- Admin Staff
9 Hiring Facts
At Staffing it is interesting to read some of the interesting stats from the temping industry. Whether you are a recruitment company, employer or candidate you will be surprised and facinated with the following hiring facts (Updated January 2019):
- 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 79% of available jobs never advertised you should never stop career networking.
- It was reported of the 24,000 new hires 44% of them failed within 20 months and of these, 88% left because their attitudes did not align to that of the organisation. Only 13% failed because of a lack of skills.
- The average cost of replacing a member of staff earning is $5,000 and $9,000.
- On average there will be between 60 and 96 applicants for advertised jobs. Generally between 4% and 8% of these applicants get an interview.
- Many operations use talent-management software to screen resumes that look at keywords to screen out up to 76% of applicants without ever looking at a resume or cover letter
- On average new talent take between 24 and 28 weeks to reach optimum productivity.
- companies report that 1 in 20 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.
- Companies on average look for the consider the following traits before making an offer: 30% look for multitasking skills; 32% look for initiative; 20% look for creative thinking; and 10% look for something else in the candidate.
- It is interesting to note that only 5% of unsuccessful candidates were given feedback that was moderately useful from hirers. Only 4% of candidates received valuable feedback.
- Phone interviews last 28 minutes and face-to-face interviews last 41 minutes on average. In a survey of 3,000 hiring managers, 32% claimed to know whether or not they would hire someone within 10 minutes. After that, it usually takes 2 day to 7 days to hear from the recruiters with their decision.
- Hiring for Attitude by Mark Murph
- The Australian Financial Review
- Recruitment & Employment Confederation
- The New York Times
- The Age
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