Job seekers spend less time searching and interviewing due to low unemployment rates, a new survey finds. As open positions outnumber applicants, companies must compete for talent.
WASHINGTON, DC, September 26, 2018—More than half of recently hired employees (58%) say their job search lasted two months or less, according to a new survey from Clutch, a B2B ratings and reviews firm.
The findings reflect a tight job market that favors job seekers, forcing recruiters to act quickly to secure talent.
Approximately 30% of recent hires spend three to six months job hunting compared to 13% who spend more than six months looking for a job. Because applicants complete the job search quickly, they apply to fewer jobs total.
Companies That Make Quick Hiring Decisions Are More Likely to Secure Talent
Most recent hires moved through the interview process quickly before receiving an offer.
Nearly half of recent hires (43%) say they received a job offer less than two weeks after beginning the application process.
Companies that move quickly to interview, streamline the number of interviews, and make an offer are in a better position to secure employees, experts say.
“In today’s environment, companies that can condense their interview process to three to four interviews are more competitive,” said Chris Gardner, co-founder and CEO of Artemis Consultants, a recruiting firm in Columbus, Ohio.
Among recently hired startup employees, more than half (55%) say they received an offer at their current company within two weeks of beginning the application process, compared to slower recruiting processes at small (47%), medium-sized (37%), and large businesses (41%).
Overall, only 1% of recent hires accepted a job after interviewing for more than six months.
More Than Half of Job Seekers Apply to 5 Jobs or Fewer
More than half of employees surveyed (52%) applied to between one and five jobs during their most recent search, forcing companies to work harder to attract applicants.
One-third of workers (33%) apply to two to five jobs when looking for a new position.
In addition, nearly one in five recently hired employees (19%) say they only applied to their current job during their most recent search, suggesting that recruiters enticed these workers away from a previous position, without the need for a traditional job search.
“If [employees are] happy in their current jobs, you have to work hard to convince them that the opportunity you’re presenting is something they should consider,” said Jan Hudson, chief operating officer at Surf Search, a San Diego-based recruiting firm.
The Interview Process Impacts 90% of Employees’ Views of a Company
Nearly all recent hires (91%) say the interview process influences their overall opinion of a company, including 40% who say the interview process strongly impacts their opinion.
Experts stress that companies should carefully curate their online presence, paying special attention to their online reviews.
Clutch’s 2018 Recruiting Survey included 507 full-time employees who started a new job in the past 6 months.
Read the full report here: https://clutch.co/hr/recruiting/statistics-average-job-search-2018
For questions about the survey, a comment on the findings, or an introduction to the industry experts included in the report, contact Michelle Delgado at [email protected].
A B2B research, ratings, and reviews firm in the heart of Washington, DC, Clutch connects small and medium businesses with the best-fit agencies, software, or consultants they need to tackle business challenges together and with confidence. Clutch’s methodology compares business service providers and software in a specific market based on verified client reviews, services offered, work quality, and market presence.