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The Ultimate Hiring Benchmark Report

An Analysis of the On-Demand Industry and Uncovering their Strategies

The Age of the Hourly Worker

Today’s employment landscape has undergone a complete transformation. Workplace changes are accelerating, influencing the way companies do business and suggesting that workforce stability will become an employer’s competitive edge in the years to come. This sounds promising, as the US unemployment rate has reached an historic low at 3.7% and reports estimate that:

CEOs will increase their headcount within the next twelve months

52%

Workers will be hourly employees

60%

Workers will be millenials by 2025

57%

For companies with a large service workforce, however, these factors are causing a seismic shift in the way they approach recruiting. Companies are now faced with new challenges around attracting and retaining quality hires, shedding light on their inefficient recruitment process and broken hiring systems.

The New Service Economy

The ways in which hourly employees find work has fundamentally changes. The prevalence of e-commerce giants, new technologies and a heightened attachment to mobile devices has created a “connected customer,” who demands same-day deliveries, 24/7 customer services, and all-in-one experiences. These expectations are flowing over into the hiring process, with workers demanding this same personalized and flexible experience with their potential employers. As a result, previously siloed industries are now part of one, global ecosystem.

At Fountain, we call this global, service-based ecosystem the New Service Economy. Employers are competing for the same limited talent pool (against more companies than they might realize), making hiring much more difficult. That’s because traditional hiring practices have not adapted to the dynamic needs of this new workforce, who want to onboard quickly, so they can start earning wages.

TIME-TO-HIRE

How long does it take qualified candidates to get to the “hired” stage?

This metric is a standard for all recruiters. Everyone has slight variations on the nuances and what is considered the “hired” stage. For our purposes, we measure this as the number of days from when an applicant is created in the Fountain dashboard to when they are hired within the system. Applicants are entered into the system automatically once they apply for a job since the job board posts direct the applicant straight into the Fountain applicant experience.

By tracking time-to-hire, you can answer questions like:
1

How long does it take me to take a qualified person through the hiring process?

2

Where are the bottlenecks in my hiring process?

Time-to-Hire Industry Comparisons

Number of Days

Fountain's Number of Days

40
30
20
10
50
On-Demand
Retail
Food Services
Transportation & Warehousing
Applicants per opening

How many people are applying to a role?

This is another standard metric for recruiters. For our report, we took the average number of candidates per job opening within our system. We chose this metric because it gauges how successful your job post and recruiting efforts are. If, for example, you receive a high number of applicants but are not getting enough qualified hires, you may need to make adjustments to your job description and include more information that screens out unqualified people. This will allow you to fill your hiring funnel with candidates of quality rather than quantity.  

This metric helps you answer questions like:
1

Do I have enough applicants to meet hiring goals?

2

Does the applicant pool consist of enough qualified applicants?

Industry Comparison

Applicants Per Opening

Fountain’s Applicants Per Opening

2000
1500
1000
500
On-Demand
Retail
Quick Service Restaurants

Are you ready?

Download your full 22 page benchmark report and level up your hiring now.
Get these critical hiring insights:
Cohesive look at the industry leaders in the on-demand industry
Unique metrics to businesses that rely on hiring hourly workers
What tools to incorporate to make your hiring more efficient
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