According to the 2021 Mind the Trust Gap report - which surveyed 500 HR talent leaders from varied sizes of organisation across different sectors - 85 per cent of UK businesses need to critically improve the quality of their recruitment processes and 77 per cent say they need to improve the way they assess the value and skills people bring to the business.
Despite recruitment across the UK having picked up - figures show the that the number of workers on payroll surged by 356,000 in June - businesses are clearly struggling to recruit amid rapidly changing circumstances.
The data collected from the research has shown that improving hire quality is the biggest priority over the coming year, as 57 per cent of all hires made in the last 12 months are not working out in some capacity - with 32 per cent working out in some areas but not all and 25 per cent not working out at all. Only 43 per cent are working out in all areas.
The key priorities needed to be implemented by HR managers in recruitment over the next 12 months, was found to be:
- Improving quality of hires
- Looking beyond CVs and interviews to differentiate candidates
- Speeding up the recruitment process
- Reducing the costs of recruitment
- Improving the candidate experience
The data further reveals that hiring managers believe the best indicators of how an employee will perform in an organisation are personality - 34 per cent; emotional intelligence - 32 per cent; adaptability - 32 per cent; performance in an interview - 7 per cent and qualifications 16 per cent. Relevant previous experience on a CV is no longer considered valuable.
Nearly all respondents - 88 per cent - of hiring managers and recruiters believe predictive hiring and hiring for potential will be essential to their organisation by 2023.
Sabby Gill - CEO of Thomas International, leading global assessment platform provider - commented:
“Businesses need to make a step change in how they recruit if they’re to hire the right candidates first time, every time. Otherwise, they risk falling behind. Predictive hiring can help identify traits in individuals and teams that can be harnessed and acted upon so companies can function properly and innovate successfully in this new world of work.”
Psychometrics were said to help enhance trust during recruitment by 72 per cent of those surveyed. When asked if only one method were to be used to predict the future performance of all hires in the next 12 months, 46 per cent of hiring managers opted for psychometric testing only. Only 33 per cent said interview and 21 per cent said CV.
The research also stated that 70 per cent found the benefits of predictive hiring were improved quality of hires; 86 per cent found improved employee engagement; 80 per cent found greater ability to discover areas for individual’s personal development and 79 per cent found highlighting skills shortages within the business.
