyond.
- The current average cost per hire in the UK stands at around £3000, while the average length of interview process is 27.5 days. (source)
- According to one report by OnRec the average pay for UK workers has increased to an average of £40,900 (source)
- A shocking 17% of recruiters don’t know (and don’t track) what their average cost per hire is! (source)
- Applications to job roles in the UK increased by an impressive 15.9% compared to 2018 figures. (source)
- A global talent shortage has been predicted by 2030, costing companies trillions in lost economic output. This is due to a combination of skilled workers retiring and the introduction of A.I in the workplace. (source)
- Employment rates for men and women (between 16 - 64 years old) reached a record high of 76.1% in early 2019, however, the rates have levelled off in the last few months of 2019. (source)
- By the end of September 2019 over 32.75 million people (16+ years) were recorded as being in employment. An increase of 323,000 compared to the previous year. (source)
- By the end of September 2019 the UK unemployment rate was 3.8%. A 0.2% decrease on the previous year. (source)
- By 2025, millennial's will make up 75% of the global workforce. (source)
- Last year saw the largest increase in self-employed people since 2016. With there now being over 4.96 million self employed people in the UK. (source)
- The number of total paid employees increased by 110,000 and now stands at over 27.6 million. (source)
- Employment levels in the UK increased for all age groups except 18-24 year olds (source)
- There has been a small increase in the amount of non-UK nationals working in the UK since 2018, with the level reaching record highs of 1.35 million from July to September 2019 (source)
- 4.2 years is the average number of years that employees have been with their current employer. This number appears to increase as employees get older. (source)
- 68% of recruiters spend less than 2 minutes looking at your cv (source)
- On average, for a single job opening, only around 2% of applicants will be called in for an interview. (source)
- Around ⅓ of recruiters say that quality of hire is the best measurement of success. However, another 23% of recruiters consider candidate retention rate to be the primary measure of success. (source)
- In 2019, the average interview process in the US takes an average of 22.9 days. (source) This shorter when compared to the UK average which is 27.5 days on average.
- In 2019 the most common way for recruiters to assess their candidate’s abilities and skills are:
- Behavioural questions—75%
- Reading body language—70%
- Situation questions—58% (source)
- Women (36%) cite flexibility more so than men (29%) as a very important value in the workplace. (source)
- Over 40% of new employees that quit soon after being hired do so because the role wasn’t what they were expecting, meaning a good onboarding programme is vital. (Jobvite 2019)
- Flexibility in the workplace is becoming more and more important as employees look for a better work-life balance: Since 2016, there has been a 78% increase in job posts on LinkedIn that mention work flexibility. (LinkedIn Global Recruiting Trends 2019)
- 79% of job hunters will consider a company’s mission before applying - so if your company’s isn’t highly rated you could be putting off potential applicants. (source)
- According to Glassdoor, candidates value a positive hiring experience which includes ‘clear and regular communication’ (58%), ‘clear expectations’ (53%) and ‘feedback regarding rejection’ (51%) (source)
- An analysis of 20,000 different businesses across 91 countries found that companies with more female executives were more profitable overall. (source)
- Bonus stat: A difficult one to believe... but Linkedin is STILL (apparently) the most viewed social media channel by recruiters. Who would’ve thought it eh?
When used to their full potential, assessments provide recruiters with tailored information about each new employee. This allows you to provide more adaptable inductions that fit the specific needs of each individual employee.
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