Less Than 3 of 5 View “Quality of Hire” as Most Important Recruiting Metric.
No wonder recruiters rarely get the respect they desire. According to the 2016 survey by LinkedIn Talent Solutions. only 39% of recruiting managers say “Quality of Hire” is the single Most Valuable Metric (“MVM”) used to track recruiting team performance. That's fewer than two in five recruiters!
Here’s a link to the report.
This statistic really bothers me - and should bother all thoughtful recruiters. Why are we doing what we are doing if not for the sole and overwhelming purpose of recruiting high quality people?
Some might say that the reason why fewer recruiting managers chose the Quality of Hire MVM is because it is hard to measure. I agree that some elements of quality, like beauty, are in the eye of the beholder - but surely we can agree that a salesperson who in six months develops a $5m sales pipeline and closes a $1m transaction is better than one who has a $2m pipeline with no wins?
In any event, just because measurement is hard doesn’t mean that we shouldn’t keep trying harder and harder until we get it right.
You might ask - what do the remaining 61% of recruiting managers believe is the MVM. Primarily:
- Time to fill (28%)
- Hiring manager satisfaction (21%)
Regarding “time to fill”, it seems that these recruiters never knew or have forgotten the adage “hire slow, fire fast”. It is true that Hiring Managers tend to wait until the last minute to search for a candidate whom they needed yesterday. But this poor planning / lack of foresight / miserliness should not impact the search process. Candidate due diligence now saves a lot of time and money later.
Regarding “hiring manager satisfaction”, at least this is a metric that should be correlated over the long term with “quality of hire”. On a short term basis, however, hiring manager satisfaction may simply be based on filling the position. Or getting a candidate in who looks, talks and thinks like the Hiring Manager. So satisfaction needs to be viewed with a grain of salt
In conclusion, I encourage all recruiters to think about why you are doing what you are doing. If you are a recruiter to provide quality of hires to your clients, whether internal of external, then keep doing what you are doing. If not, then I suggest that you get out of this business and find something else to do!