After the executive recruitment process is over, what lessons do you take away? One of the problems in recruiting, according to Dr. John Sullivan, is that businesses don't put as much effort into making informed changes as they could. This goes back to the way they measure successful or unsuccessful recruitment: taking stock of a new hire's performance will help overseers measure how the recruitment process is working.
In an article for ERE.net, Sullivan highlighted a lack of data management as one of many issues currently plaguing the recruitment industry. He explains that recruiters routinely ignore several of the most important aspects of proper review and improvement. Not only are they not adequately measuring the "failure potential" of a certain candidate, they also don't measure the effectiveness of the hiring process once a person comes aboard.
This is a missed opportunity, Dr. Sullivan says, because measuring data leads to a quantifiable dollar amount of ROI, which in turn leads to more accurate planning to maximize value.
"Around 30 percent of firms actually measure their quality of hire but surprisingly almost no one (outside of Google) uses that new hire performance data in order to better identify the factors that predict new hire success on the job," Dr. Sullivan writes.
While analytics is just one tool that can make a recruitment period more productive, Sullivan's comments point to the broader need for recruiters who are informed and committed to making productive changes to make their practices more efficient. ROI doesn't automatically guarantee that a certain recruiting process is better or worse, but it does let companies decide how they are performing and what they need to focus on, based on results.
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