Getting the hiring process right is crucial for any business looking to grow and thrive. It's not just about filling vacancies but finding the right individuals who align with the company's culture and objectives. Effective hiring boosts productivity, sparks innovation, and strengthens a company’s workforce. However, the process extends beyond recruitment; integrating new hires effectively through structured onboarding is essential for fostering engagement and retaining talent long-term.
To give you a clearer picture of how impactful strategic hiring can be, we've compiled some of the latest statistics related to hiring. These insights will help underline the importance of each step in the hiring process – from attracting the right candidates to successfully integrating them into your team.
At flair, we provide tools that simplify and improve the hiring process. Our solution includes an intuitive career portal builder to help companies attract top talent, customizable onboarding workflows to help new hires integrate quickly, and efficient document management and e-signing features. These helpful features not only help companies to make their recruitment more effective, but they also improve the candidate experience.
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About 70% of candidates in the job market are passive job seekers, meaning they are not actively looking for jobs but would consider a better offer.3
89% of employers say candidate ghosting is a problem.7
94% of business leaders expect their workers to pick up new skills.10
93% of CEOs who introduce upskilling programs see increased productivity, improvements in talent acquisition and retention, and a more resilient workforce.10
76% of employees and job seekers consider diversity important in job offers.18
U.S. Job and Labor Market Statistics
The U.S. job and labor market is a vital area to understand because it shows us how healthy the economy is. Here, we look into important parts of the job market like how many people are employed, which industries are growing, how wages are changing, and how technology is affecting jobs.
58% of job seekers believe the labor market currently favors candidates, and 51% think it is easy to find a job now.5
In the last quarter of 2022, each job posting attracted an average of 26 applicants, a 23.8% increase from the previous quarter.5
Although 49% of American workers are not actively seeking new employment, 50% would consider a new opportunity if approached by a recruiter.5
Large enterprises experienced a 41.7% decrease in new job openings year-over-year between January 2022 and January 2023.5
There were approximately 8.1 million job vacancies in the U.S. at the end of November 2024.1
From November 2023 to November 2024, the total number of job openings deceased by 833,000.1
About 5.3 million new hires were made in November 2024, with a hiring rate of 3.3%.1
The total number of job separations, including quits, layoffs, and other reasons, reached around 5.1 million in November 2024, with a separation rate of 3.2%.1
The job opening rate is a valuable indicator for people looking for new opportunities or trying to understand consumer behavior. A notable increase in new hires suggests a healthy job market.
What's particularly noteworthy is that over half of those who changed jobs experienced a significant increase in their earnings. This highlights the value of career mobility, helping individuals find roles that better match their aspirations and skills.
The number of job openings in the professional services sector increased by 349,000 from November 2023 to November 2024.1
Job openings in the manufacturing sector decreased by 141,000 over the same period.1
Over half (51%) of individuals who switched jobs experienced an actual increase in their earnings.2
Job switching was more prevalent amongBlack and Hispanic workers, people without a high school diploma, and young adults.2
Approximately 70% of job market candidates are passive job seekers, not actively searching but open to offers.3
Top job candidates typically remain available for only about 10 days on the job market.19
Most Important Factors in Accepting a New Job
74% of employers currently report difficulties in filling roles.4
Companies in the healthcare and life sciences sector are most affected by the global talent shortage, with 77% of companies facing challenges.4
Germany is the country most affected by talent shortages, with 86% of companies reporting difficulties.4
National hiring in the U.S. dropped by 5.4% from September to 2024 and decreased by 8.5% compared to 2023.6
Hiring slowed down in all 20 industries from September to October 2024. Wholesale (-8.6%), Administrative and Support Services (-7.9%), and Accommodation and Food Services (-7.4%) were the hardest hit industries.6
All major U.S. metros experienced a slowdown in hiring from October 2023 to October 2024.6
The latest statistics show what's happening in the U.S. job and labor markets. The slowdown in hiring at the end of 2024 was largely caused by strikes across the nation and major weather events that affected businesses in all industries.
Recruiter Challenges Statistics
Recruiters today are confronted with multiple challenges, including swiftly identifying top talent, managing large volumes of applicants, and ensuring that candidates are a good fit for both the role and the company culture.
These challenges are compounded by the need to keep the hiring process both efficient and equitable. To help address these issues, tools like flair leverage AI to enhance recruitment processes, enabling faster and more accurate candidate evaluations, which can significantly streamline the overall hiring experience.
