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hiring statistics

Hiring Statistics that will Drive your Recruiting Processes in 2020 and Beyond

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Is your recruiting team aware of the most important hiring statistics for your company? Are you in the loop with current hiring statistics as we enter 2020? Knowing which areas are in need of candidates will enhance and engage your HR services and recruiting efforts.

Current Unemployment Rate
Heading into 2020 in the US, we have a current unemployment rate of 3.6%. This unemployment rate may come as a shock to some because, at one point in 2008, the US had a 9.8% unemployment rate! This unemployment rate is one of the lowest we have seen in the US. What do these hiring statistics mean to employers and employees? At a very high level, it means that companies may have a more difficult time finding the right candidates and as quickly as they need.

Statistics on Hiring
Which areas will require most hiring growth and hiring needs? The highest growth is occurring in the fields of leisure and hospitality, education and health, and the financial sectors.
Leisure and hospitality added 61,000 jobs in October 2019. Within the industry, employment rose by 48,000 in food services and drinking places. Job growth in leisure and hospitality has averaged 51,000 per month over the past 3 months, compared to an average of 19,000 per month during the prior 7 months.
Within education and health services, employment in social assistance rose by 20,000 in October. Most of the job growth came in individual and family services (+17,000). Over the past 12 months, social assistance has added 139,000 jobs, with 111,000 coming from individual and family services.
Financial activities added 16,000 jobs in October. Activities related to credit intermediation added 4,000 jobs. So far this year, employment in financial activities has increased by 104,000.
These statistics mean that your recruiting efforts should be focused on these sectors as they are in need of candidates or may need assistance with business reorganization.

How Does This Impact Hiring Statistics in the US?
To understand and be prepared for the hiring needs in the US, you need to follow the trends and focus on future growth as well as employee retention. SourceMatch specializes in recruitment and sorting out the hiring cost statistics for you and your company. If your company is feeling the costs of low unemployment and job mobility, then it’s best to allow a partner to guide you through the hiring statistics and the added savings for your company. The increases that were seen in the hospitality, health, and financial sectors, demonstrate a high need for recruiting support in those areas.

US Hiring Projections Through 2028
Are you prepared for the long term with regard to recruiting and consulting for your clients? Recruiting teams need a plan as employment (US) is projected to grow by 8.4 million jobs to 169.4 million jobs over the 2018–28 decade, the U.S. Bureau of Labor Statistics (BLS) reported. This expansion reflects an annual growth rate of 0.5 percent. By staying up to date with the hiring statistics, your company can be better prepared for the recruiting needs of the future.

High Needs Recruitment and Service
Which 10 fields have the most growth? Occupational employment jobs are included in the fastest-growing occupations. Recruitment and support for these industries are projected to continue through 2028. These include solar installers, wind turbine technicians, home health aides, personal care aides, occupational therapy assistants, information security analysts, physician assistants, statisticians, nurse practitioners, and speech-language pathologists.
Hiring statistics for occupational employment is projected to grow by 5.2 percent from 2018 to 2028, an increase of 8.4 million jobs. Many of the fastest-growing occupations are in healthcare and related services. Other rapid-growth occupations are in computer and mathematics and in renewable energy fields.
What does this mean for your company? These hiring statistics allow you to focus on the impact on your clients and this also gives you preparation time for recruiting efforts and goals. In a few words – it allows you to be proactive.

Source: U.S. Bureau of Labor Statistics


Education Statistics
What does the employment growth look like for high school degrees and beyond? 12.2 percent growth is projected for occupations in which a high school diploma or the equivalent is typically needed for entry, compared to the highest growth for master degreed individuals at 21.2 percent. Less than a high school education is seeing a growth rate of 14.1 percent and those with some college but without a degree, are seeing growth at 17.5 percent. Knowing which candidates meet certain education requirements will better advance your recruiting efforts and your clients’ needs.

Discouraged Worker Statistics
Are you aware of the huge amount of potential candidates that are “marginal”? This means that they are looking for work, but not finding their work preference. In October, 1.2 million people were marginally attached to the labor force, down by 262,000 from a year earlier. These individuals were not in the labor force, wanted and were available for work, and had looked for a job sometime in the prior 12 months. They were not counted as unemployed because they had not searched for work in the 4 weeks preceding the survey. Among the marginally attached, there were 341,000 discouraged workers in October, down by 165,000 from a year earlier. Discouraged workers are persons not currently looking for work because they believe no jobs are available for them. The remaining 888,000 persons marginally attached to the labor force in October had not searched for work for reasons such as school attendance or family responsibilities.

