Recent reports indicate that while unemployment numbers remain high, the number of job applications has stagnated, creating a gap in the workforce. CredentialCheck, a nationwide employee background screening company, investigated with its own survey.
In May 2021, Wall Street Journal reported that March job openings rose 34% compared with data from January 2020, pre-pandemic conditions in the United States. The data came from iCIMS Inc., a cloud-based recruiting platform that serves thousands of large companies, including Target, CVS, and Ford Motors. Despite this rise in open positions, iCIMS data indicated that March job applications were down 13% compared to the pre-pandemic level. Likewise, the Federal Reserve reported in April a similar shortage across numerous industries.
These reports, among other data, sparked a nationwide conversation about the reasons behind the high unemployment rate. CredentialCheck sought real-time feedback from its own clients with a survey in May 2021 to determine how accurate these reports were for the companies they serve.
Data from their survey respondents indicated a 41% increase in job openings. However, the CredentialCheck clients were seeing an applicant reduction of 32%. In short, the respondents had 1.7 applicants for each job opening in January 2020, but in May 2021, they only had 0.82 applicants per opening. This decrease resulted in a 52% decline compared to January 2020.
What can companies do to recruit talent in this new hiring environment? CredentialCheck recommends being patient and not settling for the first body to come along. Take additional steps to attract experienced individuals if necessary, such as offering work-from-home flexibility or increased wages. Finally, don’t neglect to do a thorough job applicant background check before making a job offer.
Call CredentialCheck at (888) 689-2000 with any questions about this survey. Information about their pre-employment screening services and other solutions is available on their website. Their company is based in Troy, MI, and serves clients from coast to coast.
Company Name: CredentialCheck
Contact Person: Media Relations
Email: Send Email
Phone: (888) 689-2000
Address:575 E Big Beaver Rd, Ste 300
Country: United States