Of the nearly 500 executives surveyed in August 2015, one third said a candidate’s motivations and drivers are the most important factor when sourcing for open roles within an organisation.
That was followed by a candidate’s skill set at 27 percent and past experiences at 24 percent. Hard-wired traits such as assertiveness and confidence came in at 16 percent, and none of the executives believed the university the candidate attended or the degree he or she attained was most important. “What executives tell us when they say a candidate’s motivations are most important is that the person they hire must be a good fit for the company’s culture,” said Futurestep Managing Director of Global Operations Vic Khan. “For example, one very potent driver is power – the motivation to attain work-related status, visibility, responsibility and influence. Those who work in a competitive environment and have this driver would likely be highly engaged and successful. Conversely, those same people working in a more collaborative culture may struggle.”
The survey also found that prompt feedback from those sourcing candidates is the most important factor in successful candidate care, with 40 percent of respondents putting it at the top of the list. “The right technology tools, such as comprehensive applicant tracking systems, are key to helping recruiters provide timely feedback,” said Khan. “And of course, the proper training that offers best practices and processes is critical to ensuring recruiters are communicating effectively with candidates.” More than two-thirds (68 percent) of respondents say their best candidates are active job seekers, with 32 percent citing passive job seekers.
“Executives may be missing the opportunity to find highly qualified candidates if they don’t pay attention to passive job seekers,” said Khan. “One approach we recommend is to create a strong employer brand that is communicated consistently across a number of mediums including online talent communities and social media channels. Even those not looking for a job might become interested in a company if they see it as a dynamic, interesting place to work.” Finally, the survey found that more than half (52 percent) of respondents turn to their own professional network first when sourcing candidates. The fewest number of respondents (6 percent) say they rely on internal referrals. Having a solid professional network has been and will always be critical for those sourcing candidates,” said Khan. “However, we also recommend that organisations create an internal mobility program to tap into the goldmine of key talent that already exists within the company.”
Survey Results
What’s most important when sourcing candidates?
The study also reveals which people management approaches offer the greatest financial return by industry. For example, developing strong and inspiring leaders generates the greatest efficiency gap in Construction. Whereas Recognising and rewarding performance has the greatest impact on efficiency in manufacturing (115 percent), Accommodation, Food and Leisure (109 percent) and Wholesale and Retail (109 percent). Paul Devoy, Head of Investors in People, explains: “It’s obvious that a skilled, confident workforce is essential to a productive enterprise. However, it is difficult to determine the true impact on the bottom line, so sometimes business leaders can forget the importance of good people management. This study provides the evidence that focusing on excellence in people management can lead to significant performance gains for the sector and economy as a whole.”
“The effect of an efficiency gap is hitting the UK economy hard and better people management within firms should be recognised as a key mechanism by which the UK economy can address low performance. To make it easier to identify and compare approaches of the best performing firms, Investors in People has launched the first ever real-time ‘People Management Dashboard’. Anyone can now access a unique set of common metrics, showing the management performance of workplaces across the UK. It’s a simple way to see how well employers are leading and supporting their people. This knowledge comes from working with thousands of top businesses across the country, from Allianz Insurance, McDonald’s restaurants, to Brompton Bikes. Hundreds of academics, business leaders, and industry experts were involved in the creation of the sixth generation Investors in People standard, which will launch on 15 September.”
www.futurestep.com
Past experiences 24 percent
Skill set 27 percent
Motivations and drivers 33 percent
Hard-wired traits such as assertiveness & confidence 16 percent
College attended & degree(s) attained 0 percent
When sourcing for a job, where do you find your best candidates?
Active job seekers 68 percent
Passive job seekers 32 percent
What’s the most important factor in successful candidate care?
Prompt feedback 40 percent
Real-time updates 6 percent
Transparency 35 percent
Recruiter’s superior interpersonal skills 19 percent
What sourcing channel do you turn to first when searching for candidates?
Job postings 14 percent
Your professional network 52 percent
LinkedIn 28 percent
Internal referrals 6 percent
