18 May Quality of Hire
Recruiting organizations are not delivering the high-quality hires their businesses urgently need. 1 in 5 hires are “bad hires” or are “regretted decisions,” and the turnover rate among new hires is much higher than that of all employees combined. This has financial cost—US$1.6 million in rework for every 1,000 new hires—as well as soft costs: damaged employment brand, recruiter morale, employee engagement, and Recruiting’s relationships with the line.
“About 50% of our middle to executive management will be retiring in the next five to ten years.” – Kim Nowell, Chief People Officer, Ingram Barge
— And Slower, Too