In a global climate where hiring remains incredibly challenging, employers are becoming more diligent in ensuring that each recruitment decision is the right one. To equip recruiting teams for the future and beyond, LinkedIn has compiled its 2024 Future of Recruiting report. Drawing insights from top talent leaders, extensive surveys, and vast data analysis, the report outlines six predictions for the recruitment landscape and offers guidance on attracting, hiring, and retaining top talent. This week, we’ll explore another important recruiting trend in 2024: a focus on Quality of Hire.
Recruitment experts identify sourcing high-caliber candidates as the top priority for 2024. The importance of making quality hires and having the right team in place is especially important for smaller companies and/or when growth prospects are limited.
The significance of measuring the quality of hires is increasingly recognized, albeit challenging to quantify. To effectively evaluate this, companies must first define what constitutes a "quality hire" within their unique organizational context and then select the criteria for assessment. Key factors include job performance, team compatibility, cultural alignment, productivity, and retention rates. There is also anticipation regarding the role of Generation AI in offering insights into the success and potential trajectory of hires.
Traditional metrics such as time-to-fill and acceptance rates are giving way to a deeper inquiry into the quality of hires. There is a growing interest in leveraging data to provide a comprehensive understanding of recruitment outcomes -- the adage of “you can’t manage what you can’t measure” comes into play here.
Furthermore, the concept of a quality hire is evolving. Employers are placing greater emphasis on soft skills, essential for effective workplace interactions. In LinkedIn's top ten skills list, six out of ten are soft skills like communication, leadership, and analytical abilities. Additionally, companies are prioritizing candidates whose values align with their organizational ethos. Employees who exhibit growth through feedback, and are adaptable to change are in great demand, and those who embody and promote company values make excellent ambassadors, boosting the company brand.