The hiring process can be a challenge for small businesses and job seekers alike. According to recruitment statistics, it can take weeks to find the right candidate—and there’s no guarantee they’ll even accept the job or stay after the onboarding experience.
A great recruitment experience starts with research. Understanding how job seekers search for work, their priorities, and their mindset can put you ahead of the competition. Putting extra time and care into your candidate search shows prospective employees that you care about their experience as much as your own, which makes your small business an attractive prospect for anyone.
To successfully onboard candidates with the right skills, experience, and culture fit, check out the statistics below.
1. New positions take an average of 36 days to fill
When an employee gives their two weeks’ notice, it’s your cue to start the recruitment process. Unfortunately, it can take anywhere from 20 to 45 days to fill a new position. The average position takes 36 days from the start of the search to selecting a candidate. The right employee is worth the wait, but your small business should be prepared for the long haul when trying to attract new talent.
2. 73% of job seekers find the process stressful
Job hunting is stressful. In fact, 73% of job seekers say that it’s one of the most stressful events of their entire lives. That’s a staggering recruitment stat—but it’s also an opportunity for your small business to shine. If you can make your hiring and onboarding process easier for job seekers, your preferred candidate is more likely to think positively of your company and accept your offer.
3. 83% of candidates prefer having a clear timeline of the hiring process
A great way to make the job search easier for candidates is to give them a clear timeline. Before you post a job opening, take the time to outline the process for your team. How many interviews will there be? What format? Who will conduct them? How long will you wait between each round? Communicating this information to candidates will set their minds at ease.
4. Almost 90% of applicants find job openings through social media
Social media isn’t just for looking at pictures of your friends’ babies and your sister’s cats. It’s how 86% of job seekers find job openings. Target potential candidates where they’re most likely to see your listing.
5. 76% of candidates believe diversity is an important factor to consider when evaluating a company
When you interview candidates, it’s important to remember that they’re also interviewing you. Over three quarters of applicants consider a company’s diversity when deciding whether to accept an offer.
6. 84% of recruiters believe culture fit is an important factor when hiring
Attitude is nearly as important as skills and experience. Cultural fit—that is, how well an employee interacts with an organization’s culture and practices—can determine whether a candidate will be hired. 84% of recruiters consider a good culture fit to be important.
7. Brand reputation is important to 86% of women and 67% of men
The way your company presents itself is crucial to recruiting top talent. In fact, 86% of women and 67% of men report that they would not consider applying to a job where the company has a bad reputation. Before you post that job listing, take a moment to evaluate how your business responds to reviews, social media posts, and more.
8. 44% of recruiters are prioritizing remote work options
Working remotely is here to stay. According to recent recruitment statistics, 44% of recruiters are now prioritizing remote work options for their teams. Not only do employees love the flexibility, but it’s a great opportunity to broaden your talent pool.
9. 82% of new hires will stay after a positive onboarding experience
The cost of a “bad hire”—someone who will leave your company in less than a year—can be high. You need to critically evaluate your onboarding process to ensure that you not only find but retain the best candidate. Remember that 82% of new hires who have a positive onboarding experience stay at their new job for over a year.
10. New hires are twice as likely to look for a new job after a poor onboarding experience
What happens if the onboarding process is less than stellar? Your new hire is twice as likely to look for a new job. Again, this highlights the need for a smooth interview, hiring, and onboarding process.
11. 45% of job seekers have left jobs for more money elsewhere
Money talks. The number one reason people leave their job is to find a higher salary elsewhere. In fact, 45% of job seekers are searching for a better salary, while 37% look for better skills and interest fit or more growth opportunities. To stay competitive, your company needs to offer an attractive salary and benefits package… or risk losing your dream hire to a more generous firm.
12. Your hiring cycle can be 60% shorter with an optimized recruitment process
The hiring process is tough for candidates and companies alike. To cut down on the time it takes to find your perfect employee, optimize your recruitment process. Refining your methods—improving the job posting, removing barriers to application, outlining the hiring process, and more—can shorten the hiring cycle by 60%. In other words, you could cut that 36-day hiring process down to 2 weeks.
Pay attention to what the data tells you
The recruitment statistics don’t lie: hiring can be a lengthy, stressful, and expensive process for small businesses. The right candidate is out there, but finding them can be a challenge. Taking the time to critically evaluate your hiring goals and processes will help your company stand out from the crowd. When you understand what candidates really want—clarity, competitive wages, diversity, remote work, and a great brand reputation—it’s easier to tailor the experience to your dream employee.
Sources for Statistics
Stats listed by the reference number in the article.
- SHRM: Talent Acquisition Benchmarking Report
- Small Biz Genius: 70 Recruitment Statistics for Attracting Top Talent in 2022
- Career Arc: Future of Recruiting Study
- Glassdoor: Glassdoor’s Diversity and Inclusion Workplace Survey
- Cubiks: ‘Hire for culture, train for skill’
- Glassdoor: 40+ Stats For Companies to Keep In Mind for 2021
- Monster: The Future of Work
- Glassdoor: The True Cost of a Bad Hire
- Wixstatic: Super CIO
- Linked In: Inside the Mind of Today’s Candidate
- Builtin: How to Write a Job Description: Data Driven Results