Summary based on posted By Jennifer Gladstone / 

Hiring a new employee can affect everything from company culture to company profits. So, it’s no wonder the interview process can take about a month and almost two months to give an official offer to an applicant.

With more and more millennials entering the workforce and older generations retiring, hiring expectations are constantly evolving. Each group is very different in what it wants and needs at a job, causing a major shift in the industry.

Hiring Process

1. The average job opening attracts 250 resumes. (Glassdoor)

2. Only 2% of applicants will be called for an interview for the average job opening. (Glassdoor)

3. 42 days is the overall average time it takes to fill a given position. (SHRM)

4. The interview process takes an average of 22.9 days. (Glassdoor)

5. It takes five to six weeks on average to get a job offer. (MRINetwork)

 

Hiring and Job Opportunities

6. Hiring volume is expected to increase 58% in the U.S., 67% in Mexico, and 76% in India in 2017. (Linkedin)

7. 3.6 million executive leaders are set to retire in 2017. (MRInetwork)

8. 75% of the global workforce will be made up of millennials by 2025. (Deloitte)

9. 42% of people ages 18-34 are considering a new job. (Fit Small Business)

10. 20% of people over 35 are considering a new job. (Fit Small Business)

11. Eight years is the average employee tenure. (SHRM)

12. Career opportunity is the #1 reason people change jobs. (Linkedin)

13. Sales positions are a priority for companies to fill, followed by operations and engineering. (Linkedin)

14. The most popular reason for offer rejections are: accepting another offer (47% of the time) and the pay is lower than expected (25%). (MRINetwork)

15. 9.8 million jobs are projected to be created from 2014 to 2024 according to the Bureau of Labor Statistics. (BLS)

16. 63% of job openings are created because of new positions. (MRINetwork)

17. The ratio of unemployed persons per job opening was 1.3 in February 2017. (BLS)

18. Only 14.9% of hires are made from a job board candidate. Most (39.9%) are made through employee referral programs. (Jobvite)

19. 48% of businesses say their quality hires come from employee referrals. (Linkedin)

20. $4,129 was the average cost-per-hire in 2016. (SHRM)

21. 30% of the global workforce is made up of active job seekers. (Linkedin)

22. 74% of the workforce were open to making a move for a job in 2016. (Jobvite)

 

Job Seekers

23. 49% of prospective employees think competitive compensation packages are the most attractive in a company. Work-life balance was a close second at 42%. (MRInetwork)

24. Six reviews will be read by a job applicant about a company before forming an opinion about them. (Glassdoor)

25. 69% of job-seekers will not accept a job with a company if that company has a bad reputation. (Glassdoor)

26. 60% of job-seekers stopped filling out a job application because the process was too long. (Officevibe)

27. 15% of job-seekers put forth more effort into their position if they had a positive hiring experience. (Undercover Recruiter)

28. 42.9% of job seekers search using a job board and 32.1% search using career sites. (Jobvite)

 

Recruiting

29. 75% of hiring and talent managers use recruiting software and/or applicant tracking software when hiring. (Capterra)

30. 47% of companies have HR software that is over seven years old. (Bersin by Deloitte)

31. 65% of recruiters report that the biggest challenge in hiring is a shortage of talent. (Jobvite)

32. Recruiters see a 7.6% increase in pay year over year. (Glassdoor)

33. In 2016, 74% of recruiters reported offer rejections at 10% or less. (MRINetwork)

 

Benefits/Compensation

34. 61% of employers offered tuition reimbursement in 2016. (SHRM)

35. 66% of employees participated in 401(k) or similar plan if offered. (SHRM)

36. 6 percent was the average max 401(k) employer match. (SHRM)

 

Small Business

37. 16% of small businesses plan to increase employment opportunities. (NFIB)

38. 30% of small businesses currently have job openings. (NFIB)

39. 45% of small businesses found too few or no qualified applicants for job openings. (NFIB)

40. $1,872 is spent on average by small businesses to hire someone new. (Monster)

41. 62% of small business owners have reported making a wrong hire. (Monster)

42. 24% of wrong hires have caused a loss of customers. (Monster)

43. 85% of small businesses looking to fill open positions found no applicants. (NFIB)

 

Hiring Biases & Diversity

44. 67% of job seekers said a diverse workforce is important when considering job offers. (Glassdoor)

45. 57% of employees think their companies should be more diverse. (Glassdoor)

46. 45% think that hiring managers are in the best position to increase diversity (compared to the CEO or HR department). (Glassdoor)

47. When reviewing resumes, specifically looking at just the name, those associated with caucasian descent received 50% more callbacks than those associated with African American descent, regardless of the industry or occupation. (National Bureau of Economic Research)

 

Gender & Ethnicity

48. There was a 2.9% increase in the hiring of African American men and women in 2016. (US Bureau of Labor Statistics)

49. There was a 5.8% increase in the hiring of Asian men and women in 2016. (US Bureau of Labor Statistics)

50. There was a 3.5% increase in Hispanic/Latinos men and women in 2016. (US Bureau of Labor Statistics)

51. Asian men saw the largest increase in employment in 2016 at 6.4%. African American men saw a 3.8% increase, and Hispanic/Latino men 3.2%. (US Bureau of Labor Statistics)

52. Asian women saw the largest increase in employment in 2016 at 5.2%. Hispanic/Latino women saw a 3.9% increase, and African American women 2.2%. (US Bureau of Labor Statistics)

53. There were 8% more white males employed than white females in 2016. (US Bureau of Labor Statistics)>

54. There were 6% more African American females employed than African American males in 2016. (US Bureau of Labor Statistics)

55. There were 6% more Asian men employed than Asian women in 2016. (US Bureau of Labor Statistics)

56. There were 16% more Hispanic/Latino men employed than Hispanic/Latino women in 2016. (US Bureau of Labor Statistics)

57. 4.2% of CEO positions in America’s 500 biggest companies were held by women in 2016. (Fortune)

58. White men and women accounted for 69% of employed people in 2016. Hispanic/Latino accounted for 15%, African American 10% and Asian 5%. (US Bureau of Labor Statistics)

59. 9% of graduates from top 25 undergraduate computer science programs come from underrepresented minorities, and make up less than 5 percent of the tech workforce. (NY Times)

60. 16% of law school graduates are underrepresented minorities, and they make up just 8 percent of newly hired associates and 4 percent of partners. (NY Times)

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