As spending on talent acquisition continues to grow, it’s no surprise that quality of hire is the metric that hiring managers value most. Organisations today are spending more money than ever on recruiting, 52 percent hiring managers are unable to predict the long-term success of their new hires.
This is according to October 2016 study conducted by Research Now on behalf of Visier that surveyed 200 hiring managers at companies with annual revenues of $1 billion or more across the United States.
The hiring managers were asked about their views on the talent acquisition process at their organisations, and the results reveal significant frustration due to the lack of ability to measure long-term impact.
The study found that 71 percent of hiring managers believe to increase the quality of people they hire, HR needs to improve its recruiting process. The challenges faced by hiring managers extend to the day-to-day decisions they need to make, as well as their ability to make long-term hiring plans.
The survey also found:
In the survey, hiring managers also expressed their need to access more information about the talent acquisition process and the candidates they were considering. In particular:
“With hiring managers unable to determine the long-term success of half the candidates they hire, hiring is reduced to a coin toss. This highlights the critical need for organizations to improve the way that they measure the effectiveness of their talent acquisition,” says Dave Weisbeck, Chief Strategy Officer, Visier.
“Visier Talent Acquisition is the only solution to predict long-term business impact by delivering the most comprehensive insights across the entire recruiting lifecycle.”
Image credit: talentculture.com