LinkedIn recently carried out their annual recruitment survey and the results make for some very interesting reading. The report has uncovered current worldwide recruiting trends as well as upcoming challenges and opportunities predicted for 2016.
The results have revealed that talent managers continue to value quality of hire as the most important metric to track performance. The way that the majority of companies are measuring this is through employee turnover and it’s likely that this is the reason why employee retention has emerged as a top priority over the next year.
How else are companies measuring their quality of hire however? According to the survey, 50% of businesses are doing this through new hire performance evaluations and 43% are doing so by measuring hiring manager satisfaction.
Despite this however, talent leaders admit that they don’t feel that they’re measuring the quality of their hires effectively. In fact, only 33% are confident that their methodologies are strong and only a tiny 5% feel they are ‘best in class’.
When it comes to the challenges that businesses face whilst trying to recruit top talent, it’s clear that the gap between hiring volume and budget remains a continuous struggle. Additionally to this, 46% of hiring managers say that they find it difficult to find candidates in high demand talent pools and 39% struggle with the fierce competition from other companies who are also recruiting.
In order to attract high quality candidates, employer brand has re-emerged as a top priority after a dip last year. The amount of money that companies are throwing into this has significantly increased over the past two years and as a result, more proactive strategies are being created such as using more outbound channels including professional networks and social media.
When questioned about how companies value employer brand, 55% said they have a proactive strategy, 59% said they are investing more into this compared to last year and 62% said it’s the top priority for their organisation. In terms of how businesses are building this, 47% say they are doing so through social media platforms, 61% through online professional networks such as LinkedIn and 68% through their company website.
If you need help with your recruitment strategy for 2016, please feel free to contact Choralis Consulting and we will be more than happy to help.