Hiring a new employee results in more than filling an empty spot in the company workforce. It affects everything from morale to the bottom line. The process is long. Millennials make up an increasing percentage of both the applicant pool and the workforce. Baby boomers are retiring. Generation Z is making its appearance.

Interesting facts

An EBI post by Jennifer Gladstone lists 60 statistics that can help today’s recruiters and hiring managers stay current with the hiring scene. Here are a few facts gleaned from that post and from following some of the links it provides:

• The average job opening attracts 250 resumes  Glassdoor
• 75% of hiring managers use recruiting and/or applicant tracking software  Capterra
• 43 days is the overall average time it takes to fill a position  SHRM
• Average cost to a small business for hiring a new employee is $1,872  Monster
• On average, 12% of employees voluntarily leave their position SHRM
• Hiring the wrong person can be costly to small businesses:  Monster
  • 69% experienced loss of time
  • 56% experienced loss of money
  • 51% experienced product errors
  • 24% experienced loss of customers

Different perceptions

Candidates and employers may have a different idea of what’s most important to job seekers. For example, 67% of them want a diverse workplace (Glassdoor), but according to one study (National Bureau of Economic Research), resumes with Caucasian sounding names received 50% more callbacks than those with African American sounding names.

What candidates want: MRInetwork

• 72% Advancement opportunities
• 57% Better compensation
• 48% Better company culture
• 47% Work-life balance

What employers think candidates want: MRInetwork

• 49% Competitive compensation packages
• 42% Work-life balance
• 40% Advancement opportunities
• 40% Collaborative environment

Success

Learning more about today’s hiring trends can help an employer find the right person for the right job and get them on board. Updating company recruiting practices and software makes a difference, too. Do both and stay on top of the hiring game.