Companies See Triple-Digit Increase In Relevant Candidates By Opting For Remote Jobs

Published on October 22, 2020 - By Allwork.Space - Press

• Vettery data of over 70,000 job seekers shows 38% are open to remote work. 
• However, 35% of organizations still have no plans to hire permanent remote-only employees. 
• By electing to hire for roles that are open to location-agnostic candidates, employers have been able to increase the number of top applicants by a minimum of 85%. 

New York, October 22, 2020  — Vettery, the data-driven hiring marketplace that matches highly-qualified and individually-vetted candidates with top companies, found that 24% of companies have changed their policies to allow for permanent remote employees moving forward, while 35% have no plans to hire permanent remote-only employees. Meanwhile, 38% of all active candidates are open to remote work, highlighting the significant opportunity that still exists for companies when hiring top talent.  

The findings, taken from Vettery’s hiring marketplace analytics of over 70,000 sales, tech and finance candidates and a survey of 100 of its clients, found that since March this year, companies and job seekers have rapidly embraced remote work opportunities. By electing to hire for roles that are open to location-agnostic candidates, employers have been able to increase the number of top applicants by a minimum of 85%, depending on the role. 

Additional key findings from the report include: 

• Most employers don’t know when they’ll return to the office. The vast majority (61%) of companies say that their offices are closed indefinitely, with only 16% setting a clear date for when they’ll return. 
• Companies are still staying away from the office. Only 3% of companies state that going into the office is mandatory, while 15% of companies have stated that working from the office is optional. 
• New candidates are more likely to prefer remote work opportunities. In March, 35% of new candidates joining Vettery were open to remote work, but in October, that percentage is now 51%. 
• A strong preference for location-based hiring continues. 35% of companies still have no plans to hire permanent remote-only employees, while 24% have only recently changed their policies to allow for permanent remote-only hires.  
• Remote work has improved the interview process. 22% of companies state that the shift to remote work has made the interview process “significantly easier”, with only 2% of respondents saying that remote work has made the interview process “significantly more difficult.” While evaluating skills in the remote interview process has remained largely the same, 57% of companies believe showcasing company culture has become more difficult.
• New York-based employers can increase top candidates by at least 85% if they allow remote applicants. Relevant candidates increase by 159% for front-end software engineers, 147% for full stack engineers, 159% for information security analysts, and 85% for data scientists if a company allows for remote candidates. 
• San Francisco-based employers can increase top candidates by at least 89% if they allow remote applicants. Relevant candidates increase by 193% for front-end software engineers, 153% for full stack engineers, 212% for information security analysts, and 89% for data scientists if a company is open to remote candidates. 
• Boston-based employers can increase top candidates by triple-digits if they allow for remote applicants. Relevant candidates increase by a whopping 430% for front end engineers, 329% for full stack engineers, 391% for information security analysts, and 185% for data scientists if a company is open to remote candidates. 
• Open-to-remote candidates skew higher for minority groups. Open-to-remote candidates skew 20% higher for Black and veteran talent, highlighting how remote work can usher in a more diverse pool of candidates for employers. 

“As companies become remote by default, they’ve quickly realized the benefits that location-agnostic job listings offer in terms of shortening the hiring process, and opening up a wider and more diverse talent pool across different job levels, functions and geographies. Similarly, candidates no longer need to move to a traditional tech hub to find a coveted tech role,” said Josh Brenner, CEO of Vettery. “As millions of tech workers continue to work remotely for the foreseeable future, companies and candidates can be best matched based on skills and job requirements, leading to a more efficient and transparent hiring process and a truly even playing field for career opportunities.”

To learn more about Vettery’s remote data, visit: https://www.vettery.com/reports/vettery-hiring-trends-remote-work

About Vettery

Vettery is an online hiring marketplace that uses machine learning and real-time data to match highly-qualified job seekers with top companies. Leveraging a proprietary AI algorithm, Vettery reduces time-to-hire, promotes transparency and diversity, and actively empowers all parties involved in the hiring process. We partner with over 15,000 companies from innovative startups to established Fortune 500 companies across North America, UK and Ireland to help them build best-in-class teams. Vettery is a wholly-owned subsidiary of the Adecco Group, the world’s leading HR solutions company. For more information, visit https://www.vettery.com/.