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Quality of Hire

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The definition of “Quality of Hire” varies from company to company and role to role.

But as Talent Acquisition leaders, we are routinely called upon to define and measure this metric for our organizations. Research from Cielo and other industry experts shows that business stakeholders value the consistent delivery of quality candidates over every other Talent Acquisition deliverable.

We know you are doing everything in your power to meet their high expectations. That is why we dove deeply into this topic to find new angles on (and clear explanations of) Quality of Hire – to give you the knowledge you need to reassure stakeholders and enhance your results.

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Quality of Hire

  1. 1. 0WE BECOME YOU™Content Property of Cielo, Inc. QUALITY OF HIRE EXPLORING THE MOST ELUSIVE METRIC The definition of “Quality of Hire” varies from company to company and role to role. But as Talent Acquisition leaders, we are routinely called upon to define and measure this metric for our organizations. Key Takeaways: • Gain a better understanding of how to define, measure and leverage Quality of Hire for improved business outcomes. • Learn the six Quality of Hire levers you must measure and adjust to ensure you are on the best path to quality for your organization.
  2. 2. 1WE BECOME YOU™ INTRODUCTIONS GREG SUMMERS Senior Vice President ANDREW MANNING Senior Vice President
  3. 3. 2WE BECOME YOU™ “DELIVERING QUALITY HIRES CONSISTENTLY” IS THE MOST IMPORTANT STRATEGIC FUNCTION OF TALENT ACQUISITION
  4. 4. 3WE BECOME YOU™ HIRING THE BEST IS YOUR MOST IMPORTANT TASK. – STEVE JOBS
  5. 5. 4WE BECOME YOU™ • Introductions • Definition of Quality of Hire • Your place on the Quality Continuum • Levers of Quality of Hire AGENDA
  6. 6. 5WE BECOME YOU™ “You can’t quantify it – it’s a gut-feel thing.” “We know it when we see it.” “There is only one way to be successful at our company.”
  7. 7. 6WE BECOME YOU™ Quality of Hire is a group of meaningful measurements, unique to each company and role, which define success in hiring and retaining the right talent to fuel the business.
  8. 8. 7WE BECOME YOU™ Quality of Hire is a group of MEANINGFUL MEASUREMENTS, unique to each company and role, which define success in hiring and retaining the right talent to fuel the business.
  9. 9. 8WE BECOME YOU™ Quality of Hire is a group of meaningful measurements, UNIQUE TO EACH COMPANY AND ROLE, which define success in hiring and retaining the right talent to fuel the business.
  10. 10. 9WE BECOME YOU™ Quality of Hire is a group of meaningful measurements, unique to each company and role, which DEFINE SUCCESS IN HIRING AND RETAINING THE RIGHT TALENT to fuel the business.
  11. 11. 10WE BECOME YOU™ Quality of Hire is a group of meaningful measurements, unique to each company and role, which define success in hiring and retaining the right talent to FUEL THE BUSINESS.
  12. 12. 11WE BECOME YOU™ YOUR PLACE ON THE QUALITY OF HIRE CONTINUUM
  13. 13. 12WE BECOME YOU™ QUALITY OF HIRE CONTINUUM Quality of Hire is a group of meaningful measurements, unique to each company and role, which define success in hiring and retaining the right talent to fuel the business. Hiring Manager Satisfaction Reduced Attrition On the Job Competency Personal Achievement Business Outcomes Most Many Some Few Rare
  14. 14. 13WE BECOME YOU™ QUALITY OF HIRE CONTINUUM BENEFITS • Highlights cases for immediate concern • Allows trends to be identified over time • Best done with a keep-in-touch program WEAKNESSES • Subjective • Easy to avoid or ignore • Only identifies surface concerns Hiring Manager Satisfaction Reduced Attrition On the Job Competency Personal Achievement Business Outcomes Most Some Many Few Rare
