Our new Infographic reveals recruiting performance statistics based on a 2018 report by Zogby Analytics (commissioned by Jobvite) in which over 850 hiring professionals were surveyed.
What are the most important success metrics for recruiters, or the biggest bottlenecks in the recruitment processes? How about the biggest challenges they face, or the top investments recruiters believe are essential for growing an employer brand?
Top success metrics
31% of the recruiters surveyed argued that the quality of hire is the most important metric for success to be achieved, while retention rate has a 23% rate, time-to-hire – 21% and cost per hire – 7%.
The quality of hire (candidates are a great match for the role they are recommended for) remains the most important, and that is why at SourceMatch, we have the right processes and work with the most effective solution for every situation to make sure we deliver an added value to your company, which is greater than the cost of recruiting.
Biggest bottleneck to recruiting
The relationship between recruiters and hiring managers can still be improved, as recruiters (50%) admit that working with hiring managers – waiting for them to move candidates through the hiring process or (44%) to review resumes, is the biggest obstacle when it comes to a smooth and sailing recruiting process. Candidates don’t know what’s going on and will many times consider responsiveness through the hiring process as an indication of how they will be treated as employees.
Biggest challenges in hiring
Again, the most important factor in hiring is the quality of new hires. And the biggest challenges recruiters face is the lack of skilled and candidates, voted by 67% of surveyed recruiters, followed by 52% that claim it’s the intense competition, and 36% believe it’s the lack of budget. It’s crucial to understand the market before assuming that the requirements of positions are realistic. When talent is scarce, either you pay the price for that or factor that in and adjust requirements and build in the rest of the requirements into training and development.
Top investments for growing an employer brand
What are the areas that you need to refocus your attention on in order to grow your employer brand? 47% of votes highlighted Social Media, followed by Company Career Website and only 12% – Advertising. When it comes to Social Media, the most-used channel for recruitment efforts is LinkedIn when trying to reach candidates, with 77%, followed by Facebook – with 63%.
Eventually, no one single measure will have a dramatic immediate effect. However, if you choose a few of them and consistently focus on doing what your brand says you do, then the market will see you walk the talk!
What are the most important success metrics for you? Let us know your thoughts by leaving a comment below.