3 Things You Didn't Know About Quality Of Hire

When you think about Quality of Hire, it can feel like a nebulous idea that is hard to get hold of and understand on a tangible level. However, this metric can be a recruiter’s best friend. From identifying top performers in your organization to helping you predict which candidate will be the best hire, Quality of Hire can be your magic bullet.

When used correctly in conjunction with candidate checking and new hire analytics, Quality of Hire can become a powerful tool for taking your workforce to the next level. Here are 3 things you didn’t know about Quality of Hire:

1. The Best Performance Predictor

Quality of Hire is hands down the best predictor of performance. A LinkedIn report on Global Recruiting Trends described Quality of Hire as “the magic metric” on the basis that top performers will contribute vastly more value to their organizations. 

There's a definite link between Quality of Hire as related to high-performance workers and their resulting productivity: research has found that high-performing employees can deliver up to 400% more productivity than their average counterparts. 

Recruiting with a focus on Quality of Hire can translate to more departments hitting their goals, more employees receiving higher performance review scores, and more new hires settling in to stay with the company long-term.

2. A Valuable Pre- and Post-Hire Evaluation Metric

Quality of Hire can be leveraged to improve your organization’s recruitment and new hire onboarding. As a metric, it can be analyzed and measured in your current employees, and then used during the candidate screening process to identify those who are most likely to succeed in your organization. 

In addition to being a valuable pre-hire assessment tool, Quality of Hire can be tracked post-hire to see which employees improve and which decline. Looking at cumulative scores across the entire workforce provides a holistic view of your organization’s performance level over time.

When you use Quality of Hire as a key metric, you’ll be able to see the results in new hires who perform at a higher level and make the whole company more productive. This new way of recruiting will help you build a future-proof workforce and increase company revenues.

3. Dovetails Perfectly With Recruitment Tools

Quality of Hire can deliver insights deeper than any others available to you when used with the right tools. For customers using both Crosschq 360 for reference checking and Crosschq Analytics to help benchmark Quality of Hire over the past 6 months:

• Percentage of high-potential new hires has risen from 31% to 36% (16% increase)
• Percentage of low-potential new hires has dropped from 11% to 9.35% (15% decrease)
  
  

Getting a handle on Quality of Hire is easy with Crosschq’s Quality of Hire Scorecard. Just plug in the appropriate score for each of the six questions, then follow the equation through to assign a Quality of Hire score!

Want to learn more about Quality of Hire, its benefits, and how Crosschq can help? Contact us for a demonstration today.