Recruiting Report: Candidates have the upper hand
Updated: Apr 6
Jobvite just released its 2021 Recruiter Nation Report, which surveyed 800 HR pros and recruiters about the current state of hiring, their priorities, challenges they’re facing and more.
And the verdict is in: Hiring is tough this year. Here are some highlights of the types of challenges recruiters are experiencing:
59% of companies have had increased turnover since the beginning of the pandemic
47% of hirers say finding qualified candidates is their biggest stumbling block, and
65% of recruiters have increased stress over hiring.
Goals and tactics
With all these difficulties, what are recruiters’ goals now? Here are the top hiring priorities for the next year:
Improving quality of hire (48%)
Improving time-to-hire (28%)
Increasing retention rate (26%)
Growing talent pipeline (25%)
Updating hiring tech (21%), and
Increasing diversity (18%).
HR pros are also trying new tactics to source candidates. Here’s where they’re looking:
Job boards (33%)
Internal hires (30%)
Company career site (30%)
Recruiting events (28%), and
Social media (27%).
More money, remote work
Another finding from the report? Candidates hold the power right now. Whether they want higher pay or flexible work arrangements, employers need to grant the requests — or risk losing them.
Hirers reported a 73% increase in candidates negotiating a higher salary, which is up 20% from 2020. More than half of HR pros (54%) have experienced candidates turning down a job offer — or even an interview — because remote work or flex schedules weren’t an option.
Fifty-seven percent of respondents believe their company’s lack of remote work policies are holding them back in the search for talent.
A lot of HR pros recognize that hybrid workplaces are going to be necessary in order to remain competitive in the talent market. Only 14% of companies plan to require 100% in-office attendance. The most popular option, with 47% of companies adopting it, is three days in the office and two days at home.
If you don’t have a hybrid work plan in place yet, you may want to do it sooner rather than later: 60% of employers believe they’ll begin to lose employees if they don’t offer some sort of remote option.