The hiring process can be scary on both sides. That fear is validated. Hiring the right person can prove difficult when, as humans, we’re so often wearing our best masks.
In the spirit of Halloween, here are 13 recruitment statistics that would frighten anyone….BOO!
The wrong hire costs more than 5 times the candidate’s salary. Not to mention that in hiring an executive-level employee, that person will be hiring other people. If they are the wrong hire, then how are you 100% certain their hires are the right ones? What damage can the wrong team morale and work ethic have on your business and the impression it has on others? And so, the domino effect of financial losses continues…BOO!
The best candidates are off the market within 10 days. So if you feel scared and ‘under the gun’ when looking for the right candidate, you’re validated, but that’s why you need to be prepared. Partnering with a recruiter who knows what to look for (and sticks with you for 1 year post-hire to ensure the placement is 100%) can take some of that nightmare away….BOO!
It costs about 33% of a worker’s salary to hire a replacement. Worried? We get it, that’s a staggering amount of money—especially when it can happen more than once. The answer? Well, that comes down to work culture and…of course…finding the right fit (we can help you with that)….BOO!
44% of millennials looks for a new job within 2 years. Employee retention has never been more important. Work/life balance, perks, benefits, team dynamic, work culture, office environment, regular reviews, shareholder options, flexible schedules, and opportunities for advancement and learning are just some of the things you can do to help prevent brain drain….BOO!
55% of job applicants abandon their application process if they read negative reviews about your company online. You can’t always control what people say or how they react. How to get around a negative review? Do what you want from a good employee—take their feedback and use it to improve. This time, make it clear online that you’re doing so. Maybe that means recognizing and responding to the review online, or increasing your social media presence to clearly show the work culture and positive team dynamic at your company….BOO!
86% of the most qualified candidates aren’t actively looking for new jobs. What does this mean for you? Firstly, qualified candidates might be harder to get. Secondly, working with someone who is highly skilled at recruiting can mean the difference between the right and the wrong fit…BOO!
60% of candidates have quit an application process because it took too long. Tip: streamline the application process and save the big questions and truly getting to know someone for the interview….BOO!
It takes an average of 27 days to make a new hire. Eek! Right!?! Don’t be scared, it’s all worth it IF you find the right hire….BOO!
64% of applicants share horror stories with friends and family. That’s a lot of people’s reviews right there. Streamline the process and make it as gentle and engaging as possible. Easier said than done, right? We can help…BOO!
According to Gartner, 27% of hires are ‘bad hires’ or ‘regretted decisions’….Yikes….and…BOO!
51% of employees are already considering a new job. That’s more than half of your staff who are statistically contemplating their next move. I would say recruiting is a pretty important investment…wouldn’t you? (BOO!)
80% of employers promote their brand on social media. Now…this one shouldn’t scare you. But if you’re not promoting your brand on social media, maybe it will frighten you into doing so—which is, inevitably, a positive in the long-run. So, maybe, nothing to be scared of at all. BOO???!?
46% of millennials left their job due to lack of opportunity for growth. This is valid. Good companies hire good people and do what they can to keep them—including ample opportunities to learn, grow, and advance in their roles. Not sure how to do this? We know a thing or too….
Scariest part? There are WAY more stats out there. Best part? We’re here to help make the hiring process enjoyable (not scary).