- Research Reveals 57% Of Companies Do Not Have the Data They Need to Make Decisions on Talent
Talview, the global talent measurement leader for hiring and proctoring, announced the release of a research report in association with Aptitude Research, Talent Measurement for Data-Driven Hiring Decisions. The report is based on verified responses from over 340 enterprise HR and Talent Acquisition director-level executives, and more than fifteen hours of one-on-one interviews.
The report highlights a rapidly growing focus on implementing a consistent method of gathering data at every stage of the hiring process, from sourcing and recruitment, to interviews and assessments, to deliver actionable candidate insights. The goal for most HR and Talent Acquisition leaders is effective talent measurement, which is the ability to use candidate data to make faster, smarter hiring decisions. This data-driven approach will enable enterprises to hire better candidates, while reducing time to hire and cost of hire.
“2022 is going to be a year of progress,” said Sanjoe Tom Jose, CEO and Co-founder of Talview. “As companies move past the uncertainties of the last two years, we’re seeing them embrace AI and other advanced technologies to not just survive, but also to thrive in the evolving business landscape. Talent measurement is increasingly being recognized as a vital part of the hiring process to lower unconscious bias and provide an equal playing field for all.”
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In recent years, enterprises have made significant investments in recruitment marketing, sourcing, and applicant tracking systems. Talent measurement has not been a common component of these investments, which has resulted in a lack of efficient processes to make decisions on time, and a lack of effective tools to perform informed decision-making in hiring. The results:
- One in two companies are reevaluating their hiring process
- One in four companies will not reach their hiring goals this year
- Forty-five percent (45%) of companies report losing candidates after they apply
The new report includes data on how hiring priorities have changed as a result of the weaknesses and inefficiencies exposed during the global pandemic. Improving the efficiency of the hiring process, finding more candidates faster, and using the totality of data gathered throughout the process to make quick, confident decisions is a major goal for enterprises around the world.
“Interviews are taking place remotely. Hiring is remote,” said Madeline Laurano, founder, Aptitude Research. “We have to rethink the entire hiring process. How we’re going to use digital interviews and digital assessments. How we’re going to engage with candidates and make decisions in a world where a significant part of the workforce is remote. Companies need insights that provide a full view of a candidate, including potential, performance, and learnability.”
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The research reveals that while companies have begun shifting from resume data to interview and assessment data, hiring practices have continued to be inconsistent and biased, two factors that negatively impact the quality of hires. A lack of integrated software, the influence of personal bias, issues with data accuracy, and minimal insights into candidates have resulted in uncertain decision-making. These same factors also result in a poor candidate experience, which in turn results in top talent dropping out of the process after they’ve applied.
“This report highlights the increasing role that interviews and assessments play in recruiting and hiring decisions,” said Fred Rafilson, Chief I/O Psychologist, Talview. “While 60% of the data used for hiring decisions comes from interviews and assessments, more than 30% of respondents signaled a distrust in the quality of the data captured in the process. Current processes are simply not using data from interviews and assessments consistently.”
This year brings a focus on talent measurement. Enterprises are thinking more holistically about screening, interviewing, and assessing, with the goal of a more consistent, informed, and data-driven approach to hiring. The objective is to improve the quality of hire while providing a fair and equitable experience for everyone. Read all the details and insights in Aptitude Research’s report, Talent Measurement for Data-Driven Hiring Decisions.
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