There’s no way to sugar coat this: Amidst a public health pandemic and economic depression, it is a difficult time to be searching for a job.
It is very easy to get discouraged, however there are job opportunities out there, so it’s just about being persistent, highlighting your value, and being strategic with your job search. With that in mind, I wanted to share six statistics that will change the way you apply to jobs.
There is a lot of information out there, and it’s easy to get overwhelmed with the amount of data at your fingertips, but it’s important to be aware of the current market. Forbes originally gathered these statistics together, and my hope is that sharing these six statistics that will change the way you apply to jobs will help provide insight into the job search process so you can successfully navigate this challenging time and secure job that is in line with your goals!
1. Each online job posting receives an average of 250 resumes (however large companies such as Google receive up to 3,000,000 per year).
From these 250 applications, about 2% receive interviews according to Workopolis (only 0.2% at Google get hired and usually only with an internal referral).
2. 98% of Fortune 500 companies use Applicant Tracking Systems (ATS).
Applicant tracking systems are estimated to weed out 75% of applications before they reach human eyes, sometimes for irrelevant reasons like using the wrong keyword (i.e. “managed” vs. “led”). For a full explanation of how application tracking systems work, check out this article.
3. One study found that up to half of jobs are filled internally before anyone externally sees their availability.
Some of these jobs are posted online to fulfill legal requirements, however when that is the case, an external candidate has a very low chance of landing the role.
4. Referrals have been noted to have a 50% shot of getting an interview whereas for non-referrals, that rate drops to just 3%.
In fact, it’s estimated that as many as40% of hires come from the referral pool. Given that the referral pool equates to about 7% of applicants, non-referral applications are at a disadvantage.
5. Data shows that more than 60% of job seekers who were recommended by a current employee were hired.
That number increased to 91% if the referral came from a director-level employee or above.
6. Up to 70% of jobs are never posted, which suggests that the only way to learn about unposted jobs is through a connection.
“Now, more than ever, follow up is essential. With so many applications coming in, even the most qualified candidates may be overlooked. Look for people you know at the company or figure out a way to send a short note to HR or the hiring manager expressing your interest and mentioning your qualifications. Something short is fine; the goal is to ensure that someone looks at your resume rather than being lost in a sea of applications,” says career coach Alyson Garrido.
Ultimately, finding a job that is a good fit for you takes time. There are so many factors that go into finding a job such as company culture, location, salary, scope of work, timing, etc. It’s easy to feel overwhelmed or get dejected because your job search isn’t going as well as you hoped, but it’s important to keep in mind these six statistics that will change the way you apply to jobs.
Finding a job is hard for everyone! Finding a job that meets your criteria and is a good fit for you and your potential employer is difficult whether you’re searching for your first job out of college or looking to make a lateral move as an executive.
This article first appeared on WriteStylesOnline.com.