The ClearInsights Max Recruiting Benchmarks Prebuilt Liveboard shows how your labor supply and demand compare to your industry and the U.S. Market by analyzing over 90 million data points. This liveboard helps you understand hiring trends, identify gaps, and make informed workforce decisions. This article explains what each section includes and how to interpret the data.
In this article:
Key Information
Recruiting Benchmark Overview
Section 1: Compare Your Labor Supply & Demand to the Industry
Section 2: Compare Your Labor Supply & Demand to the U.S. Market
Section 3: Your Labor Supply & Demand
Section 4: Your Labor Demand Relative to the Industry and U.S. Market
Data & Calculations
F.A.Q.
Additional Resources
Key Information
The industries listed in this liveboard are based on the North American Industry Classification System (NAICS). The data model is normalized to effectively compare your organization to a selected industry or the U.S. Labor Market.
You can adjust the industry filter to compare against a different industry at any time. The NAICS code (first two digits) appears next to each industry name in the filter menu.
North American Industry Classification System (NAICS)
The industry grouping is based on the NAICS industry classification system. This allows for a general grouping of related industries (instead of the full 600+ granular industries supported by NAICS).
To learn more about NAICS, explore:
- Economic Census: NAICS Codes & Understanding Industry Classification Systems
- NAICS Identification Tools
Important
The Recruiting Benchmark Prebuilt liveboard does not support custom fields and cannot be duplicated.
Recruiting Benchmark Overview
The liveboard includes four sections.
- Sections 1-2 compare your labor supply and demand to industry and U.S. market benchmarks.
- Section 3 shows your raw labor supply and demand data.
- Section 4 compares your relative labor demand to industry and the U.S. market for a specific week.
- With most of the charts, you can toggle on/off to show either the industry and/or the U.S. Market.
Section 1: Compare Your Labor Supply & Demand to the Industry
- Snapshot Metrics: Snapshot metrics show whether your labor supply or demand is above or below your selected industry benchmark. These metrics reflect the average over the past six months to provide a clear summary view.
- Trend Line Charts: Trend charts show whether your organization has consistently trended above or below the industry benchmark over time. ClearCompany has normalized the Industry data into a flat benchmark for easy comparison.
Above the benchmark suggests strong candidate attraction, while being below suggests room to improve. If your labor supply is below the benchmark, consider strategies like optimizing job descriptions, simplifying applications, ensuring competitive compensation, enhancing sourcing, strengthening employer brand, and/or implementing robust referrals.
Above the benchmark might indicate high turnover, longer time-to-fill, or it can indicate a period of business growth. Being below the benchmark can indicate low turnover or efficient hiring practices.
This chart will show whether your organization has been trending above or below the Industry in terms of Labor Supply or Demand. In the graph below, you can see functions of being above and below.
Section 2: Compare Your Labor Supply & Demand to the U.S. Market
- Snapshot Metrics: This section mirrors Section 1 but compares your organization to the broader U.S. labor market. These metrics show whether your labor supply or demand is above or below the U.S. labor market average over the past six months.
- Trend Line Charts: Trend charts show how your labor supply and demand compare to the U.S. labor market over time. ClearCompany has normalized the U.S. Market data into a flat benchmark for easy comparison.
Above the benchmark suggests strong candidate attraction, while being below suggests room to improve. The results can prompt strategies like optimizing job descriptions, simplifying applications, ensuring competitive compensation, enhancing sourcing, strengthening employer brand, and/or implementing robust referrals.
Being above the benchmark might indicate high turnover or hiring inefficiencies that result in prolonged open requisitions, or it can indicate a period of businessgrowth; being below the benchmark can indicate low turnover or efficient hiring practices.
This chart will show the trend of you being above or below the U.S. Market in terms of Labor Supply or Demand. In the example below, you can see that labor supply is mostly below while demand is above.
Section 3: Your Labor Supply & Demand
Your Labor Supply Chart
This chart displays labor supply as a ratio, specifically, as the number of candidates relative to the number of open requisitions. Recurring patterns, such as annual peaks and troughs, may reflect seasonal hiring cycles in supply that can be anticipated in advance.
Positive means the candidate supply exceeds open requisitions. Negative means the candidate supply falls short of open requisitions, and zero means supply and demand are equal.
For each given week, your labor supply is displayed as the number of candidates divided by the number of open requisitions.
Using a ratio highlights how well candidate flow supports open hiring needs. For example, 100 candidates may seem strong. But if you have 200 open requisitions, supply does not meet demand.
