At Staffing it is interesting to read some of the interesting stats from the recruitment industry. Whether you are a recruitment agency, employer or candidate you will be surprised and facinated with the following employment facts (Updated October 2020):
- On average there will be between 55 and 94 applicants for advertised jobs. Generally between 5% and 12% of these applicants get an interview.
- The average cost of replacing a member of staff earning is $5,000 and $9,000.
- Just as the number of job opening can increase it often will decrease at an even faster rate if an economy is slowing down. Nothing is constant so the highest salaries are secured when unemployment rates are lowest. Rememnber however lock in your job and salary at the peak as you may be looking for work when the cycle dips. With approximately 81% of available jobs never advertised you should never stop career networking.
- Organisations spend on average 5 and 8 seconds reviewing resumes, 1 grammar or spelling mistake and your CV will be thrown away. 74% of CVs are ignored if your email address is unprofessional.
- It was reported of the 21,000 new hires 44% of them failed within 16 months and of these, 89% left because their attitudes did not align to that of the organisation. Only 9% failed because of a lack of skills.
- companies report that 1 in 18 job offers (around 5%) are rejected by their first choice of candidate. Usually because they have received another offer, however often for many other reasons.
- Phone interviews last 30 minutes and face-to-face interviews last 45 minutes on average. In a survey of 3,000 hiring managers, 33% claimed to know whether or not they would hire someone within 10 minutes. After that, it usually takes 2 day to 8 days to hear from the recruiters with their decision.
- On average new candidates take between 23 and 27 weeks to reach optimum productivity.
- Other than the date, name of the contact and location, only 38% of candidates receive any information prior to an interview.
- It is interesting to note that only 6% of unsuccessful candidates were given feedback that was moderately useful from hirers. Only 4% of candidates received valuable feedback.