Recruiting costs have increased, efficiency has decreased and New Hire Quality measurement has climbed from 2% of participating organizations to 40%. In spite of these gains, job candidates are increasingly unhappy with recruiting and retention practices across the board.
Released today, the Staffing Performance Report breaks out 13 industry specific reports containing the latest information to help organizations compare their performance data with their competitors. Hundreds of employees and job seekers also lent their experiences, positive and negative, to provide a fuller snapshot of surviving the work-a-day world.
According to the report, 40% of organizations surveyed, measure New Hire Quality ñ a drastic improvement from seven years ago when less than 2% measured their performance. That number is expected to increase as quality remains the top priority for over half of organizations surveyed.
The average Time-to-Fill open positions for all industries examined increased from 51.5 days to 53 days. The fastest industry to fill open positions is Banking, with an average of 19 days to hire for retail positions. Slowest is the Biotech and Pharmaceutical industry, with an average of 198 days needed to complete the same task.
ìBy learning what it takes to hire the right person the first time, industries are improving their New Hire Quality and decreasing their New Hire Costs across the board,î Nick Burkholder, founder of Staffing.org said. ìBy employing good communication and a clear process, second tier organizations are now out recruiting top tier organizations in catching the best available candidates.î
ìThe job market is easing, and new opportunities are opening up particularly for top level positions, and workers seeking the opportunity for more professional development or career advancement beyond what is possible in their current position are out there looking,î he said. ìRetaining the best and the brightest is going to become increasingly more challenging, and only those organizations that choose to work hard to keep the best people they have will succeed.î
The 13 industries highlighted in the Staffing Performance Report series include:
Banking
Consulting
Government
Healthcare ñ Hospitals
Hospitality
Insurance
Manufacturing
Retail
Services ñ Non-profit
Services ñ Profit
Technology
Transportation
Recruiting Costs Up, Efficiency Down, But Candidates are Complaining
Recruiting costs have increased, efficiency has decreased and New Hire Quality measurement has climbed from 2% of participating organizations to 40%