Your Labor Demand Chart
This chart displays labor demand as the number of open requisitions in a given week. It includes: newly opened requisitions, previously opened requisitions that remain open. On-hold requisitions are not included.
This method reflects intent to hire during each specific week, regardless of when the requisition was originally created.
Section 4: Your Labor Demand Relative to the Industry and U.S. Market
This chart shows your labor demand alongside industry and U.S. labor market trends in a single view. It helps you:
- Identify whether demand shifts align with broader market patterns.
- Distinguish internal trends from external market influences.
- Compare specific weeks across benchmarks.
Unlike earlier charts, this view shows all trend lines together rather than normalizing them into flat benchmarks.
The previous Labor Demand charts normalized the Industry and U.S. Market data into a flat benchmark for easy comparisons. However, you may want to see how they all trend together and compare those trends in a single chart.
Data & Calculations
Labor supply is calculated by the sum of candidates / open requisitions during a specified period.
It's not just about raw numbers; it's about understanding candidate availability relative to open requisitions. For instance, having 100 candidates may seem positive, but if you have 200 open requisitions, it's not as beneficial. Using this ratio offers a more accurate assessment of true candidate supply, considering the context of open requisitions.
- 1 means there was a 1:1 ratio or equal amount of Labor Supply (i.e., number of candidates), compared to Labor Demand (number of requisitions in the open state) for that given week.
- 2 means there was a 2:1 ratio or twice the amount of Labor Supply (i.e., number of candidates), compared to Labor Demand (number of requisitions in the open state) for that given week.
- Anything below 1 means Labor Supply (i.e., number of candidates) fell short of your Labor Demand (number of requisitions in the open state) for that given week.
Your labor demand is displayed as the number of requisitions in an open state during a given week. This number includes both newly-opened requisitions and those requisitions that were opened previously and are still open.
For instance, if you opened 2 new requisitions in the week of 1/14/24 and there were 6 requisitions still open from previous weeks, the total would be 8 requisitions in the open state for the week of 1/14/24.
Labor demand is calculated this way in order to represent intent-to-hire at each given week, regardless of when a requisition was originally posted. On-Hold requisitions are not counted.
Data: Where does the benchmarking data come from?
ClearCompany uses aggregated customer data to create industry and U.S. labor market benchmarks.
ClearCompany is segmenting all of our clients based on industries and company size and then using their data to create these industry-based benchmarks.
The data is normalized to effectively compare apples-to-apples between a client and a selected industry. An industry group will only be included if ClearCompany has enough data for the benchmarking. ClearCompany must have at least 30 clients within a specific industry for that industry to have a reasonable data set.
The list of industries is based on the North American Industry Classification System (NAICS).
ClearCompany uses all of our customer data for this benchmark. Since each industry makes up a different portion of the overall US labor market, ClearCompany has weighted each industry's data according to the actual distribution within the overall US labor market. ClearoCo also factored in weightings for company size. This removes any bias in our data based upon us having a disproportionate number of organizations from some industries or company size, vs the country as a whole.
Note: The vast majority of data is for US requisitions, so ClearCompany is presenting this as the U.S. Labor Market even though some small percentage might be requisitions for hires outside the U.S.
For each given week, the number of Open requisitions is considered to be the number of requisitions that:
- Had an open status during the given week and
- Currently have an open or closed status.
On-Hold requisitions are not counted. The number of openings on a given requisition does not impact the count.
The metrics are updated on a weekly basis over the weekend.
F.A.Q.
ClearCompany will display data going back to 2019.
Candidates are counted only during the week they apply. After that week, they are no longer included in labor supply totals.
ClearCompany suggests optimizing job descriptions, simplifying applications, ensuring competitive compensation, enhancing sourcing, strengthening employer brand, and/or implementing robust referrals.
Since each industry makes up a different portion of the overall US labor market, ClearCompany has weighted each industry's data according to the actual distribution within the overall US labor market. ClearCompany has also factored in weightings for company size. This removes any bias in our data based upon us having a disproportionate number of organizations from some industries or company size, vs the country as a whole.
Recurring cyclical patterns, like annual peaks followed by troughs, can indicate seasonal changes in supply that can be anticipated in advance.
For privacy:
- ClearCompany has aggregated the data to ensure the privacy of business information. ClearCompany has aggregated the industry, each of which has at least 30 active organizations with requisition volume.
- No candidate PII or employee PII is used in the calculation of any of the measures shown in the liveboard.
Users have an option to download the liveboard as a PDF.
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