The number of bad hiring decisions are on the rise as 90% of employers admit that retention of new employees is a problem for their business. If the number of early departures in your organisation is steadily increasing, here's why:-
A painfully long hiring process : The top 10% of candidates have disappeared from the market by day 10 but the average time to hire in the UK is approximately 28 days. The candidates remaining in your pipeline from day 11 are unlikely to be the most qualified for your job but the majority of companies will attempt to make a ‘good fit’ from the limited choice available. A reduction in time to hire will expand your talent pool and enable HR to select better quality candidates. Recruitment analytics will tell you just how long your hiring process is taking and help you to assess the areas you need to improve. Eliminate lengthy application processes, screen candidates quickly and allow talent visiting your careers site to complete a simple registration of interest.
‘Same old, same old’ talent pool : In the words of Albert Einstein, ‘insanity is doing the same thing over and over again and expecting different results’. If you are consistently recruiting from the same talent pool and experiencing equally consistent levels of unsuccessful hires, nothing is going to change until your hiring process does. 92,000 new jobs were created in the three months to January 2017 and a growing number of SMEs report a shortage of applicants for their jobs. Invest in recruitment software and introduce the use of anonymised CVs into your candidate screening. That’s a start.
A LinkedIn review is your idea of a background check : You decide to waive background checks to save time, choosing to verify your candidate’s career history with a quick glance through their LinkedIn profile. The problem is you also overlooked the gaps in their CV and failed to confirm whether they resigned or were fired from their previous three jobs. Employers are becoming increasingly accountable for the actions of their employees as supermarket chain Morrison’s learned last year. Automate background checks through your recruitment software to expedite the process and follow up on every ‘grey area’ or concern. It just might prevent yet another bad hire.
Hiring decisions are based on the interview : Nearly three quarters of hiring decisions are based on the interview and the majority of those hires are not working out. Algorithms in your recruitment software have been proven to make better hiring decisions than hiring managers themselves, many of whom either have no training or are poor interviewers. Be aware of your own unconscious bias in your decision making and support your final candidate selection with data driven recruitment practices. HR analytics enables you to make effective hiring decisions by identifying the most qualified candidate for your vacancy based on job specific criteria and historical data, rather than ‘gut feeling’.
Manual recruitment systems : Your recent run of ‘bad luck’ in hiring won’t improve while you cling to outdated processes and paper based recruitment systems. Without technology, it’s unlikely that you can even accurately assess the retention levels of your new employees. Support your talent acquisition with HR technology which enables HR to focus on promoting a positive employer brand and engage with the talent in your pipeline in those crucial first 10 days.
Improve your hiring success with world class recruitment software to help you hire better people faster. Contact Advorto today.
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 Source : https://business.linkedin.com/talent-solutions/blog/talent-analytics/2017/7-metrics-that-the-most-data-savvy-recruiting-teams-are-tracking