Chapel Hill, N.C. -- HR executives are increasingly turning to process excellence initiatives to target areas for performance improvement in their organizations. Among core processes, the hiring cycle is a key improvement opportunity for most organizations, particularly those with
complex and large-volume recruiting demands. Staffing organizations must manage the recruitment and selection of top talent while contending with a large number of requisitions, resource constraints and federal regulations, and meet quality and efficiency goals as well. Recent research by Best Practices, LLC reveals that some organizations have achieved superior performance in the hiring function. A key example: organizations handling more than 1,500 open requisitions per year average a time-to-start of 71 days, but the leading companies report a time-to-start metric of 40 days.
To understand the variation associated with such a key process metric, as well as other critical performance measures such as time-to-fill a position and the average cost-to-fill a position, Best Practices, LLC undertook a unique research initiative: "Achieving Superior Staffing Performance."
Findings from the study include:
- One benchmarking company increases the size of its talent pool by
identifying and tracking its competitors' talented employees. These
candidates are added to its passive talent pool, and outside sourcing
firms contact them to discuss potential job opportunities within the
benchmarked company. This active courting of talented passive
candidates helps the benchmark company to achieve a high quality-of-
hire performance metric, with approximately 90% of hires being on or
above internal targets.
- Another benchmark partner has automated its application system to speed
the time to hire process and minimize paper. Candidates apply directly
online, and recruiters receive electronic applications immediately,
enabling screening and interviewing to occur earlier. This practice
contributes to the benchmark company's time-to-start (from requisition
posting to first day on the job) of 52 days.
- Yet another partner was able to shorten its time-to-fill measurement to
65 days by aligning recruiters directly to business units and
assigning all recruiting responsibilities to them rather than
segmenting by discipline.