Recruiting Industry Statistics

Many companies have been paying too much for too little for too long. Many companies are utilizing too many valuable resources on recruiting. HR departments and hiring managers are understaffed, and don't have the tools to manage the volume. Their time would be better spent concentrating on core competencies and retention issues.

The following are some interesting statistics.

Saratoga Institute

• "In 2000, for 3 consecutire years, the median cost per hire for exempt employees was approximately $12,032."
  

Bureau of National Affairs

• "Median rates of separation averaged 21.4%"
  

Bureau of Labor Statistics

• "In 1950, employees worked for a single company for an average of 22 years...in 1998, the median number of years [was] down to 3.6 years, edging downwards to 3.2 years in 2005."
  
• "In 2004, a person entering the workforce will make a career change on average every 3 to 4 years."

• "The Information Technology Association of America estimates that there are nearly 350,000 more information technology jobs than qualified people"
  
• "Unemployment decreased from 5.4% in 1996 to 4.9% in 2005."
  
• "The number of workers between the ages of 25 and 34 will shrink by nearly 9% by 2006."
  

Society of Human Resource Management (SHRM)

• "An HR Trends survey said that finding candidates was their single greatest employment challenge, followed by retaining those hired and selecting the best qualified employee."
  

Recruiters Update

• "IT employment grew to 108% in 2002 and one in five staffers will leave their organization each year."
  
• "It takes an average of 6.2 months to replace each staffer with 3 or more years of experience."
  
• "Average high technology employee turnover rates for certain areas is 24.5%."
  

Hacket Group

• "Highly qualified HR professionals spend the bulk of their time on lower value-added, routine activities"
  
• "They [HR professionals] spend less than 3 hours a day helping to acquire, develop, and plan the optimal work force."
  
• "...only 32% of HR professionals' time is devoted to fundamental employee development..."