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Apr 14, 2020

Recruitment statistics to watch out for in 2020

Articles, Blog

Written by Jason Grant

Job seekers use social media, email, phone and SMS to communicate with companies – which one ranked the highest?

  • Phone 74% 74%
  • Email 73% 73%
  • SMS 24% 24%
  • Social Media 16% 16%

We found out that the highest percentage of job seekers contacted companies via phone, secondly through email, thirdly through SMS, and lastly through social media at a low 16%.

(source: https://financesonline.com/hiring-statistics/) (clutch.io, 2018) 

Job seekers felt that calling was the most direct and reliable channel to increase chances of getting results rather than through a social media application. Email was used to inquire in a less-urgent but a more polite and professional manner. Social media was left out due people being sceptical about social media platforms being serious enough to produce results.

However…

84% of companies use social media for recruitment!

Now let’s switch it around, the current statistics show that 84% of companies use social media for recruitment! This is due to both paid and organic social media marketing on social media to reach out to candidates on a broader level. LinkedIn, again, proves to be very popular amongst recruiters. The data here shows that there is a clear misalignment to tools used to match both the candidates and employers to the relevant jobs. 

Millenial Job Seekers

The first key point here is that currently 88% of millenials use social media daily! Secondly, it is predicted that millennials will make up to a third of the global workplace by 2022 and then will make up to around 75% of the global workforce by 2025.

Another interesting statistic is that 80% of millenials want to work overseas and 93% of millennials see ongoing skills development as an important part of their future careers. 

(source: https://financesonline.com/hiring-statistics/)

Cloud Technology

Cloud technology and the Saas subscription model is driving the growth of the HR software industry, which is predicted to be worth more than USD $10 billion by 2022!

The growth here is due to HR software maintaining data that is confidential in nature such as employee information, home address, social security numbers and financials which are better in higher demand. Also, the introduction of new tools such as candidate searching, advertisement management, and candidate relationship management with the integration of Facebook and LinkedIn is also heavily contributing towards the growth of this cloud technology.

Our experienced software architecture and engineers at 7 Peaks Software assist on integrating your internal and external third party systems with your solution for best possible workflow and performance. Explore more on our cloud solutions here.

(source: https://www.grandviewresearch.com/industry-analysis/hr-software-market)

What’s your mission?

79% of candidates consider a company’s mission before applying for a position. A mission can be made through the company’s values, vision and purpose – candidates want to know why the company does what they do. If the company and the candidates’s mission/values match, it will highly increase the chance of the recruiter hiring a good fit.

(source: https://www.glassdoor.com/employers/resources/hr-and-recruiting-stats/)

Time-to-Hire

52% of recruiters say that their time-to-hire was over 3 weeks long; with the average length of interview being 27.5 days long. Time-to-hire simply means how long it takes for the recruiter to successfuly hire a candidate –  the time elapsed between engaging a candidate and then accepting an offer. As time is money, hiring the fastest whilst maintaing a good quality of the hire is ideal.

(source: https://www.cmdrecruitment.com/blog/2019/04/the-hiring-statistics-you-need-to-know)

Diversity in the workplace

Companies in the top tier for culturally diverse executive teams were 33% more likely to experience above-average profitability than companies in the bottom tier. It is important to show multi-cultural diversity in today’s workplace.

7 Peaks Software currently has over 58 team members from 18 different countries! We ourselves value multi-culturalism to build a global team.

(source: https://www.glassdoor.com/employers/resources/hr-and-recruiting-stats/)

Keeping each other updated 

81% of job seekers say employers continuously communicating status updates to them would greatly improve the overall experience. Updates could simply be a message on LinkedIn or an email updating how the steps are going, how the process is going, and importantly – the estimated outcome and how long until completion.

(source: https://learn.g2.com/recruitment-statistics)

Make online hiring a good experience

59% of candidates have abandoned an online application due to issues or bugs on the website. If you want better conversions for online job applications, make sure that your webpage functions well to give a good user-experience to the candidate who is applying online.

(source: https://financesonline.com/hiring-statistics/)

Online Reviews

4 in 5 job seekers research a company’s online reviews and ratings when deciding whether to apply for a job. Positive reviews, especially from close peers, go a long way for gaining credibility in recruitment. Job seekers want to hear the experiences and stories from a person who has personally worked at the company before. Making use of team and office photos for job seekers to see helps too.

(source: https://www.cmdrecruitment.com/blog/2019/04/the-hiring-statistics-you-need-to-know)

More tech jobs to be added

More than 5 million information technology jobs are to be added globally by 2027! Jobs and careers in tech will only continue to boom – this is due to the ever-changing technology trends that demand more technology specialists across the globe. So, if you’re thinking of breaking into tech, now is a very good time. 7 Peaks Software is always looking for more talent to join our growing team. Explore our careers page here to find out more.

(source: https://financesonline.com/hiring-statistics/)

A sense of purpose

60-78% of employees feel that their job gives them a sense of meaning and purpose – with the field of technology scoring the highest! Employees have more of a need to feel a care for the job which in their views are more important than monetary or status values.

(source: https://www.paycor.com/resource-center/hr-statistics-you-need-to-know)

BONUS:

Here are the top 5 skills that recruiters will look for in 2020:

1) Time Management

Time management comes down to how organized you are and how you manage your workload throughout your day. Are you using your time effectively to get the most important things done first? A tip here is to prioritize the important tasks first. If you have several tasks, don’t spend too much time on one thing, but rather take small breaks from it and move onto another task and so forth. Use web apps such as this tomato timer to keep track of when to put your head down and work and when to take breaks. Don’t burnout!

2) Integrity/Honesty

The definition of integrity is being whole, honest and complete. A good example of having integrity is taking care and being true to your words – as your words will define your actions. Make people trust your words by being honest, reliable and consistent. In simple terms, make sure to do what you say and say what you do.

3) Creativity

How can you bring new ideas to the table? How do you test different techniques and strategies to change old results to better results? Think outside the box and take a more modern, up-to-date approach to solve problems. Keeping up with the current trends and leveraging the ever-changing online tools out there can be a great ally here.

4) Adaptive/Critical thinking

Adaptive thinking would mean to adapt your resources and brain-power to whatever is shifting in the current workplace. It could be a sudden change of plan or a task you were not prepared for. Whatever it is, make sure your mind is ready to tackle these issues head-on to solve the issues fast through critical thinking and actions. Also make sure to be mentally open and prepared to face these type of challenges for whenever they occur.

5) Emotional Intelligence

Emotional intelligence is how well you control your emotions through your mind-power. This is vital as there will be ups and down during the workplace, but whether you win or lose, your emotions must maintain the same in order to strive forward.

 Conclusion:

Technology will only become more vital in the future of recruitment

The players who will win the long-term game of recruitment are the ones who will make the most out of this rapidly changing technology. Social media platforms such as LinkedIn has been a game-changer for recruiters in the digital age. Tech jobs continue to grow due to more demand of technical talent to fulfill emerging technical roles. Cloud technology will continue to be vital for storing candidate information and to help track recruitment processes. But very importantly, a wide range of communication channnels and internet speed has been vital for successful recruitment in this day and age and will be for days to come.

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Sukhumvit Soi 13, Khlong Toei, Klongtoey Nua
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+66 2254 7585
sales@7peakssoftware.com
support@7peakssoftware.com

7 Peaks Software

2nd floor, 185 Dhammalert Building
Sukhumvit Soi 13, Khlong Toei, Klongtoey Nua
Bangkok, 10110

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