  15. 15. 14WE BECOME YOU™ Hiring Manager Satisfaction Reduced Attrition On the Job Competency Personal Achievement Business Outcomes Most Many Many Few Rare QUALITY OF HIRE CONTINUUM BENEFITS WEAKNESSES • Proven way to save money • Clear and objective results • Links with EVP programs • Highlights other areas requiring attention • Not a problem for all organizations • Impact of factors outside of Talent Acquisition
  16. 16. 15WE BECOME YOU™ Hiring Manager Satisfaction Reduced Attrition On the Job Competency Personal Achievement Business Outcomes Most Some Some Few Rare QUALITY OF HIRE CONTINUUM BENEFITS • Rigorous, if done well • Forces optimization of recruitment processes • Baseline for further improvements WEAKNESSES • Relies on HR processes beyond TA • Timeliness – not immediate • Assumes a sophisticated and consistent recruitment process • Requires ongoing effort
  17. 17. 16WE BECOME YOU™ QUALITY OF HIRE CONTINUUM BENEFITS • Definitive, if done well • Allows trends to emerge • Enables High Performer identification • Excellent for refining candidate attraction WEAKNESSES • Requires HR involvement over a long period of time • Requires consistent objectives • Roles too fluid for measurement Hiring Manager Satisfaction Reduced Attrition On the Job Competency Personal Achievement Business Outcomes Most Some Many Few Rare
  18. 18. 17WE BECOME YOU™ QUALITY OF HIRE CONTINUUM BENEFITS • Measures the ultimate value of recruitment • Aligned to specific business goals • Resonates with C-suite and investors WEAKNESSES • Must be function-specific • Requires a mature recruitment model • Not a perfect science Hiring Manager Satisfaction Reduced Attrition On the Job Competency Personal Achievement Business Outcomes Most Some Many Few Rare
  19. 19. 18WE BECOME YOU™ QUALITY OF HIRE LEVERS
  20. 20. 19WE BECOME YOU™ of global Talent Acquisition leaders say TALENT BRAND has a SIGNIFICANT IMPACT on their ability to hire great talent. LEVERS OF QUALITY OF HIRE EMPLOYEE VALUE PROPOSITION Source: LinkedIn’s 4th Annual Global Recruiting Trends Survey
  21. 21. 20WE BECOME YOU™ COST OF REPLACING AN EMPLOYEE • Entry-level 30-50% of annual salary • Mid-level 150% of annual salary • High-level/highly specialized 400% of annual salary LEVERS OF QUALITY OF HIRE WORKFORCE PLANNING/RETENTION Source: ERE Media
  22. 22. 21WE BECOME YOU™ of recruiters feel that hiring managers DO NOT UNDERSTAND RECRUITING. of hiring managers feel that recruiters DO NOT UNDERSTAND THE JOBS THEY ARE FILLING. LEVERS OF QUALITY OF HIRE HIRING MANAGER EXPERIENCE Source: Corporate Executive Board Recruiting Roundtable
  23. 23. 22WE BECOME YOU™ of HR Professionals believe A NEW HIRE’S DECISION TO STAY with a company long-term is made within the FIRST SIX MONTHS OF EMPLOYMENT LEVERS OF QUALITY OF HIRE EMPLOYEE ORIENTATION/ONBOARDING Source: Aberdeen Group
  24. 24. 23WE BECOME YOU™ workers in the United States will retire in the next decade and be replaced by a talent pool of just 45 million. LEVERS OF QUALITY OF HIRE TALENT MANAGEMENT 23 Source: ADP Effective Talent Management Survey MILLION
  25. 25. 24WE BECOME YOU™ Doubling Spending Per Hire results in 40% less new hire attrition and 20% faster time to fill LEVERS OF QUALITY OF HIRE COST PER HIRE Source: Bersin by Deloitte
  26. 26. 25WE BECOME YOU™ CIELO'S GUIDE TO QUALITY OF HIRE Key Takeaways: • Methods to define, measure and leverage Quality of Hire for improved business outcomes • How to use quantitative metrics to objectively define quality for key roles http://cielo.ly/ZueaV

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