10 Employment Facts
At Staffing it is interesting to read some of the interesting stats from the recruitment industry. Whether you are a staff agency, employer or candidate you will be surprised and facinated with the following employment facts (Updated May 2021):
- The average cost of replacing a member of staff earning is $5,000 and $9,000.
- On average there will be between 58 and 93 applicants for advertised jobs. Generally between 3% and 10% of these applicants get an interview.
- It was reported of the 17,000 new hires 51% of them failed within 20 months and of these, 91% left because their attitudes did not align to that of the organisation. Only 11% failed because of a lack of skills.
- 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 84% of available jobs never advertised you should never stop career networking.
- Many organisations use talent-management software to screen resumes that look at keywords to screen out up to 71% of applicants without ever looking at a resume or cover letter
- On average new talent take between 22 and 27 weeks to reach optimum productivity.
- companies report that 1 in 21 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.
- Other than the date, name of the contact and location, only 36% of candidates receive any information prior to an interview.
- Phone interviews last 25 minutes and face-to-face interviews last 41 minutes on average. In a survey of 3,000 hiring managers, 30% claimed to know whether or not they would hire someone within 10 minutes. After that, it usually takes 2 day to 10 days to hear from the recruiters with their decision.
- Companies on average look for the consider the following traits before making an offer: 29% look for multitasking skills; 30% look for initiative; 20% look for creative thinking; and 12% look for something else in the candidate.
For more Temp Staffing Company Career Advice see below additional resources to find the perfect job: