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Measuring Quality of Hire: You Can’t Improve What You Can’t Measure
What if you could know with 100% certainty that a job candidate would excel in the job? While Quality of Hire (QoH) metrics can’t promise that, they can give you the objective data that will make your hiring decisions much more accurate.
Taking a closer look at those hard-to-define skills and qualities that add up to a really good hire can greatly increase your recruiting success, and you don’t have to make your “best guess” effort. You can use the formula provided to calculate the exact impact your hiring choices make on your company’s bottom line. It can also provide the kind of framework that will lead to improved employee performance throughout your company.
Quality of Hire metrics can help your organization . . .
Track cost of hire and turnover rates.
Assess skills and abilities pre-hire to determine accurate job fit.
Measure employee performance, productivity, and error rates.
Gauge manager satisfaction through surveys and feedback.
While implementing QoH may seem daunting at first, you don’t need to do it all at once. Start with easily defined measures, perhaps those already in place for production and sales, and build from there. By analyzing current practices and performing regular assessments, you can work on improving them one step at a time.