Homepage
Blog
30 Recruiting Statistics/Learnings from 2022 to plan for 2023

30 Recruiting Statistics/Learnings from 2022 to plan for 2023

by

Raj Abishek

March 24, 2023

From the drastic shift in the talent market to technological advancements in recruiting, hiring has completely evolved in the last decade. Acquiring top talent is the key to every company’s success, and increasing competition adds up to the challenges. 

Fast-growing companies need a lot more than the expertise and experience in talent that they hire. This has led to the emergence of a candidate-driven market and recruitment practices need to be changed accordingly too. As a recruiter today, it is vital to keep up with the latest global trends and learnings to shape your hiring strategy.

In this blog, we will discuss the top recruiting statistics that you must learn from to be ready to deal with recruiting challenges of 2023.  

What are Recruitment Statistics?

To understand the trending recruiting practices and move your hiring in the right direction, you need to learn from recruiting statistics that we are carrying into 2023. 

The huge difference between the supply and demand of quality talent is a great example. Candidate behavior is changing, the primary way of sourcing talent has become outbound, and the perks attracting quality applicants have transformed too.

Without analyzing relevant data and statistics collected over the last few years, figuring out the talent market is like shooting in the dark. Let’s dive into the ins and outs of the most relevant recruiting statistics of 2022, and analyze the improvements and transformation required for recruitment success. 

Why Data-Driven Hiring is Vital Today?

In today's fast-paced business world, organizations face the constant challenge of hiring the right talent. Data-driven hiring solves this at large. Here are the top 3 benefits of data-driven hiring today:

  • Identify the right talent: First and foremost, data-driven hiring can help companies to identify the most suitable candidates for a particular role. By analyzing various data points, such as past work experiences, skill sets, and personality traits, organizations can make more informed hiring decisions. Companies that use data-driven insights in their hiring process are three times more likely to retain their employees.
  • Eliminate Bias: Another major benefit is that it helps to reduce bias in the hiring process. Many organizations face the challenge of unconscious bias, which can lead to the exclusion of certain candidates. Data-driven hiring, on the other hand, uses a standardized approach, which is not influenced by any personal biases. This ensures that all candidates are evaluated based on their skills and experiences, rather than any irrelevant factors.
  • Save costs: Furthermore, data-driven hiring also helps organizations to save time and costs in their recruitment process. By using automated tools and techniques to screen candidates, recruiters can focus on interviewing only the most suitable candidates. This can significantly reduce the time and resources spent on the recruitment process. 67% of recruiters believe that using data-driven hiring approaches can save time in the recruitment process.

Apart from making better hiring decisions, this approach also empowers recruiters to improve the recruitment process as a whole. By analyzing trends and performance data, organizations can gain insights into their recruitment process and make data-driven decisions to optimize it. 

If done consistently, this leads to better hiring outcomes, improved candidate experiences, and a more efficient recruitment process.

Top 30 Recruiting Statistics to Carry into 2023 Recruitment Plans

  • Shortage of Skilled Talent
  1. 63% of recruiters say talent shortage is their biggest problem.
  1. 80% of organizations say they are having difficulty filling openings due to an ongoing shortage of skills.

As a recruiter, investing in your company's employer brand and creating a positive work environment can help you attract and retain top talent. By offering flexible work arrangements, competitive salaries and benefits, and opportunities for growth and development, you can position your company as an attractive employer for job seekers.

Another effective approach is to broaden your search beyond the traditional talent pool. Instead of relying solely on applicants who have specific degrees or work experience, consider candidates who have transferable skills or who come from non-traditional backgrounds

  • Candidate Sourcing Challenges
  1. 70% of the global workforce is made up of passive talent who aren’t actively searching for jobs, and the remaining 30% are active job seekers.
  1. 64% of talent teams find more high-quality candidates through sourcing than inbound applications.

To source passive candidates effectively in 2023, employers can leverage social media and professional networking platforms to reach out to potential candidates directly. 

An effective way to scale your sourcing is by using data analytics and artificial intelligence to identify candidates who match the required skill set and experience. Employers can also make the best out of employee referral programs to tap into their existing talent pool and leverage their networks. 

For example, a company looking for a software engineer can search for potential candidates on LinkedIn and use automated tools to reach out to them with personalized messages. They can also encourage their employees to refer their connections, offering incentives for successful referrals. 

  • Remote Hiring
  1. Due to the pandemic, there has been a 105% rise in remote job offerings
  1. 86% of employees want to continue working remotely at least sometimes. 

Remote hiring has allowed companies to expand their candidate pool globally, increase diversity and inclusivity, and reduced costs. It has also sped up the recruitment process, as video interviews can be conducted quickly and efficiently. Soft skills like communication and collaboration have now become more critical than ever.  

Recruiters can now make more informed decisions in less time.

