Wed, 25 April 2012

Cost of hire and time to hire are only the fourth and sixth priorities when assessing the success of a recruitment process, according to a global survey from recruitment process outsourcing (RPO) firm Futurestep.

The firm surveyed nearly 1,600 HR professionals across five continents, finding that the performance of the individual in 46% was of cases the first assessment criterion, and the second most important criterion in 21% of cases.

Retention and the satisfaction of the line manager were the second and third most frequently used criteria, while cost of hire was only the first criterion in 12% of cases, and second in 15% of cases. Time to hire was top priority in 6% of cases, and second priority in 12% of times. ‘Promotability’ was the fifth highest priority.

In total, 62% of respondents have a formalised measurement process in place for assessing the impact of hires. However, 35% of respondents added that they admit that their organizations measure the impact of a new hire before they expect recruits to have made their greatest impact on the business.

Only 15% reported that measurement of a recruit’s impact took place after one to three years with the organisation.

HR professionals in France (22%) and those in local government (18%) were the least likely to measure impact within the first six months, something which was the case in more than 53% of Latin American firms.