Amidst the craziness of sifting through resumes, managing job listings and coordinating with hiring managers, it can be challenging to stay up on recruiting trends. That’s why we’re counting down the top ten most important HR and recruiting statistics, so you can have the numbers at your fingertips.
1.) The average opening sat unfilled for 28.1 days in 2016, up from 19.3 days in 2001-2003. (DHI Hiring Indicators, October 2016).
The fight for top talent is fiercer than ever. Use this statistic to justify exploration and experimentation within your recruiting strategy. Try a new job board, go after an untapped demographic, host an event, the job market is your oyster.
2.) 66% of Millennials expect to leave their organization by 2020. (Deloitte, Millennial Survey 2016, January 2016).
The best medicine is preventative medicine. You’re upstream from a huge waterfall of attrition. Use this opportunity to engage your Millennial employees and help them further invest in your organization.
3.) Companies with a formal engagement strategy in place are 67% more likely to improve their revenue per full-time equivalent on a year-over-year basis. (Aberdeen, The Role of Engagement in Performance Management, September 2016).
This statistic is the one you need to bring to any conversation about employee engagement. Now is the time to invest in your employees. If you’re on the brink of getting budget approved for a project that falls under the employee engagement umbrella, this statistic is one you should have in you arsenal.
4.) Boosting employee satisfaction by one Glassdoor rating point raises the market value of a company by 7.9% (Journal of Corporate Finance, 2015).
Use this statistic to prove the value of investing in employee satisfaction. If you can’t invest cash into employee satisfaction, start with your time. Read Glassdoor reviews and collect feedback.
5.) On a five-point scale, the optimal or “best” interview difficulty that leads to the highest employee satisfaction is 4 out of 5, with 5 being the most difficult. (Glassdoor Economic Research, October 2015).
Your company’s interview process should be the Goldilocks of your recruiting strategy. Getting it just right will pay off in the long run.
6.) The average rating for a company on the Glassdoor Best Places to Work 2017 U.S. Large list is 4.3 on a 5.0 scale. The average overall rating for Glassdoor companies is 3.3. (Glassdoor Data Labs, January 2017).
Think of this statistic as baseline to build off of. If you’re right on the money, your employer brand is healthy. The Best Places to Work list is the next step if you’ve surpassed the Glassdoor average rating.
7.) The three factors most strongly correlated to CEO approval on Glassdoor are employee satisfaction, satisfaction with senior leadership, and satisfaction with career opportunities. (Glassdoor, What Makes a Great CEO, August 2016).
If your company’s CEO rating is low, it could be symptomatic of bigger issues at your company. Keep this statistic in mind if you notice a decrease on your CEO rating.
8.) Nearly 80% of workers would prefer new or additional benefits to a pay increase. (Glassdoor, Employment Confidence Survey, October 2015).
Benefits are key to your company’s ability to recruit. If your company can’t offer top dollar for top talent, you can still lure in best fit candidates with a great benefits package.
9.) 68% of women accepted the salary they were first offered and did not negotiate. For women age 45–54, that number was 77%. (Glassdoor, Salary Negotation Insights Survey, May 2016).
This statistic is critical if your company prioritizes pay equality. Keeping this in mind when having salary conversations is critical. Offer pay transparency and encourage new hires to do their research before accepting their offer.
10.) 74% of Glassdoor users are more likely to apply to a job if the employer actively manages its employer brand (e.g. responds to reviews, updates their profile, shares updates on the culture and work environment). (Glassdoor.com U.S. Site Survey, August 2016).
Your best fit candidates are out there, and they’re watching. Great hires are also engaged and well researched candidates. They don’t expect perfection, but they do expect that you care about your company’s reputation.
Don’t be caught without the facts. Throw one of these statistics into your next presentation to executives and get some major kudos. Want more HR and recruiting statistics? Read our newest eBook 50 HR and Recruiting Statistics for 2017.