Some recent articles in the news highlight where Recruiting can go (and is going) wrong today:
Hiring externally when you could hire internally—A new study by Matthew Bidwell, professor at The Wharton School of the University of Pennsylvania, finds that external hires are 61% more likely to be laid off and 21% more likely to leave voluntarily than internally promoted employees. External hires often have a stronger experience and educational background, but those credentials are not sufficient to help them perform in a new organizational culture. By contrast, employees promoted from within have valuable organization-specific skills that drive higher performance. Members, register for our webinar on integrated talent management, which is on Thursday (EMEA-friendly time!).
Keeping applicants in the dark—The Talent Board’s annual Candidate Experience survey finds that only 43% of employers follow-up with candidates after submission of a resume or application online. The lack of communication hurts the candidate experience, and on average, 8% of job candidates leave the experience with enough resentment toward the organization to affect their relationship as customers. Is your candidate experience hurting? Use our Recruiting Effectiveness Dashboard to find out.
Assuming your Asia-based leadership roles should go to expats—According to a Spencer Stuart analysis of 1,500 placements made from 2005 to 2010, three out of four senior executives hired in Asia by multinationals were Asian natives already living in the region. Organizations find that deploying expatriates is expensive and slows a firm’s progress in the region. For organizations seeking local expertise, Asia natives familiar with local culture but educated in the US or Europe are most sought after and command salaries on par with, and sometimes higher than, their expat counterparts. Members, see how sourcers at one organization partner with trusted, local community organizations to generate leads from the constituencies of those organizations.