Quality of Hire Fast Track Series 3: The Benefits of Tracking Quality of Hire

Welcome to the third edition of our Quality of Hire Fast-Track Blog Series!

Quality of Hire is the value that a new employee contributes to the overall success of your company in the long term. Although everyone is now hearing about Quality of Hire on a regular basis, many organizations haven’t yet caught on to exactly how they should be measuring, tracking, and leveraging QoH.

5 Benefits of Quality of Hire

In many cases, there simply has not been enough exposure to the data supporting the value of QoH and to gain necessary support from stakeholders in the recruitment process. Here are five indisputable benefits of QoH that align with business objectives:

#1: Improved Short- and Long-Term Retention

Quality of Hire tracking and analysis help identify candidates who will provide good culture add as well as culture fit, to enhance team communication, collaboration and  innovation.  

#2: Increased New Hire Productivity

Two key factors in calculating Quality of Hire are performance and engagement. Being able to score QoH across your entire workforce will help you identify which new hires are the most productive, so you can seek similar candidates in future hiring rounds.

#3: Reduced Recruiting Costs

Increased retention and the ability to surface candidates with high potential means your average cost-to-hire will drop, thanks to less employee turnover and faster candidate selection.

#4: Enhanced Employee Morale

Recruiting for Quality of Hire means you’re bringing in new hires who are motivated, high performing out of the gate, and a good addition to your company culture. This delivers heightened morale across your organization.

#5: Maximized Organizational Revenues

Employees with high QoH scores are more engaged. Studies show that organizations with highly engaged employees enjoy 26% more revenue per employee. Hiring based on QoH metrics just makes good business sense.  

Quality of Hire is SO important, it’s critical to start taking action now, even if it’s just baby steps. We’ve tied our latest Data Labs insights with real-life action items to jumpstart your Quality of Hire program. 

Use this Quality of Hire Cheat Sheet to get started right now - it shows you how to:

• Improve your interviewing techniques (they may not be as good as you think)
• Understand exactly how important pre-hire assessments are (you'll be surprised)
• Adjust your decisioning around layoffs (firing the wrong person can be disastrous)
• Re-evaluate the value of internal referrals (are these really the best candidate source?)
• Calculate, track and improve Quality of Hire (it's not as hard as you think - we promise)
  
  

Are you ready to take your company to the next level with Quality of Hire? Contact our team for a free demonstration of how our platform can do just that.

Quality of Hire Fast-Track Series: Everything You Need to Know