- Companies receive an average of 136 applications for each open selection process.
- However, in sectors such as Internet and Technology, the figure drops to an average of 53 registered candidates per position.
- In the first quarter of 2017, the number of job offers grew by 39% compared to the same period last year.
The improvement in employment indicators, with 2016 closing with 390,534 fewer unemployed according to data from the Ministry of Employment and Social Security, as well as fierce competition to attract talent in certain sectors, are making it increasingly difficult for Spanish companies to recruit employees who meet their expectations. The average number of days needed to fill a vacancy stands at 156.
The situation is even worse when it comes to hiring engineers and personnel for the automotive sector, where the average number of days required shoots up to 194. On the other hand, there are areas such as energy and human resources, where the figure drops to 124 and 126 days, respectively.
“Companies must work harder and harder to attract talent. Candidates continue to gain decision-making power thanks to the Internet and social media. Some companies struggle to hire certain profiles,” says Ana Izquierdo, CEO of Talent Clue, a company specializing in software development for recruitment and selection departments.
In addition, around 64% of professionals are passive candidates1, meaning they are not actively seeking employment but may be interested in a career change. “It’s an excellent pool of talent, but companies find it difficult to access it,” Izquierdo points out.
All of this is directly related to the number of candidates received for each job offer. Thus, while the average is 136 candidates per position, those published in the Internet and Technology sector receive significantly fewer: an average of 53. At the opposite end of the spectrum are the consumer goods and logistics sectors, with averages of 451 and 199 candidates, respectively.
Talent, the most valuable asset for companies
In addition to the drop in unemployment figures and the difficulties many companies are encountering in filling certain vacancies, there is one more factor to consider: demand for talent in the labor market has been growing steadily since 2016.
According to data from Talent Clue, in the first quarter of 2017, 39% more job offers were published through its software. “Of the 988,709 job offers we registered in the first three months of 2016, we have gone up to 1,371,713 this year,” confirms Izquierdo.
Inbound Recruiting, towards a new recruitment model
“Until a few years ago, the usual recruitment system used by HR departments consisted of publishing job offers, first in newspapers and later on online portals, and waiting for candidates to apply. With the data we now have, that model no longer works,” says the company’s CEO.
That is why, at the end of 2016, Talent Clue launched the Inbound Recruiting methodology. With this system, Talent Clue seeks to adapt Human Resources departments to the reality of a digital age in which candidates have more power than ever before.
The approach is as follows: just as companies have websites to offer their products and services to potential customers, they must now have job pages and social media posts designed to attract, engage, and hire the best candidates. In short, traditional hiring processes must be turned upside down.
“Companies must adapt to this reality if they want to continue attracting talent. If we check hotel websites and Tripadvisor reviews before booking a vacation, why wouldn’t we do the same when looking for a job?” says Toni Gimeno, CMO of Talent Clue.
The application of this methodology is already yielding results for several Spanish companies. Thus, according to data from the software company, some of its customers have significantly reduced the time needed to close new contracts. From an average of 156 days in the country to less than 50.
1 According to data from the 2016 Global Talent Trends study, conducted by LinkedIn
To prepare this press release, data from 4,642 companies was analyzed, which published 56,484 job offers and received 9,132,957 applications.