Top Recruiting Statistics for 2018

November 15, 2017

 

ICIMS Staff

4 min read

It’s important for today’s talent acquisition professionals and HR leaders to keep a pulse on the constantly changing landscape of recruiting and HR. Understanding the concerns and behaviors of employers and job seekers can help you find and retain top talent and grow your organization.

Below are curated statistics on the topics that matter most in talent acquisition today.

Talent Acquisition Affects Business Results

• Technology and talent are CEOs’ top two business priorities. (PWC, 20^th CEO Survey, 2017)
• CEB survey of 900 recruiters and 6,000 hiring managers found that time to fill increased by 50 percent from 2010. The average vacancy costs 500 dollars per position per day, a loss of 22,000 per position over the average period of 44 calendar days. (CEB, Global Talent Trends Q2 2016)

Candidate Experience Matters

• Nearly four in five candidates (78 percent) say the overall candidate experience they receive is an indicator of how a company values its people. (CareerBuilder, Candidate Experience from End-to-End, 2017)
• 82 percent of hiring managers say they view the candidate experience as very or extremely important. (CareerBuilder, Candidate Experience from End-to-End, 2017)
• More than half (58 percent) of those with a prior negative impression of the hiring organization said they would not apply again in the future. (IBM, The Far-Reaching Impact of Candidate Experience, 2017)
• People who are satisfied with their candidate experiences are 38 percent more likely to accept a job offer. (IBM, The Far-Reaching Impact of Candidate Experience, 2017)
• Job seekers expect the same ease of use and functionality they see in apps and websites they use every day when searching and applying for a job. When searching for a job, people want to visit job search sites that allow them to: Instantly mark jobs of interest (54 percent); receive recommendations based on job preferences and resume (53 percent); and input salary requirements and enable employers to reach out directly (53 percent). (iCIMS, The Modern Job Seeker Report, 2017)

The Recruitment Landscape is Complex and Dynamic

• On average, businesses use up to 24 recruiting technologies with the number one challenge being poor integrations. (HRWINS, The Future of HR Technology, 2016)
• The top two reasons that companies replace their ATS are because of the challenges integrating data and limited features and functionality. (HRWINS, The Future of HR Technology, 2016)

Companies That Care About Talent Acquisition Need to Go with a Best-of-Breed Provider

• Two-thirds of senior talent acquisition and HR leaders (66 percent) would prefer to implement best-of-breed solutions over seeking, or waiting for, a fully integrated suite that provides all the functionality they may aspire to have. (Talent Tech Labs, Stat of Talent Acquisition Technology, 2017)
• Senior talent acquisition and HR leaders from larger organizations are more likely to prefer integrated solutions (41 percent) over the general survey population (34 percent), likely a result of the complexity of running multiple piecemeal tools in an elaborate corporate environment. (Talent Tech Labs, Stat of Talent Acquisition Technology, 2017)

Entry-Level Candidates Have High Expectations

• According to recruiters, on average, entry-level employees can expect to earn approximately $45,381 with only 24 percent of companies paying $50,000 or more. That’s about $8,000 less than what this year’s college seniors are expecting ($53,483). (iCIMS, The Class of 2017 Job Outlook Report, 2017)
• The majority of entry-level recruiters (87 percent) agreed that a four-year college degree would make an entry-level job seeker instantly competitive in the current job market. In fact, 81 percent of recruiters screen out entry-level candidates because they do not have a college degree. (iCIMS, The Class of 2017 Job Outlook Report, 2017)
• In 2017, almost all of college seniors surveyed (96 percent) reported having student loans, and 68 percent are confident their first job’s salary will be sufficient to start paying them off without the help of their parents. (iCIMS, The Class of 2017 Job Outlook Report, 2017)
• College seniors reported many positive outcomes as a result of an internship. While only 26 percent of internships led to a full-time job offer, learning better organizational skills (65 percent) and receiving letters of recommendation (61 percent) were the most common result of completing an internship. (iCIMS, The Class of 2017 Job Outlook Report, 2017)

Women in the Workforce are Still Faced with an Uneven Playing Field

• Among female executives, 62 percent have been passed up for a promotion in favor of a male. (iCIMS, Women in the Workforce Report, 2017)
• Among non-executives, 73 percent of women aspire to be an executive at some point in their career, which means they are equally as aspiration as men (76 percent), yet on average only 32 percent of high-level or C-level leaders are women. (iCIMS, Women in the Workforce Report, 2017)
• Women who work in STEM (46 percent) are significantly more likely than men in STEM (27 percent) to feel they are underpaid. (iCIMS, Women in the Workforce Report, 2017)