Talent Management - December 2008 - (Page 52)

Figure 4: Importance of Metrics By Role 49% 35% 34% 24% 34% 37% 34% 48% 33% 33% Quality of hire Quality of candidate Overall hiring manager satisfaction HR New employee retention Time to fill / time to hire Non-HR Source: Aberdeen Group, July 2008 Figure 5: Calculation of Quality of Hire 81% 65% 51% 69% 56% 39% 52% 44% 38% 43% 37% 29% How quickly the new hire performs on the job productively Best in class Retention rate of top performers Candidate’s first performance review rating Character/ personal values Average Laggard Source: Aberdeen Group, July 2008 the corporate Web to showcase the company’s culture and opportunities. Key Differentiator: Collaboration Between Recruiters and Hiring Managers Collaboration between recruiters and hiring managers is critical to ensure they get the right candidates within an agreed-to time frame. This collaboration is in place at 89 percent of best-in-class organizations, resulting in a mutual understanding of expectations around the process, skills, attributes and attitudes in a desired candidate. The importance of this collaboration is represented in Figure 4. Aberdeen’s research revealed a signiﬁcant disconnect between human resources professionals and the hiring managers they serve. Non-HR managers are more likely than their HR counterparts to rank quality of hire as a critical success metric for talent acquisition. The same data also shows HR professionals are more likely than non-HR managers to rank time to hire as a critical success metric. While HR and non-HR managers place relatively equal weight on the importance of overall hiring manager satisfaction, the difference in priority they place on December 2008 quality of hire, quality of candidate and time to ﬁll suggests a lack of understanding on what it takes to satisfy a hiring manager. The importance of this collaboration is more pronounced when considering that organizations plan to increase hiring managers’ involvement in the recruitment process. For example, 48 percent of best-in-class organizations get line managers involved in candidate follow-up calls, but some 75 percent plan to do so within the next year. Only 32 percent of best-in-class organizations train hiring managers on passive recruiting, but an additional 41 percent plan to do so during the next 12 months. Key Differentiator: Measuring and Validating Quality of Hire Seventy-four percent of best-in-class organizations said they have an “understanding of which applicant sources provide the best quality job candidates,” compared to only 52 percent of laggard organizations. When asked for the top four indicators their organizations uses to determine quality of hire, best-in-class organizations’ responses focused on two areas: how quickly new employees got up to a desired level of competence and how 52 talent management magazine www.talentmgt.com http://www.talentmgt.com

Table of Contents Feed for the Digital Edition of Talent Management - December 2008

Talent Management - December 2008 Editor's Letter Contents Human Performance Leading Edge Foundations Recruitment & Retention Assessment & Evaluation Compensation & Benefits Performance Management Learning & Development Succession Planning Insight Dashboard Application Advertiser's Index Editorial Resources Full Potential

Talent Management - December 2008

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