Recruitment can be a tricky task for any company. Finding the best quality candidates who can handle all aspects of your company’s open position can be daunting and challenging, especially if you don’t have a set recruitment strategy. Analyzing these 6 recruitment statistics may surprise you to the point that your boss may be persuaded to invest in HR software.
LinkedIn’s Future of Recruiting 2023 report revealed that 84% of participants said understanding employee skills is a priority for their company. Data-driven recruitment strategies are more prominent in today’s digital world. Employee skills must be prioritized in recruitment to enhance productivity and candidate quality.
1. Only 65% Of Employees Give A 7-day Resignation Notice
Cadient has found that 65% of employees only give a notice of 7 days to their workplace that they are resigning from their current position. The usual protocol is employees should give a two weeks notice that they will be leaving the company so that employers can smoothly transition into hiring new talent. This protocol is not a legal mandate, so not many people will uphold this principle when transitioning jobs, especially if they have been dissatisfied with their job experience.
2. Text Message Campaigns Are On the Rise
The Society for Human Resource Management revealed that employers utilizing text messaging campaigns skyrocketed by 94 percent compared to usage rates in 2022. While some organizations still utilize email communications, companies have seen better candidate engagement during recruitment with automated text campaigns and personalized messaging with applicants.
3. Employee Turnover Keeps Getting Higher
The United States Bureau of Labor Statistics has revealed in a recent survey that retail positions have a naturally high turnover rate of 60%. Whether you are in retail or another industry, employee turnover has been naturally getting higher.
In 2021 and 2022, the average turnover rate was 47%, which decreased to 41%. However, the construction industry remains an industry with some of the highest turnover rates besides retail at 54% as of 2023. The best way to reduce turnover is by analyzing key HR metrics and KPIs to make data-driven hiring decisions. Using AI-driven keyword searches to auto-evaluate applications and resumes can enhance time-to-hire and improve candidate quality so there’s less chance for turnover in the future with the new hire.
4. About 51 Of U.S. Employees Consider Changing Organizations
A recent Gallup poll revealed that 51% of American employees are actively looking for a new job or regularly seeking one. Job dissatisfaction is one of the main reasons for employee turnover. This highlights how pivotal it is for companies to address the reason behind employee dissatisfaction to reduce overall turnover rates.
5. The Best Candidates Are On the Job Market For 10 Days
Lynchburg Regional SHRM revealed in 2017 that the best candidates in the workplace market are usually only present for 10 days on average. As these greatest candidates actively seek jobs, their skill sets will be seen as highly treasured by any company that comes across their resume. Hence, it’s best to review applications and resumes as soon as possible when they arrive in the ATS software’s queue so there’s a better chance of your company securing the best talent for an open position.
6. Job Board Integration Enhances Candidate Sourcing
About 84% of employers utilize social media in their recruitment marketing strategy because of its broad reach and ability to build a more refined employer brand. Hence, utilizing an applicant tracking system with job board integration can help your company enhance candidate outreach via social media if you haven’t already.
Cadient integrates with job boards like Indeed, Monster, ZipRecruiter, and others. Having your jobs posted to these well-known job boards will expand how many potential candidates will view your posting before possibly placing an application.
The Benefits of HR Software
Now that you know more about the statistics behind recruitment, let’s discuss how having HR software can benefit your company.
Streamlines Recruitment and Onboarding
HR software reduces the need for the recruitment team to complete manual tasks. Calling to schedule interviews can be replaced with candidates auto-scheduling themselves from a queue of available time slots the recruitment team pre-approves. Analyzing applications and resumes with the human eye can be replaced with AI solutions that utilize keyword research to find the best candidates based on what’s written on their applications.
Efficient Employee Management
Employee information can be better organized and managed on HR software. Each candidate will have a profile containing their performance reviews within the company, a copy of their application and resume, a write-up of their experience, and more. These refined profiles make it easier if an employee has to transfer locations or is promoted to a new position.
Enhanced Compliance
HR software has the latest and most compliant documents for hiring and maintaining employee records. From W2s and 1099s during the early days of onboarding to forms for specific license renewals, this software will remind you if any paperwork is needed to be fully compliant.
Improved Data Accuracy
HR software, especially an integrated ATS and HRIS, will ensure the highest data accuracy when transferring information from the recruitment stage to the new hire stage. Information from the company’s applicant tracking system (ATS) can be automatically transferred to the Human Resource Information System (HRIS) when the new hire transitions from an applicant to a recruit.
Self-Service Portals
Employees can update their personal information, such as if they have a name or address change, in a self-service portal if your company invests in HR software. They can also retrieve their pay stubs and tax paperwork as needed for their records. Employees can also edit their benefits package and request time off with the right HR software.
Conclusion
We hope you have taken into consideration the impact of recruitment software and statistics on the industry. Show your boss these recruitment statistics and hopefully, he or she will agree to invest in a recruitment system for your business.
As a bonus, here are examples of interview questions from Miami University that recruiters can ask candidates to test their intrinsic values such as adaptability, motivation, and professional and self-development. There are also questions encompassing positional and engagement values to round out your streamlined interview questionnaire that you plan to ask each candidate.