57% of recruiters expect that hiring new employees will be pose a challenge over the next 12 months.20
For 49% of talent acquisition professionals, improving candidate quality is a top priority.20
On average, it takes companies 47.5 days to fill open positions.20
31% of recruiters rate quality of hire as the top success metric.20
61% of talent professionals expect to increase spending on recruiting in 2024.20
50% of recruiters expect hiring to be turbulent in 2024.20
86% of HR decision-makers have a positive outlook on the future of talent acquisition.20
54% of tech organizations have a skill shortage.26
89% of employers say that candidate ghosting is a problem.7
33% of employers said that they had rejected other suitable job applicants, only to get ghosted by their chosen candidate.7
54% of U.S. employers believe that improving communication could reduce the risk of ghosting from job seekers.7
42% of job seekers say that they wouldn’t ghost employers if they were offered higher pay.7
The integration of AI by most recruiters and HR decision-makers reflects a significant shift towards technology-enhanced recruitment, which is crucial for staying competitive in talent acquisition. The optimism about the future of talent acquisition and the perception of upcoming challenges in hiring underscores a complex and evolving recruitment landscape.
The prioritization of candidate quality and the considerable average time to fill positions indicate a focus on precision in hiring, which is essential for achieving long-term organizational goals.
These trends, combined with the concerns over talent supply and the prevalence of issues like candidate ghosting highlight the need for adaptability and innovative strategies in recruitment.
Over half of job seekers (54%) consider flexible work conditions as a top benefit when searching for jobs.9
Nearly half (47%) of college seniors express interest in using AI technologies such as ChatGPT to assist in writing resumes or cover letters.9
If a job posting lacks a disclosed salary range, 43% of entry-level candidates are unlikely to apply.9
College seniors are less inclined (52%) to apply to a company if there are recent reports of layoffs.9
There's a discrepancy in salary expectations between college seniors, who anticipate earning just over $66,000 on average, and employers who plan to offer around $8,000 less.9
As job seekers increasingly prioritize flexible work conditions and transparency in job postings, recruiters must adapt their strategies to align with these evolving expectations.
By leveraging technology like flair, recruiters can enhance their efficiency in attracting and retaining top talent in a competitive job market.
Hiring Strategies Statistics
Organizations have been innovating their recruitment procedures to enhance their ability to attract and retain top talent. These modernized hiring strategies encompass enticing compensation packages and adaptable work arrangements.
94% of business leaders now expect their employees to acquire new skills.10
Millennials are 25% more likely than non-millennials to look for new job opportunities.11
A significant 77% of employees are prepared to learn new skills or completely retrain.10
Currently, the average turnover rate for new hires stands at 14%.11
By 2024, it is projected that 40% of workers will need up to six months of reskilling.10
44% of millennial workers are likely to pursue a new job within the next two years.11
93% of CEOs report that introducing upskilling programs has led to higher productivity, better talent retention, and a more resilient workforce.10
83% of global companies have low maturity in people analytics, indicating limited use of data-driven insights in managing workforce trends.11
About 74% of employees view upskilling as their own responsibility.10
The data shows that both employees and business leaders see the importance of ongoing learning and skill development. Many workers are willing to learn new skills, and leaders expect them to adapt to new job needs. However, challenges such as millennials frequently changing jobs and companies struggling to use data effectively to improve workforce skills still persist.
Talent shortages more than tripled between 2009 and 2019, with 69% of employers finding it hard to fill vacancies.21
In January 2022, the U.S. had 11.3 million job openings.12
By 2030, it's estimated that over 85 million jobs might remain unfilled because of a lack of skilled workers.22
Staffing agencies are not able to place 70% to 95% of their talent effectively.23
After a job assignment ends, 70% of contractors remain unplaced.24
Half of the contractors who are not placed immediately after an assignment never receive follow-up contact for another role.24
Top Uses of Data in the Hiring Process
Top Uses of Data in the Hiring Process
Recruitment and Technology Statistics
Technology has been actively contributing to the process of hiring employees. Tools like social media, video platforms, and applicant tracking software have been instrumental in expediting the recruitment process.
Similarly, job seekers have been utilizing technology to explore job opportunities and submit applications. These technological aids encompass job search websites and social media platforms.
