Recruiting Trends 2020

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The new year is here, and so are new recruiting trends for 2020.

Whether you’re an HR team of one at a small to mid-sized business or part of a recruiting team at a large organization, here are the most influential recruiting trends of the year and tips for your team to succeed.

48% of employers report talent shortages as their biggest hiring challenge

What’s worse is that one study found 87% of HR professionals reported “few or no qualified applicants” for the positions they were trying to fill. Talent shortage is the number one hiring challenge today, and it’s not going away anytime soon.

To reach a bigger and more qualified pool of talent, you’ll need to expand your candidate reach with a multichannel recruitment strategy. This means marketing jobs on social networks, job boards, and with professional associations. By implementing job marketing within your organization or working with a recruiting agency to market open positions, your company can expand its network and overcome the top hiring challenge.

Only 36% of candidates actively search for a new job

Talent sourcing is the process of reaching out to passive job seekers (those not actively looking for a new job) to build a proactive talent pool.

The majority of talent is not actively looking for a new job. In fact, 90% of global professionals are interested in hearing about new job opportunities, but only a third of them are actively looking for a new job.

Since passive candidates aren’t actively looking for a job, you won’t find them checking out your career site or job boards. Instead, you have to go where they are – on social media – to build your candidate talent pool. Or, you can engage a top staffing firm to proactively recruit passive talent on your behalf. 

Top candidates are only available in the job market for 10 days

57% of job seekers lose interest in a job if the hiring process is lengthy. Unfortunately, 70% of companies take anywhere between 1 to 4 months to make a new hire, as reported by LinkedIn. The
message here is clear: you need to drastically shorten your hiring process. Otherwise, you will have to face the cost of a delayed recruitment process.

The right candidates are out there. However, without an efficient talent sourcing strategy, HR professionals spend countless hours and invest a lot of effort trying to find them, but with poor results.

If you want to find high-quality candidates, you need to apply advanced talent sourcing strategies or work alongside an experienced recruiting agency to reach out to top potential candidates and shorten the hiring process. 

60% of job seekers have had a poor candidate experience.

As a result, 63% of these candidates reject a job offer, 72% of these candidates tell others about it and 64% of these candidates stop purchasing goods and services from that employer. In short, if you don’t improve your candidate experience, you risk far more than just losing candidates.

An overwhelming 81% of candidates say that the one main thing that would greatly improve their overall candidate experience is employers continuously communicating status updates to them. By implementing a talent CRM or partnering with a recruiting firm, you’ll be able to keep candidates in the loop at all times.

74% of employers admit they’ve hired the wrong person

This comes as no surprise considering that up to 78% of resumes are misleading and up to 46% contain actual lies, according to Criteria Pre-Employment Testing’s research

Unfortunately, a bad hire can cost a company upwards of $50,000. A bad hire can cause a significant loss in revenue, productivity and cause problems with employee morale and client relations.

Implementing the most effective candidate selection practices or partnering with a great staffing agency will ensure that you will choose the right candidate for your open job position and your company culture. Different skill assessment tests, scorecards and implementing interviews and assessment plans will enable the efficient evaluation and selection of candidates that best fit the job and company culture. 

67% of job seekers said a diverse workforce is important

78% of HR professionals say that diversity is the top trend impacting how they hire. Additionally, 67% of job seekers said a diverse workforce is important when considering job offers. 

To find diverse candidates, you should post jobs on diverse niche job boards and reach out to professional organizations focused on diversity. Or, you could work with a diversity recruiting agency with an abundance of diverse talent ready to get to work. 

 

Want support achieving your recruiting goals in 2020? Reach out to the BOWEN Group team to increase your speed-to-hire, improve the candidate experience, access diverse and passive talent, and overcome talent shortages.

Achieve Your 2020 Recruiting Goals

Reach out to the BOWEN Group team to increase your speed-to-hire, improve the candidate experience, access diverse and passive talent, and overcome talent shortages.