To conclude, SourceMatch is equipped with guiding you through the data, hiring statistics trends, recruitment, and hiring costs associated with these current and future trends. The US is seeing low unemployment, high growth in the healthcare, hospitality, education, installation (solar/ wind) and financial sectors. Book a meeting with SourceMatch to learn more and allow us to learn about your vision and growth strategy through a brief introductory conversation.

recruiting facts

10 Recruiting Facts that will make you Rethink the Whole Hiring Strategy

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Here’s a look at the recruiting facts we gathered that could make a difference in the way you approach your hiring strategy.

1. The healthcare insurance is the top benefit used to attract talent with 92% of employers stating they offer it.
2. 79% of employers say candidate experience is “extremely” or “very important” in their recruiting process.
3. The best practice for a memorable candidate experience is constantly communicating with candidates at every step of the process (voted by 72% of respondents).
4. 58% of employers have the best chances of finding entry-level workers, followed by 46% who have success in recruiting mid-level talent and 43% who are successful in finding professional talent.
5. 78% of respondents said they post jobs on their company website, while 72% used job boards like Monster or CareerBuilder.
6. Online recruiting strategies have gained popularity in the last few years, and as a result, 69% of employers say 50% to 100% of the jobs are filled by online applicants.
7. 62% say the biggest “pro” to online recruiting is a tie between increased exposure to a wider candidate pool and ease of use.
8. 71% say the biggest “con” to online recruiting is that it results in too many unqualified candidates.
9. For the 22% of respondents who say they do negotiate benefits with candidates, the top benefit to negotiate is: Paid time off (PTO), the amount of vacation, sick, and/or personal leave (69%)
10. Only 27% of respondents keep track of the “cost per hire” metric.

Create a hiring strategy based on recruiting facts, trends, and data that’s already validated in the talent market. You will see results in a short time.

Get in touch with SourceMatch to speak about how we partner with organizations to help them identify and recruit the best talent. Having a tailored recruiting solution can dramatically decrease your cost per hire!

Recruitment Statistics Infographic 2019

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A candidate driven recruitment market coupled with negative employer branding can make a recruiter’s job a hassle. If you also throw in the mix the talent shortage, the recruiter’s work becomes quite the challenge. Hurdles that recruiters will face in 2019 are no less challenging than they were before. This being the case, social media strategies and social listening tools, if used correctly, can ease the hiring process overall.

Understanding the statics regarding how the hiring process worked in 2018 is essential in understanding how to handle the challenges coming in the next few years. According to LinkedIn, the latest recruitment trends in the hiring process include diversity, new interviewing tools, data, and not last, artificial intelligence. Recruiting firms that harnessed the powers of these hiring processes had it good in 2018 and firms who want to strive must take notice of these trends.

A key statistical insight regarding diversity is that companies must not discriminate when recruiting. Companies who got on the bandwagon of diversity choose to do it because in their opinion it improved organizational culture (78%). Another statistical point of view is that when traditional points of view fail the most useful interviewing innovations that must kick in are soft skills (59%), job auditions (54%) and meeting in a casual setting (53%). The third major recruiting trend of 2018 was the increased use of data in the context of strategic hiring decisions. The numbers show us that 56% of the surveyed firms used data to increase retention rates. The fourth important HR trend of 2018 was the use of artificial intelligence in the hiring process.

Digital tools and automation
Recruitment automation improves the hiring process by making it more error-free.
Knowing all this, let’s follow up with some tips the can easily help to hire talented candidates using innovative hiring methods. 

The main observation we would like to point out is that recruitment in 2018 has more to do with social media than ever before considering that 67% of employers say social recruitment is vital in finding passive candidates, 66% of social hires weren’t looking for jobs when they were recruited by HR professionals using digital tools, and 63% of hiring managers say they successfully hired with social media.

The bottom line is: Go Social!


Recruitment Infographic 2018

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Are your recruiting efforts ineffective and inefficient? Have you gone through bad hires, money and time-consuming talent acquisition processes? Adapt your current hiring strategy based on the latest trends.

If you want to hire the right people, make sure their experience with your brand is a positive one.
Statistics show that job seekers consider the reputation of a company when applying to job offers. This means that offering good wages/packages won’t be enough to bring them to the table and especially if you want to attract the best people on the market.

Attract people that are talented and qualified by taking care of the employer branding.