In our industry, we’re always wondering: What does the future hold for recruitment? In our December 2015 DCR TrendLine article, we looked to LinkedIn to provide us with the 2016 global recruiting trends. The report was based on a survey of 4,000 talent acquisition decision-makers, and revealed some of the key focuses for recruiters in 2016.
Now that we’re in June, let’s take a look at the half-time report and see how we’re faring. You’ll see the original text, slightly modified for clarity, along with our comments of whether it was a trend or a fad.
Quality of hire is considered to be the most important measure of performance for a talent acquisition team, even more valuable than time-to-fill or hiring manager satisfaction. Many organizations are measuring quality of hire with employee turnover, while others measure quality of hire through their new hire performance evaluation.
However, talent leaders lack confidence in measuring quality, with only 33% of survey respondents believing that their methodologies are strong. The gap between hiring volume and budget continued to be a struggle for talent acquisition companies in 2015, and LinkedIn’s survey indicates that this isn’t changing in 2016. This imbalance is impeding an organization’s efforts to overcome obstacles, such as finding candidates in high demand talent pools, or transforming talent strategies.
Trend! We’re finding that quality of hire was and continues to be the number-one benchmark in the industries we serve. The more our VMS can help our customers evaluate candidates and do the processes that allow them to concentrate on their core competencies, the better candidate selection they have.
The gap between hiring volume and budget continued to be a struggle for talent acquisition organizations in 2015, and LinkedIn’s survey indicates that this isn’t changing in 2016. This imbalance is impeding an organization’s efforts to overcome obstacles, such as finding candidates in high demand talent pools, or transforming talent strategies.
Overall, social professional networks are considered to be the number-one source of quality hires, but employee referrals are starting to emerge as a long-lasting trend. More leaders are starting to consider employee referrals to be an essential trend in recruiting.
Trend! LinkedIn is continuing to develop as a source of quality hires and employee referrals are gaining ground as well. Together these forces are helping to close the gap between hiring volume and budget.
In 2014, talent brand slightly decreased in importance, but in 2015 it re-emerged as a top priority. Spending on employer brand has increased over the past two years, and organizations are creating proactive strategies and relying on more outbound channels, such as online professional networks and social media.
As organizations invest more in their talent brand, talent acquisition teams are partnering with cross-functional partners, especially marketing departments. LinkedIn considers a strong relationship with marketing to be a key to talent brand excellence.
Trend! Talent brand is remaining on the forefront as an important priority for employers. Again, relying on strong professional social networks is a plus for employers for branding, but also for employees and contingent workers – also for branding! And partnering up with your marketing department will only serve to solidify your brand with potential workers – whether permanent or contingent.
While employee retention is high on the priority list of talent acquisition leaders, internal hiring is significantly lower – even though it helps to address retention. Of the survey respondents, less than one-third say that internal hiring is central to their strategy. Currently, most internal hiring is occurring on a case-by-case basis with very few defined programs in place.
Fad! While we would love to see internal hiring become more of a trend, it’s currently still a fad and not something that many corporations invest heavily in. Cross-promotions or climbing the corporate ladder is still often left up to the employee to vet out positions and go for them.
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