  • Outreach Channel
  1. Email is ranked the most used (51%) and most effective (39%) channel to reach candidates.
  1. 73% of job seekers communicate with companies via email.

Pro-tip for recruitment emails: Firstly, the subject line should be clear, concise, and attention-grabbing, to entice candidates to open the email. It is vital to ensure your emails should be personalized and tailored to the individual candidate, highlighting why they would be a good fit for the position. Keep it to the point, focusing on the most relevant information about the job and the company.

Another crucial aspect of using email effectively is maintaining a strong follow-up process. This involves sending follow-up emails at specific intervals to remind candidates about the opportunity and reiterate the value they could bring to the company.

  • Candidate Experience
  1. 89% of talent say being contacted by their recruiter can make them accept a job offer faster.
  1. 81% of candidates responded that employers who continuously communicate status updates improve the candidate experience.
  1. Organizations that invest in a strong candidate experience improve the quality of their new hires by 70 percent.

Candidate experience can significantly impact a company's reputation, as well as its ability to attract top talent. With the rise of social media and online reviews, candidates have more opportunities than ever to share their experiences with others. A negative candidate experience can deter not only that individual but also others from applying for future positions.

Here are three tips to ensure an optimal candidate experience:

  • Communicate effectively and frequently: Keep candidates informed about their application status and provide timely updates on the next steps. Use clear and concise language, and be responsive to any questions or concerns they may have.
  • Streamline the application process: Simplify the application process as much as possible. Avoid long and complicated forms or excessive requests for information that are not necessary for the initial screening.
  • Provide a positive and engaging interview experience: Ensure that interviews are well-organized, timely, and respectful of the candidate's time. Also, make sure that the interviewers are well-prepared, and professional, and provide a positive and engaging experience for the candidate.

  • Bad Hire
  1. The average cost of a bad hire is 30% of that hire’s annual salary.

Pro tip: Use behavioral-based interviewing techniques. This approach involves asking candidates about past experiences and how they handled specific situations, which can provide insight into their skills, values, and work style.

For example, instead of asking a general question like, "Are you a team player?" you could ask, "Can you tell me about a time when you had to work closely with a team to achieve a goal, and what was your role in that project?" This type of question requires the candidate to provide specific details and examples, which can help you to assess whether they have the skills and qualities you are looking for in a candidate.

  • Social Media Recruiting
  1. 73% of millennials found their current roles through social media.
  1. 66% of recruiters post job openings on social media.

Social media has made it easier for recruiters to showcase their employer brand, promote job openings, and connect with candidates directly.

Candidates love social media recruiting because it allows them to learn more about potential employers and their company culture, while also providing a convenient way to search and apply for jobs.

The key to standing out as an employer on social media is to be authentic, engaging, and transparent. This involves creating content that highlights your company culture and values, responding promptly to messages and comments, and providing candidates with a clear picture of what it's like to work for your organization. This can help to build a strong employer brand and attract top talent.

  • Employer Brand
  1. Established employer brands attract 50% more qualified applicants.
  1. According to 47% of recruiters, social media helps a great deal in employer branding.

A strong employer brand helps you to differentiate your organization from competitors, communicate your values and culture, and create an emotional connection with potential candidates. A strong employer brand can also help to retain current employees and reduce turnover.

One good example of a company with a strong employer brand is Google. Google has created a distinctive and highly recognizable brand that emphasizes innovation, creativity, and employee empowerment. This brand has helped Google to attract some of the most talented and sought-after professionals in the tech industry.

Requirements for a strong employer brand include a clear and compelling mission statement, a positive company culture, a commitment to employee development and growth, and transparent and effective communication with employees and candidates. 

It is also important to ensure that your employer brand is consistent across all channels, including social media, job postings, and employee communications.

  • Employee Referrals
  1. Referred roles are 55% faster to hire than other means, too, and 25% more profitable.
  1. 45% of referral hires stay longer than four years, compared to only 25% of job board hires.

One of the easiest yet most effective ways of sourcing quality talent, employee referrals is all about leveraging existing employee networks to identify and attract potential candidates.

Referrals tend to be of higher quality and better cultural fit, and the referral process can be more efficient and cost-effective than other sourcing methods.

The future for employee referrals looks promising, as more companies are investing in referral programs and leveraging technology to streamline the process. 

Referral programs are becoming more sophisticated and data-driven, and companies are experimenting with new incentives and rewards to encourage employee participation. 

  • Company Culture
  1. 77% of job seekers consider a company’s culture before applying for a job.
  1. 86% of job seekers avoid companies with a bad reputation.

In 2023, company culture will continue to play a critical role in attracting quality talent. Job seekers are increasingly prioritizing workplace culture and values over traditional compensation and benefits, and companies with a strong and positive culture are more likely to attract and retain top talent.

