The data reveals that companies implementing skills-based hiring methods are achieving remarkable outcomes across five essential metrics. Notably, 89.8% of organizations have witnessed a decrease in cost-to-hire, indicating improved efficiency in recruitment processes. Additionally, 91.4% of organizations have experienced a reduction in time-to-hire, streamlining the hiring timeline. We also find that 92.5% of organizations have seen a decrease in mis-hires, highlighting the effectiveness of skills-based assessments in identifying the right candidates. Furthermore, 91.2% of organizations have observed an increase in retention rates, indicating better employee satisfaction and engagement. Lastly, 91.1% of organizations have reported an increase in diversity, demonstrating the positive impact of skills-based hiring on creating more inclusive and diverse workforces. These findings emphasize the significant benefits that companies can achieve by adopting skills-based hiring practices. Download the full report.
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