Guest post by Zach Lahey, Research Analyst, Human Capital Management, Aberdeen Group
As we all know, great talent is increasingly hard to find. That’s why it’s a necessity to ensure that the candidates who are found are truly excellent fits for the role and for the company. Enter online reference checking, notably used at the onset of the hiring process. It takes the guesswork out of talent acquisition and does wonders for retention. In fact, businesses that use reference checks at the beginning of talent acquisition are 19% more likely to retain their first-year employees than organizations that wait until after the interview.
As compared to others, best-in-class companies are:
2.1x more likely to employee online reference checking solutions
2.1x more likely to have definitions for success of top performers
2x more likely to provide hiring managers with insights into whether candidates are good cultural fits for jobs or not
80% more likely to utilize a repository of talent profiles to identify and track talent across the company to help make better hiring and promoting decisions
21% more likely to prioritize updating their talent acquisition technology to be more contemporary, east-to-use, and powerful
The bottom line: Online reference checking is still an emerging technology, but organizations who have adopted it have seen significant results. Case in point, businesses that conduct online reference checks are almost 2.5 times as likely to be able to tie the source of candidates to their performance as employees. Online reference checks yield a wealth of information that can’t afford to be ignored.
Download the full Aberdeen report: Online Reference Checking, A New Strategic Focus in the Age of the Candidate.