Hiring a new employee can affect everything from company culture to company profits. So, it’s no wonder the interview process can take about a month and almost two months to give an official offer to an applicant.
With more and more millennials entering the workforce and older generations retiring, hiring expectations are constantly evolving. Each group is very different in what it wants and needs at a job, causing a major shift in the industry.
We’ve gathered 60 hiring statistics to help provide a clearer picture of what to expect if you are currently hiring. Staying on top of the trends will give your company a better chance of landing the next superstar employee.
The average job opening attracts 250 resumes. (Glassdoor)
Only 2% of applicants will be called for an interview for the average job opening. (Glassdoor)
42 days is the overall average time it takes to fill a given position. (SHRM)
The interview process takes an average of 22.9 days. (Glassdoor)
It takes five to six weeks on average to get a job offer. (MRINetwork)
Hiring and Job Opportunities
Hiring volume is expected to increase 58% in the U.S., 67% in Mexico, and 76% in India in 2017. (Linkedin)
3.6 million executive leaders are set to retire in 2017. (MRInetwork)
75% of the global workforce will be made up of millennials by 2025. (Deloitte)
65% of recruiters report that the biggest challenge in hiring is a shortage of talent. (Jobvite)
Recruiters see a 7.6% increase in pay year over year. (Glassdoor)
In 2016, 74% of recruiters reported offer rejections at 10% or less. (MRINetwork)
61% of employers offered tuition reimbursement in 2016. (SHRM)
66% of employees participated in 401(k) or similar plan if offered. (SHRM)
6 percent was the average max 401(k) employer match. (SHRM)
16% of small businesses plan to increase employment opportunities. (NFIB)
30% of small businesses currently have job openings. (NFIB)
45% of small businesses found too few or no qualified applicants for job openings. (NFIB)
$1,872 is spent on average by small businesses to hire someone new. (Monster)
62% of small business owners have reported making a wrong hire. (Monster)
24% of wrong hires have caused a loss of customers. (Monster)
85% of small businesses looking to fill open positions found no applicants. (NFIB)
Hiring Biases & Diversity
67% of job seekers said a diverse workforce is important when considering job offers. (Glassdoor)
57% of employees think their companies should be more diverse. (Glassdoor)
45% think that hiring managers are in the best position to increase diversity (compared to the CEO or HR department). (Glassdoor)
When reviewing resumes, specifically looking at just the name, those associated with caucasian descent received 50% more callbacks than those associated with African American descent, regardless of the industry or occupation. (National Bureau of Economic Research)
Jennifer Gladstone is a news anchor and journalist with more than 20 years of experience in front of the camera. She's worked in several markets, large and small, and has performed nearly every task needed in a newsroom. As EBI’s Screening News Editor, she keeps EBI’s customers and blog subscribers up to date on the latest screening news and legislative alerts affecting companies of all sizes.