We gathered some eye opening facts and stats to show you the hidden costs of tech recruitment so you don’t get caught out. Understand how candidates are really thinking and what to expect from your recruitment process.
As you will understand yourselves, being successful hardworking businesses in your own right, the most common question we get asked is how our tech assessments help our customers. And that’s the main point, isn’t it? It doesn’t matter how flash something is, what’s the point if it doesn’t help?
In our case, it’s about automating technical skills testing for recruiters and hiring managers and really the best way we can show how we can help is to provide some pretty eye-opening stats from the tech recruitment world. Even if you’re not interested in working with us right now, these snippets of information are certainly worth knowing so you’re fully aware of the hidden costs of tech recruitment and don’t get caught out.
So here you go, 8 recruitment stats you need to know
- Social recruitment is the most used platform to search for candidates – 79% of job seekers use social media in their job search. And 84% of organisations use social to recruit.
- It takes on average 26.2 days to fill a tech position.
- 47% of offers are declined because a candidate has accepted another position.
- 60% of candidates quit the application process because it’s too long.
The headline here is: A slow hiring process could be costing you.
- Each corporate job opening attracts around 250 CVs but only 2.5% go to interview – that’s a lot of screening.
- Spend for filling a role have risen to an average of $4000 in the US.
- You’re wasting on average 31 hours a month screening candidates – that’s nearly a whole week!
- Recruiting for project based roles are on the rise – you haven’t got time to waste on the wrong candidates and miss out on the good ones.
If you want to know how our Tungl (formerly Technically Compatible) tech skills assessments could save 1000's of pounds/dollars and hours by slashing your candidate screening time, contact us.