The numbers paint a bleak picture for employers. Of every 10 employees, four are not good hires, eight aren’t engaged in their work and six are actively seeking new employment. These are the disturbing statistics from research undertaken by recruitment company Hudson.
Current recruitment procedures are failing New Zealand businesses resulting in inadequate hires and a lack of high performers, according to a Hudson 20:20 Series white paper entitled Next Generation Recruitment: Battle Strategies for the Talent War.
The report highlights a number of strategies to help win the war for top talent. A crucial one is the development of formal criteria and tools to assess the attitudinal, motivational and cultural fit of a candidate.
While it is widely acknowledged that finding the right person for a particular team or business means more than finding someone with just the technical skills to do the job, many businesses have been slow to embrace this thinking and put it into practice.
The research, involving 1000 employers and 1300 employees, found that the top three hiring tools or measures used are reference checking, resume screening and a background interview. These techniques measure the technical aptitude of an individual – what Hudson calls the ‘know how’ category – but are not an accurate indicator of high performance in a role.
Hudson says the ‘want to’ category (motivational and cultural fit) is the best predictor or performance, yet only a miniscule proportion (7%) of hirers usually assess this area. When formal procedures are in place to do so, there is a 27% increase in the proportion of excellent performers recruited, Hudson contends.
“The best thing is how this talent rejuvenates and inspires the rest of their workforce,” says Roman Rogers, executive general manager, Hudson New Zealand. ”Success is breeding success. And that’s the power of a good hire.”
• Download a copy of the full report.
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