75.2% of the candidates we place are successful and stay 12+ months or more.
Being honest, it is very hard to know how Talent X compares objectively to other recruiters / hiring. This is because there is no agreed-upon consensus of what hiring success is, nor a codified set of data to compare it to. So this is relative to whatever statistic you find. I scoured the internet for hiring success stats and the results are messy and inconsistent.
(If you find or know of any stat on this please do let me know: [email protected])
The typical way recruiters are measured is by looking at time-to-fill, retention rate, cost per hire, offer acceptance rate, etc.
But you could do well in these ways and hire someone terrible.
I think all recruiters and hirers should measure their success rate the same way we do; counting it only when a candidate:
One: Stay 12 months or more.
Two: Meets or exceeds role expectations.
Three: Do not cause cultural or interpersonal upsets.
We offer flexible replacement guarantees and options which gives us confidence in knowing that if the candidate doesn’t meet the above criteria, the client would use these replacement options. So if these replacement options are not used, then the candidate must be good.
So when we say that 75.2% of the candidates we place are successful, we mean they meet the above criteria.
How good is this compared to other recruiters?
I have no idea.
Despite my attempts I have never been able to find another recruiter who promotes a “success rate”, let alone measures it. This means, technically, we have the highest hiring success rate in the world, but I cannot know for sure.
I have searched industry and global recruitment stats and none of them measure the success of a hire in the above criteria. I would guess that even if they did it would not be based on 12 months but more likely based on 3 months anyway.
I did see a hiring success rate of 35% in one article*, in which case ours would be 2.1x better, although I do not know how accurate this figure is across the board.
What I can also say is:
- In Australia, it takes an average of 82 days to fill in a vacant position**. It takes us an average of 40 days / 2.05x faster.
- Average job applicants are 15 per job***. Our averages 35 / 2.3x more.
- Only 14% of those hired through job boards stay****. 75.2% of our placements stay / 5.3x more likability to stay. And the vast majority (97% roughly) come from job boards.
I am wearing my heart on my sleeve and bearing all that I have to share what I deem to be successful in an attempt to spearhead an era of recruiter accountability.
I am trying to take as much responsibility for the quality of our candidates as I can, and I would like to see the industry do the same.
As a perfectionist I even take issue with our 75.2% stat and wish it were higher. But there are so many factors that go into a good hire, a lot of it on the employer side, too.
I guess what I am trying to say is I am in the business of minimising risk and maximising objective confidence.
And that is our purpose.
* Greg Lewis LinkedIn Article of June 30, 22