Time and money not keys to assessing recruiting success, says Futurestep
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.