In the busy world of finding talent, many metrics have guided recruiters’ strategies such as time-to-hire and acceptance rate. Yet, amidst the sea of data, there’s a clear shift—a move towards the tricky idea of quality of hire. Recently, LinkedIn released The Future of Recruiting, a study that determined quality of hire was becoming the most important metric used to evaluate recruiting effectiveness. Of the many professionals LinkedIn surveyed, 54% said quality of hire would shape recruiting over the next five years.
Why Quality of Hire Reigns Supreme
Amid the current talent shortage and low levels of hiring among many companies, the adage “quality over quantity” resonates more profoundly than ever. Organizations are honing their focus on securing talent gems that promise not just competence, but compatibility and contribution.
Understanding the Metrics: Measuring Quality of Hire
Of course, talking about quality of hire is easy. Measuring how successful you are at it is hard. So, how do you tell if someone is a “quality hire” among many applicants? You can pay attention to some of these key factors:
- Job Performance: Beyond the qualifications lies the litmus test of actual job performance—does the new hire not only meet but exceed expectations, championing organizational goals with finesse?
- Team Fit: When it comes to teamwork, the right fit can spell the difference between synergy and discord. Does the recruit enhance the team’s dynamics, fostering collaboration and cohesion?
- Culture Add: As organizations evolve, so too do their internal cultures. Does the newcomer enhance the ethos of the organization, improving its values and mission with authenticity?
- Productivity: The hallmark of a quality hire lies not just in potential but in performance—does the individual translate promise into productivity, driving tangible outcomes that propel the organization forward?
- Retention: A quality hire is nothing if they don’t stay with your company. Employee tenure gives deep insight into the quality of their fit within the organization. Has the employee stayed with the company and continued to perform?
- Soft Skills: While not considered a traditional component of the quality of hire metric, soft skills — like communication and leadership — are becoming increasingly important to organizations. How has the hire contributed to the company in ways that aren’t directly tied to job performance?
Nurturing the Seeds of Quality: Tips & Strategies
Improving your quality of hire requires measurement and action. These tips should guide you through developing a program of evaluation and optimization.
- Implement Objective Assessments: Embrace evidence-based assessment processes. Structured interview models can give you a strong start before hiring. After hiring, standardized, comprehensive training also ensures bias-free evaluation. Finally, new hires should be evaluated with standardized quantitative assessments at periodic intervals — such as 30 days, 90 days, 1 year, etc. This will provide you with solid data regarding quality of hire to evaluate the effectiveness of your strategies.
- Analyze and Adapt: Use the data you’ve produced to do an objective analysis of your current strategies. This can help you identify shortcomings in your process and address them with precision.
- Engage Experts and Agencies: Agencies like Spot on Talent can serve as partners and advisors in finding your way through this changing recruiting landscape. Armed with experience, insights, and resources, crème, they can be instrumental to increasing quality of hire.
As quality of hire becomes more and more crucial to modern recruitment, your company can become more successful by prioritizing and evaluating performance, team fit, culture add, productivity, retention, and soft skills. And if you ever find yourself overwhelmed by this complicated, competitive landscape, we’re here to help!
