Talent acquisition leaders rate quality of hire as the most valuable KPI for their recruiting teams. On a fundamental level, what we all want to know is: Is my recruiting process actually selecting the right talent?
According to LinkedIn, 40% of companies worldview rank it as their top priority. A recent survey found that while speed was the metric used to measure recruiting success currently, quality was the metric most desired to be used in the future.
Quality of hire is defined as the value a new hire adds to your company. Specifically, how much a new hire contributes to your company’s long term success. Continue reading
In 1950, Alan Turing predicted that by the year 2000, computers would be able to pass as human during a text conversation.
By 2020, Gartner predicts the average person will have more conversations with chatbots than with their spouse.
How will the adoption of chatbots affect recruiting?
With today’s tighter labour market, candidate experience has become increasingly important to attract talent.
Workopolis found 43% of candidates never hear back from a company after one touchpoint. On the flip side, it’s a challenge for employers to communicate well with all their candidates. For high volume recruiting, this would require communicating with thousands of candidates, in addition to a recruiter’s normal screening functions and other duties. Continue reading
Sourcing remains a crucial talent acquisition channel: according to Lever, sourced candidates account for 24-33% of all hires, the second most common origin of hire after direct applicants.
Candidate sourcing is also one of the most effective ways to hire. On average, one in every 72 sourced candidates is hired compared to one in every 152 applicants.
The improving economy has created a candidate-driven market. In 2009, the ratio was 6.6 unemployed persons per job opening and today it’s 1.1 according to the Bureau of Labor Statistics.
LinkedIn reports 90% of people are open to learning more about new opportunities, but only 36% of candidates actively search for a new job. Continue reading
Similar to unconscious bias, adverse impact can result in fewer qualified minorities being hired for discriminatory reasons.
The difference is that adverse impact is a legal requirement for US employers with 15 or more employees (20 employees for age discrimination cases) to remain compliant with their recruiting.
Here’s everything you need to know to avoid adverse impact during your recruiting.
Disclaimer: This guide does not replace legal counsel nor your own due diligence. Continue reading
With 70% of hiring managers stating recruiting departments need to become more data-driven to improve long-term business impact, the need for accurate recruiting metrics has never been greater.
HR costs make up 28% of a company’s total operating expenses on average, according to PwC.
With so much money at stake, it’s no wonder that companies are increasingly demanding their recruiting departments to calculate metrics and demonstrate their ROI.
To provide a comprehensive overview on how to measure, optimize, and show the business value of your recruiting process, we created this guide on recruiting metrics for talent acquisition professionals.
See a quick summary of recruiting metrics in our infographic below. Continue reading
Innovations in software are driving the evolution of the talent acquisition function. HR tech influencer Josh Bersin calls it:
The new landscape of talent acquisition – Josh Bersin
Talent acquisition departments need to assess their recruiting tools and understand the new innovations out there to help them succeed in today’s candidate-driven and resource-conscious market.
Currently, the recruiting software landscape looks like this:
Advancements are happening at a rapid pace and it’s hard for anyone to keep up.
To provide an overview of the marketplace, we created this guide for recruiting and talent acquisition professionals to help you choose the right software. Continue reading
Talent rediscovery solves the age-old problem of recruiting departments spending time and money to collect hundreds, thousands, and even millions of resumes for previous positions and not being able to utilize them for open reqs.
94% of companies who use an Applicant Tracking System (ATS) say it’s improved their hiring process.
But a traditional ATS has a major limitation: it doesn’t allow you to search through your existing resume database quickly, easily, and accurately.
These are candidates you’ve already paid to source and spent time screening their resumes. But once these resumes get collected into your ATS, the majority of them are never looked at again. Continue reading
Resume screening is still the most time-consuming part of recruiting: screening resumes is estimated to take up to 23 hours for just one hire.
When a job opening receives 250 resumes on average and 75% to 88% of them are unqualified, it’s no wonder the majority of talent acquisition leaders still find the hardest part of recruitment is screening the right candidates from a large applicant pool.
Compounding the problem, a recent survey of talent acquisition leaders found that 56% will increase their hiring volume next year, but 66% of recruiting teams will either stay the same size or shrink.
In 2017, “doing more with less” will depend on a recruiter’s ability to figure out how and where to effectively automate their workflow. Continue reading
Since the ATS, recruiters have leveraged technology to make their jobs easier, faster, and better. Today, the dominant theme in HR technology is AI for recruiting.
AI for recruiting is an emerging category of HR technology designed to reduce — or even remove — time-consuming activities like manually screening resumes.
Screening resumes efficiently and time-effectively still remains the biggest challenge in talent acquisition: 52% of talent acquisition leaders say the hardest part of recruitment is identifying the right candidates from a large applicant pool.
According to a survey of talent acquisition leaders, 56% say their hiring volume will increase this year, but 66% of recruiting teams will either stay the same size or contract. Continue reading
You’ve heard it over and over again: data and people analytics are transforming the workplace. HR is becoming a data-driven function.
HR departments haven’t been ignoring this trend.
According to the Society for Human Resource Management (SHRM), HR professionals believe the most critical competency for demonstrating business acumen in the coming years will be understanding HR and organizational metrics and analytics.
The focus on big data will challenge HR leaders to build a people analytics team, bring together multi-disciplinary skills, and develop a long-range plan to “datafy” HR.
On the surface, the need to “datafy” HR is puzzling because HR has traditionally been one of the more data-heavy departments in an organization. Continue reading