Authoria, Inc., the leader in integrated talent management solutions, today announced the results of a survey that highlights a significant shift in the way businesses are evaluating the hiring process. The survey identifies an overwhelming need to augment time- and cost-based measures of recruiting effectiveness with metrics that evaluate the "quality of hire" and fit within the organization.
Sixty-seven percent of respondents to the Authoria survey cited dissatisfaction with how their organization evaluates quality of hire, and 69 percent identified it as a business imperative to improve. Among those who indicated a timeframe, 82 percent said improvement in this key measure should happen within the next 12 months.
"Traditionally, the recruiting function has been judged in terms of time-to-fill and cost-per-hire metrics," said Authoria Chairman and CEO Tod Loofbourrow. "But employers increasingly realize that it's essential to track and measure the dimension of quality, through metrics such as the satisfaction of hiring managers with new hires and the extent to which candidates in the recruiting pipeline match the requirements of a job requisition. In light of the positive impact that high-quality hires can have on bottom-line results, and the prohibitive cost of bad hires, measuring quality in the recruiting process is rightly becoming a priority for forward-thinking organizations."
"Authoria's survey confirms the sense of urgency that employers have about tracking and measuring new-hire quality," said Nick Burkholder, founder of Staffing.org and president of OnPerformance, Inc. "As the annual Staffing.org 'Recruiting Metrics and Performance Benchmark Report' has shown, the ability to track and measure quality of hire has become a dividing line, between organizations that maximize the value of recruiting and those that don't."
Respondents to the Authoria survey also identified a significant barrier to more effective hiring: 60 percent graded the collaboration between their hiring managers and recruiters as less than effective. The benefits of better collaboration between these two roles include higher-quality candidates, delivery of more "best fit" talent to the organization, and greater overall satisfaction with the recruiting process.
Loofbourrow continued, "The recognition that an organization's talent is a source of competitive advantage has led to a new understanding of the challenge of managing that talent. Instead of merely automating processes such as recruiting, performance management, and compensation, the executives who responded to this survey are clearly looking to their talent-management systems to provide granular insight into the ability of their workforce to meet business objectives, and measurements of quality that enable them to improve individual and organizational performance."
The Authoria survey, conducted in August 2006, compiled responses from 150 human-resources executives at U.S.-based corporations. Twenty-three percent of respondents were from companies with 10,000 employees or more, and 56 percent were from companies with 1,000 employees or more.
Authoria(R) is the leading provider of integrated talent management solutions, helping employers increase the productivity of their workforce in driving their business strategy forward. Authoria's products have been awarded Top Product of the Year by Human Resource Executive Magazine six times, more than any vendor in the history of HR technology. Authoria(R) 2006 includes recruiting, performance management, compensation management, succession planning, and benefit and policy communication, while providing just-in-time knowledge and coaching for managers and employees. Authoria's award-winning solutions have proven successful for more than 300 large employers, representing more than 10 million employees. Customer companies include Boeing, Pfizer, Reuters, and Unocal.
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