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4 stats your business needs to know for 2020

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Do you know what candidates want? When it comes to finding stellar employees, it’s never been so crucial to understand what’s on their wishlist during the recruitment process.

Through our day-to-day work at RHL supporting clients and candidates in technical professional sectors, we see how businesses who get this right stand a greater chance of succeeding in the war for talent.

So here we’ve picked out four pieces of research that will give you an insight into what’s important to the people you aim to add to your team as we enter a new decade.

54% of companies have lost candidates because they haven’t recruited fast enough

The days of taking your time to snap up a stellar candidate straight after interview are long gone - and research backs this up. When HR directors and hiring managers were quizzed about hiring practises for one survey, 54% said they’d lost candidates because they’d taken too long to complete their recruitment.

The kind of talented technical professionals we get to know at RHL won’t wait around for a job offer, so it’s key to streamline your recruitment process if necessary - and move quickly to get strong candidates on your team.

If nothing else, let job hunters know the timescales involved in your recruitment process from start to finish. Read more of our tips on how to make sure you get the candidate you want on your team, here.

61% of candidates say compensation details matter most in a job description

There’s a definite art to writing effective job descriptions, particularly as your role might have only a few seconds to make an impact before a candidate scrolls onto the next opportunity.

And research from LinkedIn shows what matters the most to potential employees.

When it asked candidates to highlight parts of job descriptions that would make them most to apply, the sections on salary and workplace benefits overwhelmingly stood out.

Keep in mind that stellar candidates are likely to be viewing multiple job descriptions and have a clear idea of what they’re looking for (and probably what they’re willing to change employers for). They need to know quickly what the role will offer them, so be clear on salary range and highlight the most appealing aspects of your benefits package.

There’s been a 78% increase in job posts mentioning flexibility

Flexible hours were once considered a nice workplace perk, but now more and more candidates routinely expect it to be a serious possibility.

The data agrees. When LinkedIn analysed its job postings for the last two years as part of its latest Global Talent Trends report, it spotted a huge upturn in job posts mentioning flexibility.

It’s wise to be aware of this new shift - and if it’s logistically possible for your business, highlight how you aim to give employees more flexibility and remote work options.

A good candidate experience makes people 38% more likely to accept a job offer

Savvy businesses already know that candidate experience - how well a candidate feels they’ve been treated and communicated with when they apply for a role - counts for a lot.

Now it’s clear that employers who prioritise candidate experience can have their pick of talent. IBM Analytics research highlights that a good experience during recruitment can make people 38% more likely to accept a job offer.

So focus on making candidates feel valued throughout the recruitment process. That might be communicating with them regularly and following up quickly, helping them feel at the centre of your interview process and then making the offer process (or feedback in the case of rejection) efficient and streamlined - whether that’s with technology or personal interactions.

You can read more on our advice about candidate experience, here. 

There’s no doubt that this candidate-driven market is set to get even more competitive – and having your pick of talent in 2020 and beyond means understanding what candidates want and need. Smart businesses who keep this as their main focus will win in the long-term.

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