4 Ways to Measure the Quality of Hire
Recruitment KPIs and metrics can help you gain various insights into your recruitment plans and rethink the strategies that work for your organisation. But, the problem with recruitment KPIs is that not every metric is easy to track as some metrics come with a few complications that make them difficult to track. For instance, the quality of hire is one such metric that is difficult to track.
Quality of hire is a metric that, as the name suggests, measures the quality of the candidates you hired for your organisation. The term “quality” will change from organisation to organisation, but the base idea is that the quality of hire measures the employee’s contribution to the organisation’s development.
While measuring the quality of hire metric is tricky for different organisations, it is necessary to assess the hires you have made for your company. This helps you find where the problems lie and plan your recruitment strategy accordingly.
Specific methods can be employed to measure the quality of hire in your organisation. The following methods help you keep track of your recruits and their contribution to the organisation.
1. Job Performance Reviews
A straightforward way of tracking your recruits’ quality is to assess their performance on the job. A job performance review is collected for each individual for various assessments within the organisation. Tracking the same data to measure the quality of hire helps reduce the time taken to collect information.
A job performance review in which the employer does not collect 360-degree data may be incomplete and cannot be used to assess the hire quality. To overcome this and improve the organisation’s performance review, it is necessary to improve the collection of your data.
To get an unbiased result, collect reviews from various organisation stakeholders. Look at the employee’s performance from the time they joined the organisation. You can also look at their cultural fit and how they bring value to the organisation in their own way.
2. Ramp-Up Time
Employees need time to get used to the company’s processes. The ramp-up time indicates how long it takes for an employee to join the organisation and reach their full potential.
This does not only mean the day-to-day responsibilities the role demands. The employee may not quickly get used to the company culture, especially right on the day they join your organisation. It is necessary to give the employee enough time to adapt to the organisation.
An employee who takes too much time to get used to the organisation may not be the right fit for your organisation. This can also reflect poorly on the employee. If an employee does not take much time to adapt to the organisation, they may also quickly adapt to other different environments.
3. Hiring Manager Satisfaction
Hiring manager satisfaction is another recruitment metric that is measured to understand the new hire. This metric is calculated mainly by using various surveys that act as feedback about the new hires.
The hiring manager should fill out surveys for each new hire and give complete feedback to understand and learn more about the candidate. This might take some time for the hiring manager. This method can also be biassed to a certain extent.
Use the hiring manager satisfaction metric cautiously to learn more about the quality of your hire. It is necessary to include this while assessing the quality of your hire because it can help you get the hiring manager’s perspective. This is important when you are finding faults in your recruitment plan and rectifying them.
4. Pre-Hire Quality
Most methods assess the candidate after they are a part of the company. Although this hiring information is important, at the same time, it is also vital that we look at the bigger picture to thoroughly evaluate the quality of hires.
This is where the pre-hire quality of the candidate is necessary. To better understand the employee, track the metrics of their quality before they were a part of the organisation. This can help you identify their growth rate and how much progress they were able to present after joining your organisation.
Some aspects that could be tracked with regards to the pre-hire quality are:
- The resemblance of the candidate with the candidate’s persona.
- Their performance in past organisations.
- They have plenty of experience in their respective fields.
When it comes to the quality of hire, the more relevant data you collect about the employee’s past, the more good insight you can have when you need to adequately analyse.
Understand that the quality of hire is an entirely subjective metric. It depends on the organisation. This metric represents how efficient your recruitment efforts are. To make the best use of this metric, be sure that you streamline the quality of hire metric to suit your organisation’s needs, rather than pulling in factors that your organisation does not require.
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