With Halloween coming up, I decided to put together top 3 HR stats that have transformed the world of Talent Acquisition. Advances in technology and HR analytics enabled us to measure many different things, and we should use these stats to make more informed decisions.
It is even spookier that there are still some companies that haven’t adjusted their recruiting and hiring strategies yet. They are refusing to follow the latest HR trends not realzing that the “War for talent” is getting more and more intense.
Stat #1: 73% of candidates are passive job seekers
Passive job seekers are people who are not actively looking for jobs, but would be willing to accept a better option. Remember, a better option doesn’t necessarily mean more money bu ability to learn and flexibility.
That can be flexible working time, education, opportunities to grow, benefits, cool projects, and many other. That being said, not being able to offer more money, doesn’t always justify your inability to hire best people.
But what does this stat mean for the world of Talent Acquisition?
Unlike passive job seekers, active ones constantly look for new opportunities. The only 3 possible reasons for that are: being jobless, hating their current job or just liking to change jobs often. Would you want to hire someone with these characteristics rather than someone who is successful, happy and rewarded at their current job?
I don’t think so…
So let’s take, as an example, the simplest and one of the oldest ways of recruiting… also called “post & pray” method with which you post a job to job boards and wait for candidates to apply. Which group of candidates, do you think, you reach with these job ads? Passive or active job seekers?
So the reason why this stat is so important is because HR professionals need to understand that old recruiting methods mostly focus on active job seekers. Newer recruiting strategies such as Recruitment Marketing and Inbound Recruiting focus on attracting passive job seekers.
Want to learn more about most productive Recruitment Marketing strategies? Here is our free guide!
Stat #2: Top candidates are gone within 10 days!
According to research, top candidates stay available for 10 days only. I believe that this famous statistics has encouraged HR professionals, leaders and influences to start talking more and more about improving Candidates Experience and encouraging Candidates Engagement.
Being able to not take forever to give feedback and communicate with candidates, gives you a huge competitive advantage over companies who are stealing best candidates from you.
Don’t let them do that!
Take this statistic and think about what can you do to fasten your hiring and selection process.
- Do you use a sourcing tool to find candidates?
- Do you use an ATS to streamline and fasten your recruiting process?
- Do you use a Candidate Relationship Management tool to improve communication and build stronger relationships with candidates?
- Is your career site appealing and application form easy to fill out?
- Do you have a structured Employee Referral Program?
- Do you use Inbound Recruiting strategies to keep candidates engaged?
These are just a few examples of how fastening up your hiring process and building relationships with candidates from your talent pools can make this stat less scary!
Stat #3: There are 50+ candidate-employer touchpoints throughout candidate journey
A touchpoint is a point of interaction between the candidate and the organization. Touchpoints can be direct person-to-person interactions like emails, phone screenings and interviews to indirect interactions such as visiting a company website, career site, social media profiles or filling out application forms.
Touchpoints can also happen through third parties, such as reviews on Glassdoor, social media posts shared by employees, current employees words and many more. Every interaction, no matter how big or small, is a touchpoint.
Did you know that even before a candidate gets a screening call or enters their first interview, most have already had as many as 50+ touch points across the employer brand and organization? — Christopher Mengel
Why is this important?
Not having a strong Employer Brand and strategy for communicating it consistently thoguhout all the channels directly hurts your reputation and credibility. As a consequence, you are unlikely to attract high-quality job candidates.
This stat is probably the biggest reason why HR professionals have started saying that recruiting is turning into marketing and that candidates should be treated as customers.
Attracting high-quality candidates to come work for you is the same as attracting customers to buy your product. Before they make a decision they can make hundreds of different touschpoint with the brand, marketing and sales people…
What’s you favorite statistic?