According to data published by the Recruitment & Employment Confederation (REC) at the end of last year, the UK’s recruitment industry grew by 11% to an impressive £35.7 billion in 2017/18.
With both permanent and temporary placements on the rise and the industry expected to grow by another 5% by 2021, there couldn’t be a better time for companies to start hiring again or for employees to seek out exciting new opportunities.
To help you out, below are 10 interesting recruitment facts and how they can help you.
Candidate recruitment facts
Approximately 80% of available jobs are never advertised.
Sticking to job boards alone means that you could be missing out on so many valuable opportunities. Don’t be afraid to contact companies directly or sign up with a recruitment agency. They’re often the first to hear about new vacancies and because they work closely with their clients, their input is highly regarded.
On average, 118 people apply for any given job. Only 20% of applicants get an interview however.
This statistic highlights the importance of tailoring your CV to the job you’re applying for and taking the time to write a cover letter explaining why you’d be great for the role. Working with a recruitment agency can go in your favour once again because they can really help to sell you into the company.
The average time spent looking at a CV is just five to seven seconds.
It’s important that your CV stands out from start to finish. Keep it clear and concise and make sure a potential employer knows why they should hire you immediately.
Proof-read your CV several times as well. Just one spelling or grammar mistake could land your CV in the bin and 76% of employers disregard a candidate if they have an unprofessional email address.
Employer recruitment facts
The average cost of replacing a member of staff earning £25,000 a year or more is £30,614.
Finding out an employee is moving on is never great news but sadly, it’s inevitable. With the cost of hiring so high however, it’s important to get it right the first time round. If you’re struggling to find the right candidates, why not consider working with a recruitment agency? They’re experts at finding the right people to fill roles and because they’ve already got a database to hand, they can speed up the process too.
Aside from the date and location, 61.8% of candidates receive no information prior to their interview.
The candidate experience you provide has a huge impact on your business and ability to attract great talent.
If you treat candidates well from start to finish, they’re more likely to accept the role, talk positively about you to others and remain a loyal employee.
Don’t forget to provide feedback regardless of whether someone was successful or not. On average, just 5.5% of unsuccessful candidates are given feedback they find even moderately useful and of that, only 2.6% of candidates receive specific and valuable feedback.
55.9% of candidates say they’ve interviewed for a job where they didn’t receive feedback at all and 20% were provided general or limited feedback.
On the flip side however, 56% of candidates who felt they had a positive hiring process experience said they would seek employment with the company again in the future, 37% would tell others to apply there and 23% would be more likely to purchase products or services from that company.
If you need help finding your next job or top employee, please don’t hesitate to get in touch with Choralis Consultingand we’ll be more than happy to help.