The New Year is upon us! It’s always an exciting time for SaaS sales recruiting because there are new patterns, new trends, and new opportunities.
In this post, I’ll share with you the latest SaaS sales recruiting stats in 2022 to guide your strategy and give you a competitive edge. Let’s jump right in.
98% of Today’s Top Companies Use Recruiting Software
While you may not surprised that a lot of companies use recruiting software to streamline the process and find quality candidates, you probably didn’t expect it was this many. But according to recent data, nearly all of today’s Fortune 500 companies now use this technology — a stat that shows how ubiquitous and effective it is.
Platforms like HireDNA take the guesswork out of SaaS sales recruiting, helping you attract elite candidates based on a wide range of core competencies, fill open positions faster, and reduce hiring mistakes. The key is using cutting-edge technology like intelligent matching that analyzes 20 key data points and science-based assessments to predict success.
And with 33% less turnover, you can build a stronger, more loyal team of salespeople that are in it for the long haul.
88% of Companies Now Use AI for Recruiting
Another form of technology that’s rapidly expanding in SaaS sales recruiting is AI. Studies have found that, globally, 88% of companies are currently using it, with a staggering 100% of Chinese companies doing so.
In terms of specific applications, some of the most common include “using chatbots to engage with candidates during recruitment (41%)” and “screening and assessing candidates during recruitment (40%).” For an in-depth list of other ways to leverage AI for recruiting, check out this resource.
86% of HR Experts Say Recruitment Has Become More Like Marketing
SaaS industry growth is a bit of a double-edged sword. While it means increased opportunities and a larger customer base, it also means more competition. And with widespread talent shortages, the competition will be even more fierce in 2022.
To keep up, 86% of HR experts say you need to approach recruitment like a marketing campaign. In other words, it’s no longer sufficient to haphazardly put out job ads and expect an overflowing pool of qualified candidates. Rather, you need to strengthen your brand and work on growing your presence across multiple mediums.
This brings me to my next point.
68% of Millennials, 54% of Gen-Xers, and 48% of Boomers Say They Evaluate a Prospective Employers’ Brand on Social Media
One of the main mediums in which candidates evaluate SaaS brands is social media. Over two-thirds of millennials do so, as well as many Gen-Xers and Boomers. And while this particular study doesn’t include Gen Z (candidates 24 and under), it’s safe to assume they use social media to check out prospective employers as well.
The takeaway here is that SaaS companies need to have a strong social media presence, and it’s key for winning the competitive battle. As for the most popular social networks, here’s how that breaks down.
The main networks to focus on in 2022 are Facebook, YouTube, Instagram, and LinkedIn.
Having a Strong Brand Image Can Reduce Your Cost-Per-Hire By as Much as 50%
Piggybacking off that, research has found having a strong brand image can dramatically lower your cost-per-hire, with some estimates being as much as 50% lower. Why?
This naturally helps you acquire higher-quality candidates and spares you a lot of recruiting expenses that SaaS brands with a poorer brand image have to deal with. If, for example, you’re an industry stand out like HubSpot, many top-tier candidates will come to you organically rather than constantly having to funnel money into recruiting.
That’s why it pays to always look for ways to strengthen your brand image and provide a great employee and candidate experience.
Including a Video in a Job Posting Increases the Application Rate By 34%
I’m always a fan of simple recruiting techniques (hacks, if you will) that have a huge impact. If you’re looking for a straightforward way to significantly increase your application rate that doesn’t require an exorbitant amount of effort, including a video in your job posting is it. In fact, studies have found this results in a whopping 34% more applications on average.
And that’s not surprising given the massive success of video platforms like YouTube. As of 2021, it had 1.86 billion users, and that number should only continue to increase into 2022 and beyond.
52% of Applicants Say a Lack of Response From Employers is Their Number One Frustration
Finally, it’s important to know the biggest sources of friction in the SaaS sales recruitment process. According to recent data, the main issue candidates have is not receiving a sufficient response from employers, with over half citing this as their main frustration.
This shows the importance of being as communicative as possible throughout recruiting and not leaving candidates hanging. While you don’t necessarily need to fill them in on every last detail, it’s nice to let candidates you’re passing on know when you’ve decided to move on and keep those who’ve been shortlisted in the loop. Doing so sets the tone for a positive candidate experience and should help improve your brand equity as we discussed earlier.
Starting 2022 Out on the Right Foot
From leveraging technology like recruiting software and AI to approaching SaaS sales recruiting like marketing to building a strong brand image to lower cost-per-hire, these stats paint a clear picture of what to expect in 2022. By making the right adjustments and focusing on core objectives, your SaaS company can start out on the right foot in the New Year.
Want to learn more about how HireDNA can optimize your sales recruiting? Get the full details and see how 92% of recommended candidates reach the top of their sales force after working with HireDNA.