Nearly half of job seekers (49%) prefer using search engines like Google to search for job openings.15
HR leaders highlight budget constraints (28%) and integration challenges with other technologies (27%) as thetop hurdles in using technology for projects.13
More than 42% of candidates prefer online job applications to other methods of applying.15
A substantial 68% of applicants have given up on job applications due to lengthy processes or too much required information.15
The appearance of a company’s career portal is important to 78% of candidates.15
79% of job seekers are likely to use social media platforms when looking for jobs.16
These statistics reflect the profound impact of technology and digital platforms on various aspects of the modern job market. From the use of online professional networks and social media for job searches to the prevalence of Google as a primary tool for seeking employment opportunities, it is evident that technology has become an integral part of the job-seeking process.
Diversity in Hiring Statistics
As organizations strive to create more inclusive workplaces, understanding and implementing diverse hiring practices becomes crucial. This not only helps in building teams that reflect the varied dimensions of society but also strengthens company culture and boosts financial performance.
Over 71% of respondents have noted progress in their company's diversity and inclusion (D&I) initiatives.17
However, only 37.2% of companies have set diversity hiring goals.17
Goals for fair compensation are part of only 30.6% of companies' objectives.17
A minority of companies set D&I goals for leadership and development nominations (11.4%), mid-level promotions (10.7%), and senior-level promotions (10.2%).17
Surprisingly, 26.5% of companies reported having no D&I best practices in place at all.17
At the end of 2024, LinkedIn’s global leadership team was 49% female.27
Representation of women in technical roles at LinkedIn is up to 29.9%.27
The relatively low percentages of companies with diversity hiring goals, fairness in compensation, and D&I goals for leadership and development nominations suggest significant room for improvement. This gap is further emphasized by the fact that a notable proportion of respondents lack D&I best practices.
60% of respondents said diversity within their sales team contributed to success.25
Top-quartile organizations for gender diversity are 25% more likely to outperform peers financially.25
Top-quartile organizations for ethnic diversity are 36% more likely to financially outperform.25
Diverse companies earn 2.5 times higher cash flow per employee.25
Top Reasons Why Companies Focus on Diversity
Top Reasons Why Companies Focus on Diversity
Diverse teams outperform others, making better decisions 87% of the time.25
Companies that highlight their diversity efforts in job postings attract 26% more applications from women.25
Inclusive teams are more than 35% more productive than less diverse teams.25
Organizations with dedicated DEI (diversity, equity, and inclusion) teams are perceived as 22% more likely to be viewed as industry leaders.25
A significant 76% of employees and job seekers say that diversity is a crucial factor when considering job offers.25
A strong majority, 80% of respondents, express a preference for employers that prioritize DEI.25
LinkedIn posts discussing diversity generate 1.9 times more engagement than other types of posts.25
About 60% of employees believe it is important for company leaders to publicly address diversity issues.25
Diversity is crucial for sparking innovation and improving decision-making in any workplace. Effective management of a diverse workforce involves streamlined HR processes, from recruiting to performance evaluations.
Frequently Asked Questions
Q1. What are the phases of a hiring process?
The hiring process typically involves posting a job opening, reviewing resumes, conducting interviews, checking references, and making a job offer.
Q2. How do I write an effective job posting?
To write an effective job posting, you should include a clear job title, a concise job description, qualifications required, and information about your company and its culture.
Q3. What is the importance of a well-defined job description?
A well-defined job description helps set clear expectations for the employer and the candidate. It outlines the roles, responsibilities, and qualifications needed for the position.
Q4. Where can I advertise job openings?
You can advertise job openings on various platforms, including job boards, social media, professional networking sites like LinkedIn, or a career portal on your own company website.
Q5. What types of interviews are commonly used in the hiring process?
Common interview types include phone, video, in-person, behavioral, and technical interviews.
Overcoming Recruitment Challenges
The job search, interview process, and workplace environment have all changed dramatically in recent times, with a significant shift toward digital interactions and operations. This trend is expected to continue due as technology advances and working habits evolve.
Both companies and employees are adjusting to these changes. Whether you're a job seeker or a current employee, it's crucial to stay engaged and adapt effectively to these new workplace dynamics.
Recruiting Software Powered by Salesforce
Looking for a recruiting software that helps you keep pace with modern hiring trends? flair is a top-rated recruitment app built on the Salesforce platform. With powerful features ranging from intuitive career portals to AI-assisted candidate screening, flair gives you the tools every efficient recruitment team needs.
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