iCIMS’ Hiring Trends Research Suggests the U.S. Labor Market Will Continue to Tighten in 2016

Leading SaaS provider’s Quarterly U.S. Hiring Trends report provides the latest insights regarding talent supply and demand across the nation

MATAWAN — iCIMS, Inc., a leading provider of Software-as-a-Service (SaaS) talent acquisition solutions, today released its quarterly U.S. Hiring Trends report, which analyzes the talent supply-to-demand ratio and the average number of days it takes U.S. employers to fill open positions across various industries, geographical locations, and company sizes.

iCIMS, Inc., a leading provider of Software-as-a-Service (SaaS) talent acquisition software solutions for growing businesses. (PRNewsFoto/iCIMS, Inc.)
iCIMS’ U.S. Hiring Trends report provides actionable insights for employers and job seekers, and offers key data points on challenges within the talent acquisition landscape. The latest report presents quarterly trends over the course of 2015 pulled from iCIMS’ customer base of more than 3,200 contracted customers. iCIMS’ chief economist, Josh Wright, collaborated with third-party data analyst firm Hanover Research, to arrive at the data conclusions reflected within the report.

Key findings in the report include:

Talent Supply/Demand Ratio: Number of applicants per job filled

The aggregate average amount of job applicants per open job declined from 24 in Q1 of 2015 to 21 in Q4 of 2015, consistent with the tighter labor market indicated by data from the U.S. Bureau of Labor Statistics.
The information industry (which includes media and telecommunications companies) had the highest average number of applicants per job filled in each quarter of 2015, followed by the public administration industry.
Among geographic regions, the Northeast had the highest number of applicants per job filled in 2015.
Medium-sized companies with 100-999 employees received more applicants per job than small or large companies throughout 2015.

Time to Fill

Employers spent 44 days, on average, to fill a job in 2015, and the timeline extended slightly over the course of the year.
The leisure and hospitality and financial activities industries had the fastest turnaround time between job posted and job, with 41 days on average in 2015.
Larger U.S. businesses took less time, on average, to fill open jobs than smaller companies in 2015.
Among geographic regions, the West and South had the shortest average time to fill.
“Our comprehensive data from 2015, consistent with figures from the Labor Department’s employment report, shows other aspects of tightening in the labor market, such as a noted decline in applicants per new hire,” said Josh Wright, chief economist for iCIMS. “More job openings across the U.S. means stiffer competition among employers. Candidates now find themselves with more options and, in some cases, more than one offer. For employers, the importance of fine-tuning their recruiting practices is only growing.”

iCIMS releases the U.S. Hiring Trends report on a quarterly basis. The next version of the quarterly report will be released in early June 2016. Previous and future reports can be accessed through its thought leadership site, the iCIMS Hire Expectations Institute™.

“The Hiring Trends report serves as a valuable resource for both parties of talent acquisition – job seekers and employers – to help bridge the gap between them. Its analysis of trends in job creation and hiring practices helps job seekers with their professional development and career goals, while helping hiring professionals stay well-informed about the latest demand trends in the job market,” Wright added.

To access the latest report which recaps hiring trends and industry demand in 2015, please visit iCIMS Hire Expectations Institute™ .

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