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Exploring the decline in internal hiring rates, ETHRWorld


hr.economictimes.indiatimes.com | www.ETHRWorld.com

<p>Josh Bersin</p>
Josh Bersin

In the pandemic, employers globally were good at spotting great people in their own organizations.

Now, firms seem to have forgotten this fact—as well as the huge value in curating their own people and promoting or transferring them to fill critical gaps. This is leading to loss of opportunity and significant recruitment overhead. It’s also jeopardizing the loyalty and contribution of existing employees who are frustrated at new people coming into the business and being valued purely because they are “new.”

This would all be of concern even in a healthy economy, but it’s of genuine concern in the complex economicx going hybrid or need a full return to work, and the impact of automation and AI.

At the same time, Indian unemployment is at a one-year low and Indian employees are prepared to spend longer finding exactly what they want from a role. In fact, global data from our “Talent Climate” research series, shows that the average global time to hire in 2022 has risen to 44 days.

In other words, it’s still hard to find good people. And if time-to-hire rates are higher, and in some cases getting worse, employers have to work even harder to find the right candidate in most positions.

Focusing on internal talent can help organizations address time-to-hire rates. Yet, internal hire rates have slumped to just 24% of all hires on average, one of the lowest rates of internal hiring seen in years.

At the peak…


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