Novo Group Survey Highlights Corporate Recruitment

Integrated corporate recruitment advisory firm The Novo Group just released the results of its first annual Corporate Recruitment Benchmark Survey. The firm, which helps organizations attract top talent, surveyed executives and candidates to garner insights from both sides of the hiring process. Findings from the survey results are combined in a report, one the company says “provides a benchmark of current recruitment infrastructures, processes and metrics, along with recommendations on how to best apply these findings to improve human capital gains within any organization.”

“With corporate America leaner than ever, employed candidates are crunched for time. The reason many of them fall into the category of “passive” candidate is that they just don’t have the time to actively pursue a career move,” Cindy Lu, CEO of The Novo Group, said. “To connect with these candidates, recruiters need to not only pay attention to where passive candidates spend time in their search but they also need adequate time for sourcing proactively.”

Some key data the survey found were:

• Strong disconnects exist between hiring concerns and priorities. Ninety percent of the companies surveyed reported finding qualified talent as their top challenge yet, when asked to list their top talent management priorities for 2013, recruiting top talent came in at no.3.

• Almost half of the participating candidates were known as “passive job seekers.”

• Most companies have less than two staff members handling recruiting, while 80 percent of companies use outside help to recruit.

• 36 percent of companies either don’t know how they track hiring or do not track the process at all.

• Engineering, IT, and Sales are the most challenging areas to hire for.

The top talent management challenges included things like finding qualified talent (1^st), employee retention(2^nd) and competitive compensation(3^rd). The 2013 talent management top priorities included succession planning(1^st), employee retention (2^nd), and  recruiting talent (3^rd), to name a few.

“A disconnect between priorities and concerns can cause a company to misalign resources and time,” Lu said. “Ultimately causing companies to miss out on the one thing it needs most to succeed – top talent.”

Download the complete report here.