Important HR Statistics to Know in 2018

Important HR Statistics to Know in 2018

There are many different aspects of human resources to consider, including the average number of applicants per position, how much it will cost to hire new recruits, and the length of the recruitment process, among other considerations.

Here are some important HR statistics to keep in mind throughout the year, which are helpful for any HR professional.

Attitudes Toward Work on a Global Scale

There are certain things you should consider regarding how people all over the world feel about work and the application process for new jobs, according to a 2016 study by Qualtrics:

  • Individuals in all countries turn to friends first when searching for a new job as opposed to family, job websites, former employers, or even social media.
  • A majority of people across the globe—with the exception of the Netherlands—want to work for a large and well-established company. 38 percent of Americans top off this list, while a few other countries including France find startups more appealing.
  • Americans surveyed in 2016 estimated their personal rate of productivity to be 11 percent higher than the average American employee, while Greeks and Italians placed themselves at the lowest level of productivity. Germans, on the other hand, ranked themselves at the highest productivity levels.
  • The French placed a higher emphasis on formal dress codes at work than other countries, while the Greeks and Swedish were on the opposite end of that spectrum.
  • Polish respondents reported the lowest levels of job satisfaction.

Compensation Practices

PayScale’s recent study found several interesting stats about compensation best practices across a wide range of industries and employees:

  • 61 percent of the companies performing the best were willing to pay higher than the 50th percentile for more competitive jobs.
  • 70 percent of technology industry employers cared more about retention than other aspects of employment.
  • 82 percent of employees were accepting of below-market pay, provided their employer offered transparency regarding the reasons.
  • 40 percent of employers stated that they encourage open communication regarding compensation.
  • Over half of average companies refused to change compensation strategies in favor of millennials’ demands.

Employee Purpose

Cornerstone found some information about how people are pursuing employee purpose:

  • 89 percent of American respondents stated that they would be willing to pursue a lateral career move without any financial incentive.
  • 38 percent of employees stick with their current company because of an adequate work-life balance and satisfaction with their career.
  • 77 percent of employees are open to relocating to be closer to their jobs, 86 of whom are millennials.
  • 42 percent of employees expect to switch careers three or more times within their lifetimes.

Keeping these and other statistics in mind as an HR professional, you’ll likely find that you can modify your strategies accordingly, accommodating for an ever-changing employment landscape.

Like every other industry, HR will never stay the same, so it’s important to keep up to date on the latest practices and more if you want to recruit and retain happy and hardworking employees.

Categories: Career

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