The HR profession is currently going through one of the most disruptive periods in the last few years. On the one hand, trends like the Great Resignation, quiet quitting, and quiet firing affect the industry. On the other, the industry is facing a severe talent shortage. And then, there are several positive and negative forces, such as the pandemic, inflation, and economic uncertainties driving recruitment decisions. The job of HR and recruitment leaders has undoubtedly become more complex and challenging while expectations from them continue to mount.
So, how are HR and recruitment leaders responding to the rollercoaster ride? And what key trends are affecting recruitment this year? Findem and KarmaCheck recently conducted a study to find the answers. Here are a few key insights.
Recruitment Leaders Are Using Dashboards
Today’s leaders from different functions rely more on data and analytics for decision-making. It is the same with recruitment leaders. The survey showed that all respondents used at least some recruitment metrics. So, how are the metrics tracked and measured, and were the goals met?
About 56% use dashboards within specialized recruitment or HR tech software, while 39% use external dashboards, such as Tableau. Further, while 95% of respondents use some form of technology to track hiring and recruitment metrics, only 39% use specialized software.
When it comes to the metrics against which leaders are setting goals, controlling costs associated with hiring is the biggest concern, with the average cost per hire being the most common metric. For recruiters in the tech industry, time ranked higher than cost as a priority.
Recruitment metrics against which leaders are most frequently setting goals
Which goals did employers and recruitment leaders not meet last year? About 90% of respondents did not meet at least one goal last year. About 51% said that the average costs of hiring are too high, while 47% said the same about the time to fill.
There are several barriers to meeting their goals, such as the candidate pool not being the right fit and staffing shortages. About 56% blamed technology or process challenges, such as a mismatch between technology and needs or inefficient hiring processes, as the main reason for not achieving goals.
Many Leaders Are Measuring Diversity Goals
A big change in HR and recruiting is the emphasis on diversity, with 90% of employers having at least one goal. And despite the challenges of tracking diversity through the hiring process, it is a top priority for many leaders. So, for which diversity categories have employers set goals concerning recruiting?
The age of hires was the most common characteristic to track (60%). About 53% also focus on gender, and 51% focus on race-related diversity. About 41% pay attention to people with disabilities, while 26% pay attention to people with criminal records.