We love stats. LOVE them. And when those stats affect one of the most important business processes you have (hint: it’s hiring), we especially love them.
So if hiring is your jam, staying informed about what’s going on in the job market is crucial.
Check out these 5 stats that will change the way you think about the traditional process:
- Each job posting attracts around 250 resumes (Glassdoor).
- 75% of those hiring use software or applicant tracking systems (Capterra).
- On average, it costs $4,000 to onboard a new hire (Officevibe).
- 60% of applicants have quit the application process because it was too long (Officevibe).
- The average length of an in-person interview is 48 minutes (vidREACH).
Like every other facet of business, the hiring world is always evolving. To keep up with the pace, companies are turning away from the traditional process and towards technology to streamline the hiring process for both you and the applicant, slash time-to-hire and reduce hiring costs, all while increasing employee retention and happiness.
With video screening software, you can create job postings, review candidate submissions, select top applicants to invite to an in-person interview, save time (because let’s be real, we never have enough time anyway) and ultimately save money (love that!) by not having to replace a bad hire.
Did you know that on average it can cost a company $17,000 to replace a bad hire? That’s a lot of money that can be going somewhere else in your budget.
Don’t let a bad hire impact your business. At vidREACH, our goal is to help you streamline your hiring process through the power of video, saving you time, money and one giant headache. So what are you waiting for? Request a demo today!