Startup hiring facts that matter
When you’re recruiting for talent for a startup you know that it is a different ball game than recruiting for established companies. But what exactly defines the startup hiring market?
The startup job market: the fastest growing job industry
As a startup you don’t have some of the advantages that more established companies have: an established employer brand, a high amount of inbound leads and a big recruitment team.
But you can make use of some of the advantages of being a startup if you understand how the startup hiring market works.
These are four key startup hiring statistics that matter.
The startup job market is the fastest growing job market
The startup and scaleup job market is the fastest growing job market growing with +8% yearly. Even when corona hit startup jobs kept on growing with 4%, showing an amazing resilience.
The majority of the jobs created do not come from the emerging giants, but rather from companies under 5 years old (57%).
The growing market means a growing demand for tech talent who become increasingly harder to win for your company. Technology companies are competing for tech savvy and growth minded talent. But talent is also catching up with new skills. Look at generation Z for an example (now in their 20's), who adopt new technologies faster than any other generation.
There is more data than ever
On LinkedIn only there are already 700 million users. Indeed has 100 million, GitHub 40 million, Xing 19 million, Stack Overflow 10 million, not even to mention Facebook, Dribble, Twitter and other platforms.
Recruitment professionals, also during times of Covid-19, mention the biggest priorities are building candidate pipeline (66%) and filling current requisitions (53%).
These goals can be achieved by expanding your perspective from local to global sourcing and making use of the data that’s available in a smart way. Looking further than LinkedIn only and accessing the billions of online profiles including the niche social tech platforms.
Passive candidates make up the biggest talent pool
70% of the workforce is passive talent who are not actively looking for a job, but most of them are open for relevant offers.
83% of talent acquisition professionals see passive sourcing as an important source of hire and when they focus their efforts on passive sourcing 73% of them find higher quality candidates (source).
Passive candidate sourcing provides some important advantages like higher quality of candidates, less competition for talent and more accurate matches. Read more on passive candidate sourcing.
Higher adoption rate of Intelligent recruiting tools
Most recruiters (78%) think data intelligence would make them more successful at their job.
80% indicate that recruitment automation is most useful in sourcing and screening process.
Intelligent sourcing tools have become available for the mass with increased usability and adoption rates.
An example are analytical heavy sourcing engines and extensions to source effectively.
We’ve listed some of the best recruitment tools for startups.
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Made with 💙 by Yuma from HeroHunt.ai
👉 The practical guide to startup recruitment
👉 Work related needs assessment for startup candidates
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