How much easier would your conversations with C-Suite execs be if you could prove how successful your hires are?
Measuring Quality of Hire is not a new idea. The concept has remained on the periphery of the talent industry for some years now, even though talent managers universally acknowledge that being able to measure Quality of Hire would reduce attrition, improve company performance and lower recruitment costs.
Why, then, has the recruitment sector not jumped on this chance to solve its biggest problems?
The Quality of Hire Challenge
The answer is that no one has been able to accurately measure Quality of Hire before. A recent study showed that two-thirds of respondents had tried to improve Quality of Hire within their organisations, but 100 percent of respondents admitted that neither they nor any organisation they knew of was effectively measuring Quality of Hire.
These results may be surprising to some, as it seems obvious that measurement must precede improvement. However, when considering that a lack of reliable data was the biggest barrier (87.5%) to measurement, it’s understandable that some would try to skip straight to improving Quality of Hire. The trouble is, how do you know what you should be improving?
Measuring Quality of Hire
The age-old ‘stakeholder satisfaction survey’ has been used to measure almost everything under the sun, including Quality of Hire. Anecdotal evidence doesn’t hold much sway when dealing with end-of-year reviews or negotiating a recruitment budget, however. Determining success or failure based on subjective opinion has never been an effective method of measurement.
It’s been suggested that performance reviews could provide insight into Quality of Hire, but again this is typically assessed using stakeholder feedback and so still lacks the empirical, quantifiable metric required if Quality of Hire is to be taken seriously.
However, if teams had the facility to track performance progress over consecutive months with the aim of contrasting this with other similar hires, this would shine a light on individual performance in a more objective manner.
The Quality of Hire Solution
For Quality of Hire to really be improved, it’s clear that we need to remove subjective opinions from the measurement process. We all have subconscious biases and prejudices which mean we see the world through our own lens, and so the standardisation of measurement is the obvious first step.
Technology allows us to let impartial algorithms do the analysis, collect relevant data, and present clear findings about what Quality of Hire within an organisation really looks like. Once established, patterns will emerge around the type of individuals who thrive within specific departments, job roles and work environments. This not only allows recruiters and hiring managers to narrow their focus, it has a directly impact on long-term attrition and overall company performance.
Find out what improving Quality of Hire could do for your organisation with a free personalised demo of Talenytics.
Content Marketing Specialist
Gianna is a copywriter with degrees in English and Marketing. She is passionate about the ever-evolving world of technology, and uses her skills to research the latest industry trends and insights.