A critical tip for companies looking to attract quality talent through their culture is to ensure that their culture is authentic and aligned with their values. 

Candidates can often sense when a company's culture is inauthentic or misaligned, which can ultimately lead to disengagement and turnover. Companies must also prioritize transparency and open communication to build trust with candidates and employees.

  • Flexible Work
  1. Job posts on LinkedIn that mention work flexibility have increased by 83% since 2019.
  1. Employees satisfied with their employer's time and location flexibility are 2.6 times more likely to report happiness and 2.1 times more likely to promote the company to others.

Flexible work is clearly here to stay. Not only does it provides employees with greater autonomy and work-life balance, but also benefits companies through increased productivity and employee satisfaction.

Modern recruiters should keep in mind that flexible work arrangements are increasingly becoming the norm and that offering such arrangements can be a competitive advantage in attracting and retaining top talent. 

  • Diversity and Inclusion
  1. Companies with diverse leadership teams at the top were 33% more likely to experience above-average profitability than companies with a diverse workforce only at the bottom level.
  1. 58% of respondents in a Glassdoor survey have said that they would not apply to companies where there is a pay gap.

Diversity and inclusion promote a workplace culture that values and respects individual differences and fosters a sense of belonging. 

It has become more significant now as it can help companies to build stronger, more innovative teams and create a positive reputation for themselves. 

Not to forget - companies with diverse and inclusive cultures are more likely to attract and retain top talent, and to benefit from a broader range of perspectives and ideas. 

  • Recruitment Technology
  1. 68% of recruiters said that investing in new recruitment tech is the best way to improve hiring performance. 
  1. Using automation for onboarding tasks results in a 16% improvement in the retention rate for new employees.

Automation and AI in recruitment are defining the present and future of recruitment by transforming the hiring process to be more efficient, data-driven, and objective. 

AI-powered recruiting tools are already being used for resume screening, candidate matching, and even video interviewing. As technology continues to evolve, it will likely play an increasingly important role in sourcing, candidate assessment, and talent management.

Not only do recruitment technologies help in streamlining the hiring processes, but enhance the candidate experience too.

Some use cases of hiring being affected by technology include candidate sourcing, engagement, skills testing, predictive analytics, and workforce planning. As technology continues to improve, it will be increasingly important for recruiters to stay informed about new tools and trends in order to remain competitive in the job market

  • The COVID-19 Impact
  1. 44% of recruiters say they are prioritizing remote flexibility for their workforce 
  1. Employees say they’re more productive now than they were before the pandemic (34% vs. 28%).

COVID-19 has changed recruitment at large by accelerating the adoption of remote hiring and virtual recruitment technologies. For example, a majority of companies have shifted to virtual interviewing and onboarding processes to comply with social distancing guidelines. This has opened up opportunities for companies to hire talent from anywhere in the world, and for candidates to apply for jobs they might not have considered before.

Additionally, the pandemic has also boosted employees' productivity in most cases. Remote work has allowed employees to avoid commuting and has given them more flexibility to balance work and personal responsibilities. A large number of employees globally have reported feeling more productive and engaged when working from home.

  • Onboarding Employees
  1. A great onboarding process can improve new hire retention by 82% and productivity by over 70%. 
  1. Investing in communication and engagement during the pre-boarding process can improve the onboarding experience by 83%. 

As a recruiter, it is crucial to serving optimal onboarding to ensure that new hires feel connected to the company culture, understand their job responsibilities, and are set up for success.

Some pointers to keep in mind when onboarding employees in a virtual environment include: 

  • providing clear instructions and expectations,
  • establishing regular check-ins with new hires, 
  • using video conferencing to facilitate face-to-face communication, and 
  • leveraging technology to provide training and support. 

By adapting onboarding practices to meet the needs of a virtual workforce, recruiters can help new employees feel welcomed and valued, while also setting them up for success in their new roles.

How Nurturebox Can Help You Transform Your Recruitment in 2023?

Do you often get overwhelmed by the scaled-up requirements when it comes to candidate sourcing? What stops you from transforming your entire recruitment strategy by sourcing and engaging hundreds of quality passive candidates at once? 

Recruiters already have more than enough on their plates and handling it all manually directly harms their productivity. The road to redemption? 

Automate the repeated mundane recruiting tasks and focus on human-centric ones. Nurturebox empowers your recruitment process with comprehensive candidate sourcing and engagement automation. 

That’s not all – the Chrome extension seamlessly integrates with your existing recruitment stack like ATS and enables you to source hundreds of candidates from LinkedIn within seconds. Strategic talent sourcing, engagement, and recruitment pipeline management just became a lot easier with Nurturebox. Try it now!

Recruitment insights you won’t delete. Delivered to your inbox weekly.

Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.