The 2016 predictions, trend pieces, and recruiting stats are in. At the top of each year, thought leaders in the HR space look back and review main challenges and priorities that were top-of-mind, and then predict which of those will endure or change in the year ahead.
After surveying the many trend pieces, we noted the most common data points, observations, and predictions that human capital and hiring experts appear to agree on — the “safe bets” that the HR community are making, and which are most likely to impact hiring in 2016.
Below we’ve listed the recruiting stats that will influence your outlook, and perhaps your hiring strategy, this year.
In 2016, your recruiters and employer brand must be where the candidates are–and that is online, specifically on social media and mobile platforms.
- The number of American online job seekers has doubled since 2005. After surveying 2,001 U.S. adults, the Pew Research Center discovered that 54 percent of Americans use the internet to research available jobs, and nearly 45 percent apply for jobs online. In 2005, the number of online job seekers reached only 26 percent of Americans. (Pew Research)
- The use of social media for for recruitment has grown 54% in the the past 5 years. A recent SHRM study found that 84 percent of organizations are now recruiting on social media; only 56 percent of companies were hiring on social media in 2011. (SHRM)
- 82 percent of respondents reported leveraging social media to recruit managers, and 87 percent said they recruit other salaried employees using social platforms. (SHRM)
- 79 percent of job seekers use social media in their job search. This figure increases to 86 percent for younger job seekers who are in the first 10 years of their careers. (Glassdoor)
- About 1 in 5 have applied for a job they learned about through social media, and 13 percent of social media users say information they’ve posted on social media helped them get a job. (Glassdoor)
- About 28 percent of job seekers—including 53 percent of 18- to 29-year-olds—have used a smartphone as part of a job search. (Glassdoor)
Recruiting is becoming more difficult with longer hiring cycles, increasing competition for talent, and rising salary expectations.
- The time-to-fill metric increased slightly in importance–from 25 percent in 2014 to 28 percent–as a benchmark gauging recruiting performance. (LinkedIn Global Recruiting Trends 2016 Report)
- Almost half of employers (45 percent) said that the time to fill open positions has grown since 2014. (Source: DHI)
- Nearly half (47 percent) said unfilled positions are staying open longer due to unmatched salary requirements. (Source: DHI)
- A majority of hiring managers (56 percent) predict unmet salary requirements means higher salaries for new hires in 2016. (Source: DHI)
An employer’s brand can determine whether an individual considers applying for, accepting, and keeping a job.
- A weak employer brand can cost you job applicants: About 11 percent of job seekers said they would decline a job offer from an employer with a bad reputation–even if they were unemployed.
- A strong employer reputation can woo passive candidates: 84 percent of survey participants would consider leaving their current company if another company with an excellent reputation offered them a job.
- When evaluating employers, there are 3 things that matter most to Millennials 1) growth opportunities, 2) retirement benefits, and 3) work culture.
These recruiting stats and trends clearly point to rising use of social and mobile platforms in job searching and recruiting. Hiring managers and HR professionals just finished a year tailing one of the longest streaks of consistent job growth in US history.
With unemployment at just a little above 5%, the hiring challenges ahead will spring from the scarcity of active candidates and the demand for passive talent. Employers who aim to compete for passive talent must consider adopting social recruiting in their recruitment effort, or risk losing the best employees in this tightening labor economy.