9 Global Recruiting Statistics Every Talent Acquisition Leader Should Know
The economy may continue to show signs of life, but the labor market remains incredibly competitive for job seekers and recruiters alike. Job openings have risen as wages remain stagnant. Hiring managers face a more demanding talent pool with an increasingly high level of technical literacy and mobility.
To help recruiters assess the full scale of these challenges, LinkedIn released its fourth annual Global Recruiting Trends report. Considered the largest survey of its kind, the report compiles opinions from over 4,000 talent and recruiting leaders among 31 countries.
LinkedIn highlights some of the top sources of quality hires, as well as the growing influence of social media (if you want to dig deeper, you can read the full report here). Below, we’ll share some of the key statistics and trends.
1. Only 30% of survey respondents said their job listings are optimized for mobile
This is compared to just 18% in 2013. And 34% said they’ve mobile-optimized their career site. So why the bigger focus on mobile? It’s been widely reported that total internet usage on mobile phones has surpassed desktops. By the beginning of 2015, smartphones and tablets served up 38% of all web pages viewed worldwide. And in 2016, an estimated 86% of candidates will search job listings on a smartphone. You’d be hard pressed today to find a hiring manager who doesn’t believe in the potential of mobile recruiting.
2. Among recruiting leaders, 63% expect an increase in hiring volume
And 46% estimate their hiring budgets will rise. Yet just 39% of worldwide CxOs believe overall staffing levels are increasing, according to a separate LinkedIn study. This disparity can be explained in part by the ongoing crisis in the Eurozone, where the on-again, off-again ‘Grexit’ has undoubtedly halted some hiring managers in their tracks. Slower growth and higher debt among developing economies may also be a factor. But the employment outlook among the G7 looks more promising, with only Canada making a slight downward revision in its net employment outlook levels so far this year.
3. Almost 50% of recruiters think recruiting will become more like marketing over the next 5-10 years
46% see a top trend of “recruiting becoming more like marketing.” Makes sense—improved candidate experiences, increased presence on social media, strengthened employer brands—all of these buzzwords take marketing tools and apply them to better methods of talent acquisition.
4. 46% of respondents blame competition and compensation as their biggest obstacles to hiring top talent
Competition is a particular concern among businesses in Southeast Asia, Canada, the U.S., the Netherlands, and France. As hiring volume increases and the amount of people who recently changed jobs rises globally, talent acquisition leaders will have to work harder to attract and retain their best hires.
5. 29% of respondents listed investments in employer brands and improved employee retention as the biggest threats they face from competitors
According to LinkedIn, the average employee stays with one company for four years. So recruiters must balance current and future employee needs. On one hand, they must develop corporate cultures that attract hires for the long haul and reward loyalty. Yet they must also maintain, or in some cases revitalize, the employer brand to stay relevant as technology and social pressures force businesses to change everything from product lines to hiring practices.
6. Employee turnover can be cut back by 28% simply by investing in employer brand
LinkedIn estimates that cost-per-hire among businesses with strong brands is more than two times lower. And a solid employer brand is more likely to attract passive candidates, a bonus when you consider that 75% of global candidates are passive job seekers, not actively looking for work.
7. Over 70% of respondents place serious weight on their employer brand
When it comes to attracting quality hires, only 50% have a proactive strategy in place for their brand. Countries leading the way include South Africa, India, those in Southeast Asia and the U.S. Technically nimble and socially savvy, companies in these regions are becoming more responsive and engaging, not just during the candidate experience, but also as they manage their reputation.
8. The career website is still the most effective way to promote a company’s brand
Career sites still top the list. Additionally, the data shows that businesses have clearly noticed they are more likely to be seen by and interact with customers and candidates alike if they maintain an active presence on social sites.
9. Only 24% of top recruiters believe they make good use of the data at their disposal
Half of the survey respondents said their data is effectively applied to long-term workforce planning and leadership development. This kind of strategic workforce planning should go hand-in-hand with recruitment practices, but any hiring manager will tell you their work can’t simply boil down to a stack of numbers. Data in recruitment includes personal interactions, which need to merge with an increasingly data-driven talent acquisition process. The key for recruiters in a globalized, plugged-in world, is knowing how to add up the right numbers, but also how to read between the lines.
Clearly, a few themes stand out here: career sites and the candidate experience are still a crucial tool in today’s war for talent, employer brand seems to be quickly gaining ground as a top-of-mind focus for recruiters, and the power of analytics (although not so widely adopted) is not going overlooked as the world becomes more data-driven.
Thinking about taking your candidate experience to the next level? Start by reading our new eBook, The Role of Job Alerts in a Modern Recruitment Marketing Strategy. A copy can be found by clicking the button below: