37+ Hiring Statistics & Trends [2024 Study]

March 8, 2024 0 Comments

Finding good workers is super hard these days, right?

A recent study found that 60% of companies say hiring challenges are worse now than 5 years ago.

How are companies changing how they hire people?

What problems are making hiring so tricky? 

The numbers show some interesting stuff about how hiring is different now.

From using AI to getting people to know your company is cool.

We’ll share the stats that show where hiring is working and where it’s tough.  

Keep reading to see the facts on the challenges, new ideas, and future of hiring people!

75% of candidates say employer brand affects job pursuit likelihood

Top Hiring Statistics: Editor’s Pick

  1. 38% of talent acquisition teams now use AI-powered automation. [1]
  2. And 25% use AI to scan applications and resumes. [2]
  3. 86% conduct automated video interviews analyzed by AI. [4]
  4. 61% of job seekers check sites like Glassdoor for inside intel. [7]
  5. 72.8% of hiring managers say evaluating candidates virtually makes it harder to identify skills and fit. [11]

AI Automating Recruiting

38% of talent acquisition teams now use AI-powered automation

AI is infiltrating recruiting workflows, aiming to increase efficiency in high-volume hiring.  

38% of companies have integrated AI recruiting tools for sourcing, screening, interview scheduling, assessments, and more. [1]

Top use cases include:

Algorithmic screening. 25% use AI to scan applications and resumes [2]

Chatbot recruiting. 47% utilize bots for candidate communications [3]

Video interviews. 86% conduct automated video interviews analyzed by AI [4]

Predictive analytics. Over 50% apply data modeling to forecast best candidates [5]

While automation promises to streamline hiring volume, critics argue it may inadvertently compromise diversity efforts by perpetuating bias. Responsible AI development is critical.

Rising Employer Brand Importance

A company’s reputation and values now weigh heavily in candidates’ interests. 

In fact, 75% report employer brand affects whether they will apply for and accept job offers. [6]

Here’s what shapes perceptions:

Online reviews. 61% check sites like Glassdoor for inside intel [7]

Social media. 58% follow companies for culture clues [8]

Generation of candidates who found job on social media

Source: PRNews

Referrals. 47% ask friends and networks about workplace experiences [9]

PR and news. 50% pay attention to headlines about corporate behavior [10]

With talent in high demand, organizations must clearly communicate their value proposition to stand out.

Remote Hiring Still Challenging

72.8% of hiring managers struggle assessing candidates virtually

Remote hiring skyrocketed out of necessity – but has yet to be mastered.

72.8% of hiring managers say evaluating candidates virtually makes it harder to identify skills and fit

Top virtual hiring pain points:

Reading body language. 22% find it difficult over video [11]

Soft skills assessment. 67% say it’s easier to assess hard skills than soft skills virtually

Building rapport. 52.2% struggle making personal connections remotely [13]

Collaboration. 52.8% find it tricky for panelists to interact seamlessly

While remote hiring opens talent pools, refinements are required to hire effectively from a distance.  

Measuring Quality of Hire

Are new hires excelling or struggling?

Most companies can’t say.

Only one-third systematically measure quality of hire through metrics like performance, satisfaction, and retention. [12]

Quality of hire measures used by organizations

Source: Harver

Better understanding of hiring success could reveal recruiting process weak spots to refine.

But for most, quality assurance remains an aspiration not standard.

The Candidate Experience Gap

Only 57% of candidates rate their application experience positively

Candidates crave fast, transparent, and respectful hiring processes. Most aren’t getting that.

In fact, only 57% of applicants rate their experience positively. [14]

Poor experiences are attributed to:

Lack of communication. 45% report ghosting by recruiters

Lengthy processes. 60% say drawn-out timelines with no updates   

Confusing steps. 50% don’t understand the hiring process [14]

With jobseekers in control, fast and thoughtful hiring experiences are imperative for engaging talent.

FAQs

What percentage of hires come from employee referrals?

Data shows that employee referrals account for more than 30% of all hires. Referred candidates are also faster to hire and have higher retention rates.

How many people find jobs through social media?

Studies indicate that around 84% of employers use social media for recruiting.

What is the average number of interviews before getting hired?

On average, candidates go through 3 interviews before receiving a job offer. Initial phone screens and 1-2 rounds of in-person interviews are common. More senior roles may have additional rounds.

What is the average time it takes to fill an open position?

According to recent data, it takes an average of 42 days for employers to fill an open position. The time can vary based on the seniority of the role, number of candidates, and length of the interview process. 

How important are soft skills for getting hired?

Soft skills like communication, collaboration, problem-solving, and emotional intelligence are very important for getting hired. Surveys show 77% of employers prioritize soft skills over hard skills when evaluating candidates. Strong technical skills alone are not enough.

Wrap Up

There’s good news and bad news about hiring people today.

Companies have to work harder to find good workers because everyone wants the same smart people! That makes hiring tough.

But new technology is also making it easier in some ways.

Companies can do video interviews and things like that now.

The key is using the tech to help find good workers, but also treating job candidates nicely. 

Companies need to show they are a good place to work. 

If they do that, they can find all kinds of talented people from everywhere. Then everyone wins!

Source

  1. Zipdo. Essential Ai In Talent Acquisition Statistics In 2024.
  2. NPAworldwide. AI-Powered Recruitment Tools
  3. Recruitmenttech. The era of conversational AI in recruitment: ‘It’s an assistant, not a bot’
  4. Harvard Business Review. Where Automated Job Interviews Fall Short
  5. SHRM. Predictive Analytics Can Help Companies Manage Talent
  6. iSmartRecruit. 11 Biggest Recruitment Challenges Faced by Recruiters in 2024
  7. HRDive. 61% of job seekers visit company sites before applying
  8. PRNews. Nearly Half (48% each) of Gen Z and Millennials With Work Experience Have Applied to Jobs They Found via Social Media
  9. Galt. Mastering Candidate Experience: Essential Insights for Employers 
  10. Linkedin. The Importance Of A Company Reputation When Hiring
  11. Testlify. Top 5 challenges in remote hiring and how to overcome them
  12. InterviewStream. Quality of Hire: What It Is, Why It’s Important, and How To Measure It
  13. PRNewswire. Survey: How A Year of Virtual Recruiting Transformed the Job Search Process For Gen Z
  14. Jobera. 19+ Candidate Experience Statistics & Trends [2024 Study]