17 essential HR industry stats for recruiters to bookmark and keep
How many people in your organization have been looking at jobs this January?
January always traditionally heralds a flurry of activity in the jobs market. People come back from the festive break revived and will begin looking in earnest for a new role if they’re not currently happy where they are. Even those who are content at work are not immune to the ‘new year new start’ mindset, and may look to see what is on offer elsewhere.
Today, we’re in a culture of employee mobility, especially among millennials – meaning the retention of high-performing talent is more vital than ever. With the war for talent still very much in play, organizations need to get ahead of the game and be ready for the January job seekers.
Whether your company has vacancies to fill or not right now, becoming a genuine People Company and an employer of choice will put you in a strong position to attract the top talent. It will also remind your current employees why you’re a great place to work.
If you want some extra inspiration or need a few reasons to convince your co-workers that now is the time to get ahead on the recruitment front, here are 18 recruitment statistics to inspire HR and People leaders to get a front foot on the jobs landscape this year.
Feel free to bookmark, use, save or email to yourself. You never know when they may be handy.
The state of employment in 2018
1. 54% of CEOs plan to increase their headcount in 2018 – up from 52% in 2017. (Source: PWC 21st annual CEO Survey).
2. Employment is projected to increase in the US by 11.5 million over the 2016-26 decade, an increase from 156 million to 168 million. This represents annual growth of 0.7%, up from 0.5% annual growth during the previous decade. (Source: U.S. Bureau of Labor Statistics, ‘Employment Projections: 2016-26’).
3. The UK reported 1.43 million unemployed people (people not in work but seeking and available to work), between August and October 2017, 26,000 fewer than for May to July 2017 and 182,000 fewer than for a year earlier. (Source: The Office for National Statistics, ‘UK labour market bulletin: December 2017’).
4. Only 10% of employees in Western Europe are engaged at work; by comparison, the figure among US employees is more than three times as high at 33%. (Source: Gallup, ‘State of the Global Workplace 2017’).
5. Over 75% of the reasons employees leave their jobs could have been prevented by their employer. Analyzing over 34,000 exit interviews uncovered the top five reasons employees said they left their jobs: career development (22%), work-life balance (12%), management behavior (11%), compensation and benefits (9%), and well-being (9%). (Source: Work Institute, 2017 Employee Retention Report).
6. 4.2 years – the average time a person stays in a job. On average, a person changes jobs 10 to 15 times during his or her career. (Source: The Balance, ‘How often do people change jobs?’).
The importance of great workforce experiences
7. 92% of employees said positive workforce experiences mattered the most to them, closely followed by flexible and remote working (81%), while being valued and recognized came in as the third most important aspect of employment (66%). (Source: Sage People, ‘Why your workforce isn’t working’).
8. 55% of senior management believe their company is a People Company – an organization which truly values their people and put them before everything else for success – whilst only 29% of current employees perceive their employer as a People Company. (Source: Sage People, ‘Becoming a People Company – the way to unlock fast track growth’).
9. Less than 50% of organizations have embraced People Company traits: just 39% say they are focused on designing great workforce experiences for staff, 36% monitor employee engagement regularly, and 37% have seamlessly integrated recruitment and on-boarding experience. (Source: Sage People, ‘Becoming a People Company – the way to unlock fast track growth’).
Upskilling and progressing
10. 74% of 10,000 employees surveyed by PwC are ready to learn a new skill or completely retrain to keep themselves employable. They see it as their personal responsibility – and not employers – to keep their skills updated. (Source: PwC, ‘Workforce of the future: the competing forces shaping 2030’).
11. 38% of millennials globally would leave their jobs within two years, if given the choice. (Source: The Deloitte Millennial Survey 2017).
12. Technology (70%), business services (67%) communications (60%) and hospitality and leisure (59%) are amongst the sectors with the highest demand for new recruits. (Source: PWC 21st annual CEO Survey).
13. 39% of women say the reputation or brand of the company is ‘very important’ to them when considering a job move, compared to 33% of men. (Source: Gallup, ‘Women in America – Work and Life Well-Lived’).
14. 2 million – the number of job applications Google receives every year. Only 1 in every 130 applicants lands a job. Google remains the No. 1 place to work for the eighth time in 11 years in the Fortune 100 Best Companies to Work For rankings. (Source: Staff.com, ‘What does it take to get a job at Google?’)
15. 79% of job seekers use social media in their job search. This figure increases to 86% for younger job seekers who are in the first 10 years of their career. (Source: Recruitics, ‘How job seekers and recruiters use social media for recruitment’).
16. 67% of job seekers use Facebook; 45% use Twitter, 40% use LinkedIn, 31% use Instagram, 25% use Pinterest, and 17% use Snapchat. (Source: Recruitics, ‘How job seekers and recruiters use social media for recruitment’).
17. Top 4 trends shaping the future of hiring and recruitment in 2018 – diversity (78% say it’s very or extremely important; new interviewing tools (56%); data analytics (48%), and artificial intelligence (34%). (Source: LinkedIn, ‘Global Recruiting Trends 2018’).
Want to get ahead in the war for talent and attract the best in today’s competitive job market? Download our research report from 500+ HR and People leaders to get their top tips.