Novo Releases First Annual Corporate Recruitment Benchmark Survey Results

Findings Show Most Companies Lack Time and Resources Needed To Find and Hire Top Talent

MILWAUKEE--()--The Novo Group, an integrated corporate recruitment advisory firm that helps organizations attract top talent, recently surveyed executives and candidates to gain insights from both sides of the hiring equation. Findings from the survey results have been included in a report that provides a benchmark of current recruitment infrastructures, processes and metrics, along with recommendations on how to best apply these findings to improve human capital gains within any organization.

Your best candidate is already working – for the competition.

Two of the biggest issues facing recruiters today are the growing number of passive candidates (those employed and not actively looking) and the lack of proactive sourcing (reaching out to candidates who are not submitting their resumes).

Novo’s survey findings showed that over half (55%) of the candidate pool is employed and not actively looking for a job and of those employed, only 9% stated they were happy with their job and not looking to make a career move. In the survey report, it’s apparent that corporate recruiting departments are aware of the many passive candidates based on the techniques they use to pursue them, however, only 13% of companies said that more than 50% of their hires were passive candidates in 2012 and only 21% proactively cold call candidates.

“With corporate America leaner than ever, employed candidates are crunched for time. The reason many of them fall into the category of “passive” candidate is that they just don’t have the time to actively pursue a career move,” said Cindy Lu, CEO of The Novo Group. “To connect with these candidates, recruiters need to not only pay attention to where passive candidates spend time in their search but they also need adequate time for sourcing proactively.”

Disconnect between priorities and concerns can cause a company to misalign resources and time.

Despite high unemployment statistics, the companies surveyed (90%) reported their top challenge to be finding qualified talent. Yet, when asked what their top talent management priorities are for 2013, recruiting top talent came in 3rd.

Top Talent Management Challenges:   2013 Talent Management Top Priorities:

1. Finding qualified talent

1. Succession planning

2. Employee retention

2. Employee retention

3. Competitive compensation

3. Recruiting talent

4. Culture concerns

4. Training and development

5. Lack of training and development

5. Employee engagement and culture

“A disconnect between priorities and concerns can cause a company to misalign resources and time,” said Lu. “Ultimately causing companies to miss out on the one thing it needs most to succeed – top talent.”

Following are some additional highlights of Novo’s findings:

  • In house recruiting is running lean with over half (65%) having 2 or fewer in-house recruiters solely focused on recruiting.
  • 80% of the companies surveyed use outside help to supplement internal recruiting efforts.
  • 30% of companies surveyed are not tracking any recruiting metrics and only 25% are tracking quality of talent/hire. A recruiting function cannot know how effective it is and can’t increase results unless it measures quality of hire.
  • 29% do not know their annual recruitment spend.

To receive a copy of the full report go to http://thenovogroup.com/resources/employers/2012-benchmark-survey/.

About Novo

The Novo Group, Inc. is an integrated corporate recruitment advisory firm that helps organizations attract top talent. By leveraging a proprietary recruitment framework, we’ve raised quality-of-hire metrics while decreasing enterprise recruiting costs for our clients. Novo delivers these customized recruitment solutions with one of the most effective teams of wickedly smart recruiters in the country. Because of Novo’s unique hourly pricing model, Novo’s clients hired over 1300 professionals in the last three years with over 50% of the candidates being passive and a cost-per-hire of less than half of traditional search firms.

Novo is a national company headquartered in Milwaukee, WI with offices in Chicago and St. Louis and remote workforces in Arizona, California, Pennsylvania, and Texas.

Contacts

Media Contact:
The Novo Group
Kelly Shumaker, 720.938.5646
Kellyshumaker2@thenovogroup.com

Release Summary

Novo’s survey gains insights from both sides of the hiring equation, providing a benchmark for recruitment infrastructures, processes, metrics, and recommendations on how to best apply these findings.

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Contacts

Media Contact:
The Novo Group
Kelly Shumaker, 720.938.5646
Kellyshumaker2@thenovogroup.com