The Novo Group- 2014 Recruitment Benchmark Survey Results

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Novo Group Data Uncovers Connections Between Recruiting and Corporate Profitability

Recently published results of the 2014 Novo Group Recruitment Benchmark Survey reveal several aspects of the recruitment process that maximize the potential for corporate growth and profitability.

“The importance of recruiting, interviewing and hiring high-quality candidates is undeniable,” said Cindy Lu, founder and CEO of Novo Group. “Most corporate leaders believe recruiting is a tactical function, but Novo discovered that talent acquisition processes must be founded in solid strategy to succeed.”

The Novo Group connected with over a thousand employers and candidates across the country to delve into key components of corporate recruiting that ultimately affect top-line growth.

Actively Recruit Passive Candidates
Passive candidates, the individuals defined as “currently employed but may be open to another opportunity,” comprise 65% of the candidate pool, up from 55% in 2012. Of the companies that saw 11% or more top-line growth last year, 63% made a commitment to modify their recruiting process when recruiting passive candidates. In comparison, of the companies that experienced ≤0% growth, only 25% modified recruiting processes when recruiting passive candidates.

Request Candidate Feedback on the Recruiting Process
A significant gap exists between how candidates perceive the recruiting process, and what companies believe they have delivered. When asked to rate the candidate experience, 73% of corporate respondents believe they offer a “Very Good or Good” experience, while only 41% of candidates agree.

Measure the Quality of Recruitment Process
Just over half of companies report measuring quality of recruitment processes. Companies who measure quality of recruitment process and/or quality of candidate rate a greater number of hires as “top talent” than companies without quality measures. On average, 57% of the companies measuring quality of recruitment process enjoy higher top-line growth rates compared to companies that do not measure quality.

A successful recruitment process requires continuous iteration in response to changing market trends.“With a scalable, high-quality recruiting strategy, senior leadership can improve long-term corporate profitability--and your employment brand,” said Lu.

If you have questions on the 2014 Novo Group survey, or would like to request a speaker on strategic recruiting, email info(at)thenovogroup(dot)com.

Novo Group provides the corporate recruiting strategy, experienced recruiters, and proven talent acquisition process necessary for success. By designing and executing an effective way to hire professionals, Novo Group has transformed recruiting into a competitive advantage for growing businesses.

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