The following is a snapshot of our bi-annual
Talent Acquisition Market Report for 2022.
Jobtrain - the company behind JTGO - processes many tens of millions of applications per annum, and that has provided our Talent Intelligence Unit access to a huge amount of data. We combine this with external research and our candidate survey data Candidata ™ to form our JobBrain ™data engine.
This delivers insights across the market and in specific sectors for recruitment activity and candidate behaviour, at both macro and micro levels, to help with benchmarking and learning insights to our clients.
A snapshot of the Q1; 2022 Market Report
After pooling 26,000 vacancies, 18 industry sectors, and over 7,000 candidates surveyed, we found that just 4% of candidate applications came from recruitment agencies, 5% came from internal hires, and a whopping 91% came from external hires!
Despite the challenges of recruiting externally, internal candidates remain a tiny fraction of applications. This means it's time to reassess your employee value proposition - we have tips to help on this here.
Indeed is overwhelmingly the largest source for where candidates come from. However, interestingly a lot of organisations still don’t track the source of online applications, or only do so for job board postings, but not other methods, especially offline ones (though they could use QR codes).
On average 73% of applications had no tracked source. If you're not tracking them now, you certainly should be. JTGO - our affordable recruitment software - offers source tracking and free job boards as standard.
As of December 2020, 97% of vacancies were being advertised as office-based. This is a huge number, but it comes with a major caveat. A lot of the sectors experiencing a vacancy "boom" are associated with frontline work.
Care homes, FMCG, education (etc) don't have a working from home option due to the nature of the work. With these sectors releasing more vacancies to fill the gap left by "The Great Resignation" it skews the numbers.
We explore this in more depth in the full, free report which you can download here!
Increasingly, our clients are seeing the value of participating (and advertising the fact) in schemes and accreditations such as the Disability Confident or Athena Swann scheme. They are supporting this with technology and processes, for example providing onscreen accessibility support or anonymous shortlisting.
47% of racial minority candidates progressed past the application stage. Is this a sign that companies are being more conscientious in their hiring strategies?
Last year, we spoke to Michelle Brown at VERCIDA about EDI initiatives and how we can improve even further. The biggest takeaway was that advertisements and representation were important, but companies needed to focus less on perception and more on their recruitment funnel.
Looking at our data - it looks like this is working! The first thing our clients ask us for help with is their ED&I strategy - and moving into 2022 we'd be surprised if this didn't remain at the top of the agenda.
Numerous surveys and studies advise that Generations Z candidates (recent job market entrants and those for the next decade) will eschew full time and office-based working.
A high volume recruiter involved in front line health care and customer-facing services recently found that full-time adverts yielding 0 applicants, almost immediately yielded 100 candidates when advertised as part-time / flexible hours!
The short answer is - too much to highlight in one blog! But you can download our full findings here for free. We're incredibly proud of the work our talent intelligence team has undertaken, and we know it will influence our own hiring practices for the rest of the year!
The report covers: