We asked thousands of hiring managers globally a simple question: what percentage of hires on your team do you think are “bad” or “regretted decisions”?
“More than one in five”, they answered. Hiring managers admit that 1 in 5 employees should never have been hired in the first place.
This stall in new hire quality couldn’t come at a worse time: the work environment is changing faster than employees can develop the skills needed to succeed, and business leaders globally need a 20% improvement in employee performance to achieve growth expectations.
Furthermore, when we asked over 3,300 talent acquisition professionals globally “what qualities do the best candidates possess?”, this is what we heard:
How can we ensure we hire candidates who truly possess these qualities? More importantly, how can we get higher-quality hires who are ready to perform in today’s dynamic work environment? Simply put, driving breakthrough quality of hire today requires more focus on candidate fit, not just ability. It’s more refined thanculture fit though, which drives quality of hire by just 12%. It’s about “network fit” —how well the new hire works with his or her colleagues — which boosts quality of hire up to 30%.
For example, while a candidate may be a perfect cultural fit for your company as a whole—e.g., collaborative, detail oriented, an intelligent risk-taker—he may not be the best network fit if his team members have completely different communication styles.