Fresh start, fresh hiring strategy? Or more of the same old same old?
The recruitment world is always evolving, but the past few years have been particularly erratic.
From the talent shortage to the pandemic reshuffle, it’s been quite the whirlwind. To recenter our recruitment efforts and get the scoop on what’s next in the world of hiring, we analyzed the hiring paths of over 6.8 million applications for open positions across the US and Europe.
And what we saw might surprise you.
Today we’ll share the top five takeaways every recruitment expert should be thinking about to hire better, faster, and stronger in 2023.
So what’s the Source of Hire report all about?
Every year at Breezy, we make it our mission to uncover the top job boards and recruitment channels that receive the most applicants, interviews, and job offers.
As small to midsize businesses restabilize from the aftershocks of the Great Resignation and start to take a more proactive approach to retaining and recruiting top-notch job seekers, we wanted to once again check in and take the temperature of top hiring sites to help you get the most effective recruiting ROI.
The data for this latest report was collected over the period March 31, 2021 to April 1, 2022, and spans nine of the top job sites — Indeed, LinkedIn, Facebook, Jooble, ZipRecruiter, Glassdoor, WeWorkRemotely, and StackOverflow — as well as company career portals and hires made by external recruiters.
By presenting and interpreting this source of hire data, we believe that hiring teams and recruitment leaders can rebound and recruit top talent faster than ever, even in the midst of belt tightening and high-speed talent races.
Our 5 top takeaways from the report
1. The number of applications is up 62%
When it comes to making better hires in less time, hiring managers have got to go broad before they go deep. Which means a larger talent pool is a must.
Breezy users received 6.8 million applications for open positions across the US and Europe, from LinkedIn to Google and everywhere in between.
This is almost a 62% increase in the total number of applications from 2021 to 2022, from 4.2 million to 6.8 million. In 2020, Breezy users received 2.2 million applications, meaning that the number of applications for employers using our platform has more than tripled in the past three years.
This application growth is not only impressive, it also suggests that despite economic pressure, a widespread shortage of talent, and the shift in attitudes toward work-life balance — there is no shortage of applicants. You just need to find the right ones.
The takeaway: The talent is there. You just need to attract it.
2. Offers made from job boards are up 379%
A tried-and-true recruitment tool, job boards are like a recruiter’s Google for driving traffic from incoming applicants. (Or Bing, if that’s your jam.)
According to our latest Source of Hire Report findings, this has been a big year for hiring qualified candidates from job boards. With a huge 379% increase in offers made from candidates coming in via third-party job boards attracting, and then screening for, the right candidates is vital.
This also indicates that the increase in application volume doesn't necessarily come with a decrease in the quality of applicants, but it does suggest that once you've attracted a broad pool of quality candidates, you'll need systems in place to pinpoint your top candidates quickly.
Ultimately, the employers best positioned to snag the best candidates job boards have to offer will be those that have clear screening processes in place to identify and connect with top candidates sooner. As the phrase “talent race” suggests, speed is going to be more important than ever this year.
Job boards (especially free ones) are often seen as 'table stakes' — posting on a job board almost feels too easy compared to more "advanced" recruitment methods and sourcing efforts like employee referral programs or well-branded recruitment marketing campaigns. But sometimes, simple really is best. And, perhaps more importantly, fast.
The takeaway: Accelerate your recruitment strategy with job boards.
3. More applicants (but fewer interviews)
According to our report, big upticks in job offers don’t happen on their own. There’s a lot of behind-the-scenes, recruiting team work that goes into vetting those applicants.
But first, let’s take a look at the data.
In 2021, there were fewer applicants and more interviews. In 2022, there were 62% more applicants and fewer interviews. This suggests an increase in pre-screening, which helps companies ensure they're interviewing only the best applicants.
From education verification to skills assessments, pre-screenings ensure that you only follow through with best-fit candidates who have the skills and integrity.
By evaluating a candidate’s skills and personality before interviewing them, employers can save time and get the right offers out faster. For the best results, invest in pre-screening tools to shorten your time to hire.
The takeaway: Pre-screen your candidates. It’s worth it.
4. Indeed is still top for total hires
Indeed still holds the top position for number of hires. In 2021, it accounted for over 32% of all hires. Last year that figure nearly doubled to almost 60%.
As the #1 source of hire, the data shows that Indeed is the best option for employers looking to hire a high volume of candidates quickly.
Indeed is followed by LinkedIn (15.9%) and Facebook (10%).
The takeaway: Always post your open roles on Indeed.
5. StackOverflow cuts time to hire down to 34.21 days
In case you haven’t caught it yet, a common theme is emerging from this year’s annual Source of Hire report:
The candidates are out there. You just need to know where to look.
And if you’re looking for faster hires, niche and premium job sites may be your best bet.
Across all the job sites used, programmer-specific site StackOverflow holds the top spot for the shortest time to hire at 34.21 days. This figure is followed closely by WeWorkRemotely at 34.84 days and 64.49 days for Google.
On average, the time to hire across all job boards was 91.5 days. So while shelling out a little extra cash for premium boards may seem frivolous, you can shave nearly two months off of your time to hire. That’s a major return on investment.
This may also suggest that speedy hires for tech and remote roles are more in demand than ever — and premium job boards may be the best place to find them.
While Indeed and other big-name sites attract a wide range of candidates looking for a wide variety of jobs, specialized sites like StackOverflow and WeWorkRemotely cater specifically to programmers and remote workers respectively, making it easier to connect with professionals with the exact skill sets you need.
The takeaway: Invest in specialized job sites for speedy hires.
So what’s the ultimate takeaway?
As always, the recruitment landscape is evolving.
While these changes may seem confusing at first, we like to see every hiring paradigm shift as an opportunity to do better.
If our Source of Hire 2022 data insights prove anything, it’s that staying vigilant and using the best recruitment channels will win you top-tier candidates time and time again. Especially when you put in the work ahead of time.
At Breezy, our mission is to make that work easier. We know hiring great candidates isn’t the only item on your to-do list.
Download the full, free Source of Hire Report report to dig deeper into the latest trends shaping the world of recruitment. Or, start making better hires in less time, with a free 14-day trial of our easy end-to-end recruiting software.