Recently, LinkedIn released their 2015 Global Recruiting Trends report to give employers a look at industry changes dating back to 2011. There were three findings that stuck out to me as important to the future of recruiting.
The first overall finding indicates the source in which companies find their quality hires has shifted over the years. For example, in 2011, the top source for quality hires reported was employee referral programs, and in 2014, the top source for finding key quality hires reported was internet job boards (e.g., Monster and Indeed).
The second overall finding presented is the importance of social networks for promoting a company’s brand and offerings; roughly 75% of employers agreed that they now have a proactive strategy when it comes to promoting their brand.
The last of the 3 overall takeaways from the report is how important quality of hire is to organizations. Quality of hire was actually identified as the single most important metric that companies use in order to track an organization’s recruiting performance, over other factors such as time to fill and hiring manager satisfaction. Additionally, LinkedIn reported that new hire performance evaluation, retention, and hiring manager satisfaction are the most commonly used metrics for measuring quality of hire.
This takeaway really stood out to me as it speaks to the importance of providing companies with accurate and consistent hiring tools to aide in identifying top talent. Assessments consistently predict job performance and do so more accurately than other steps in a hiring process, such as a hiring manager interview. Thus, in terms of quality of hire, utilizing performance assessments in the selection process can bring much value to organizations in accurately identifying top talent. This finding also speaks to the importance and trust recruiters and others within talent acquisition must place on the tools and methods they use to identify high-quality candidates.
The information provided on the most commonly used recruiting metrics speaks to the importance of performing criterion-related validation studies, especially where assessments are in use. Factors such as employee performance and retention can be looked at in a validation study to provide companies with an accurate depiction of how their hiring tools are working.
One way to perform a criterion-related validation study is to compare an employee’s performance on an assessment to their performance on the job. The main question here is are the assessment results in line with the employee’s performance on the job. By performing criterion-related validation studies and looking at assessment performance and performance on the job, companies can ensure that they are getting an accurate and legally defensible measurement for predicting job performance and thus, quality of hire.
Overall, the findings reported in LinkedIn’s 2015 Global Recruiting Trends report promote the importance of using assessments in your hiring process. Quality of hire was found to be of utmost importance to companies, and assessments are designed to deliver just that by identifying quality candidates in an efficient and legally defensible manner. Findings reported can also be linked to the importance of performing a criterion-related validation studies, as factors commonly looked at in validation studies relate to the most commonly used recruiting metrics reported to identify quality such as retention and employee performance. Using predictive assessments can be extremely helpful to companies in terms of identifying quality candidates and improving an organization’s recruiting performance.