Why is Quality of hire important?
It goes without saying that hiring the right people has a positive impact on a company. According to recent research, Quality of hire is one of the top five metrics used to evaluate the success of the hiring process[1]. The data provided using this metric has many different benefits for a company. These will be further explored in this blog post.
The Benefits…
- Quality of hire data allows for the recruitment process to be further optimised. Hiring for quality, rather than just to fill gaps in a company, is the way to ensure future success. With over 95% of companies admitting that they have made bad hiring decisions, it is clear to see why the focus should be placed upon hiring for quality[2]. Using the data gained from looking at the quality of hires can allow a company to see where they went wrong, what they’ve done right and adapt their recruitment accordingly.
- The quality of hire metric enables companies to put their time and effort into what counts. Instead of a lengthy recruitment process, where the hire isn’t a good fit for the company, the onus can be placed on adapting the recruitment process to what works for your company, instead of wasting time using outdated recruitment methods.
- By focusing on the quality of hire, a company can look at long-term goals, rather than focusing on the here and now. Any new hires should have the personality and traits to allow them to benefit the company in multiple capacities into the future, ensuring longevity.
- Other benefits of focusing on quality of hire data, as a result of better hiring decisions being made, include; time and money savings, better workplace morale and increased productivity. These benefits are as a result of using quality of hire data to improve the hiring process. Remember, merely studying the data alone will have no impact.
Summary
Quality of hire is now one of the key metrics used to evaluate the efficiency of the recruitment process and with good reason. The focus of recruitment should always be on finding quality hires that are right for your company.
Hiring the wrong people can be costly and time consuming, not to mention the impact on workplace morale and productivity. By using data provided through the focus on the quality of hires to adapt the recruitment process, you will reap the rewards for your business. Using psychometric testing such as those offered by Big5Assessments, you are far more likely to find the perfect hire.
[1] https://cammio.com/blog/measuring-recruitment-performance-quality-hire-nr-1-metric/
[2] https://cammio.com/blog/measuring-recruitment-performance-quality-hire-nr-1-metric/
About the Author: nikkyvb
Nikky van Bommel is the Marketing Director for Big 5 Assessments and has worked in the Psychometric Testing industry for over 10 years. Nikky is responsible for all marketing and social media for the organisation.