With countless recruiting-related technologies and assessment options on the market, business leaders might expect that measuring the long-term impact of talent acquisition is a practice that’s well-established and effective. However, the reality is just the opposite, a new study shows.
The 2016 hiring manager study—conducted by Research Now on behalf of Visier—surveyed 200 hiring managers at companies with annual revenues of $1 billion or more across the United States. The hiring managers were asked about their views on the talent acquisition process at their organizations.
In spite of the increased investments that organizations are making in talent acquisition, a significant proportion of hiring managers said that in order to increase the quality of people they hire, HR needs to improve the recruiting process.
The challenges faced by hiring managers extend to the day-to-day decisions they need to make as well as to their ability to make long-term hiring plans. The study also found:
- Long-term impact of recruiting is hard to measure: 61% said that it is difficult to measure the long-term impact of the overall recruiting process.
- Time to hire estimates are not accurate: 66% of hiring managers agree that when hiring for a role, it is difficult to get an accurate estimate of how long it will take to secure the hire.
- Hiring plans are not effective: 55% of hiring managers agree that hiring plans were not as effective as they could be due to the difficulty in getting accurate hiring and turnover projections.
- Recruiting programs need to be more data driven: 70% said that to improve long-term business impact, recruiting programs at their organization need to be more data-driven or fact-based.
Hiring managers also expressed their need to access more information about the talent acquisition process and the candidates they were considering. In particular:
- 95% said that they need to know why good candidates are lost during the hiring process
- 82% said that it is important to track diversity and ensure equity during the hiring process
With hiring managers unable to determine the long-term success of the candidates they hire, hiring is reduced to a coin toss.
It’s Time Talent Acquisition Moved Beyond the ATS
These results highlight the critical need to improve the way that organizations track the effectiveness of their talent acquisition process. In order to predict the long-term business impact of hiring, Talent Acquisition can no longer rely solely on the information from their applicant tracking systems (ATS).
Recruiters and hiring managers need a comprehensive collection of insights from the full employee lifecycle — obtained by connecting disparate HR systems into one solution — to answer the critical questions that will improve the impact of recruiting on the business and allow them to identify and hire quality talent faster and more effectively.
With the new year approaching, now is the time to seriously consider the necessary steps towards the datafication of Talent Acquisition.
Read More On This Topic:
- Over Half of Hiring Managers Say It’s Tough to Predict Long-Term Success of Newly Hired Talent
- What Your ATS Isn’t Telling You
- Data-Driven Talent Acquisition Blog Series