{"id":3937,"date":"2020-02-26T11:09:42","date_gmt":"2020-02-26T11:09:42","guid":{"rendered":"http:\/\/www.big5assessments.com\/blog\/?p=3937"},"modified":"2022-04-25T11:29:31","modified_gmt":"2022-04-25T10:29:31","slug":"how-is-quality-of-hire-measured","status":"publish","type":"post","link":"https:\/\/www.big5assessments.com\/blog\/quality-of-hire\/how-is-quality-of-hire-measured\/","title":{"rendered":"How is quality of hire measured?"},"content":{"rendered":"\n

Measuring quality of hire can seem daunting at first,\nespecially as it is something so qualitative by nature. With 39% of talent\nleaders acknowledging that quality of hire is the best metric to measure\nsuccessful recruitment, but only 5% feeling that they\u2019re using the best tactics\nto measure it, it is important to take a look at how to calculate this metric.\nBut do not fear, there are a few different ways you could choose to measure\nquality of hire. These will be outlined in this blog post. <\/p>\n\n\n\n

The Measures\u2026<\/h2>\n\n\n\n
\"\"<\/figure><\/div>\n\n\n\n
  1. Performance Reviews.<\/li><\/ol>\n\n\n\n

    These are a great place to start as\nyou gain a lot of in-depth data. If a new hire is performing well, then you can\nassume that they were a quality hire. However, it is not always this simple.\nPerformance reviews are subjective, simply speaking, they are somebody\u2019s\nopinion, so must be taken with a pinch of salt. <\/p>\n\n\n\n

    However, even with the above tips,\nthere is still a lot of bias to purely using performance reviews. For this\nreason, it is suggested that it is combined with other methods.<\/p>\n\n\n\n

    1. Retention Rates.<\/strong><\/li><\/ol>\n\n\n\n

      This is something that gets\ndiscussed a lot in recruitment. Retention rates are a great way to measure the\nquality of hire as the higher the retention rates, the higher quality of hire\nis. Again, this alone cannot be used to measure quality of hire as there are\nmany reasons a hire may choose to stay with, or leave, a company. Try looking\nspecifically at the turnover rates of the top performers, this could give you\nan extra bit of insight.<\/p>\n\n\n\n

      1. Hiring Manager Satisfaction.<\/strong><\/li><\/ol>\n\n\n\n

        This can be easily done through\nsurveys, making it a quick and effective measure of quality of hire. The survey\nsimply needs to include satisfaction with competency and satisfaction with\nperformance measures. <\/p>\n\n\n\n

        1. Employee Lifetime Value.<\/strong><\/li><\/ol>\n\n\n\n

          This is an indicator used to\nevaluate the total net value that an employee brings to your company. This is\nparticularly useful as it is quantitative and therefore easy to evaluate the\nresults. However, this is not something you can do straight away. It can take\nsome time to get the baselines for your company.<\/p>\n\n\n\n

          1. Pre-hire metrics.<\/strong><\/li><\/ol>\n\n\n\n

            This refers to the data you have on\ncandidates prior to them being hired. One of the most effective ways to do this\nis through psychometric testing, such as the ones offered by Big5Assessments.\nData such as their skills, abilities, personalities and competencies can all be\nused to gauge quality of hire.<\/p>\n\n\n\n

            Summary<\/h2>\n\n\n\n

            All of the above information should be taken into account in\norder to effectively and validly measure quality of hire. Using one of the\nabove methods alone will provide some information, yes, but the information is\nlikely to be skewed and therefore not as useful as a combination of the methods.\n<\/p>\n","protected":false},"excerpt":{"rendered":"

            Measuring quality of hire can seem daunting at first, especially as it is something so qualitative by nature. With 39% of talent leaders acknowledging that quality of hire is the best metric to measure successful recruitment, but only 5% feeling that they\u2019re using the best tactics to measure it, it is important to take a […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[87],"tags":[],"class_list":["post-3937","post","type-post","status-publish","format-standard","hentry","category-quality-of-hire"],"_links":{"self":[{"href":"https:\/\/www.big5assessments.com\/blog\/wp-json\/wp\/v2\/posts\/3937"}],"collection":[{"href":"https:\/\/www.big5assessments.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.big5assessments.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.big5assessments.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.big5assessments.com\/blog\/wp-json\/wp\/v2\/comments?post=3937"}],"version-history":[{"count":3,"href":"https:\/\/www.big5assessments.com\/blog\/wp-json\/wp\/v2\/posts\/3937\/revisions"}],"predecessor-version":[{"id":3941,"href":"https:\/\/www.big5assessments.com\/blog\/wp-json\/wp\/v2\/posts\/3937\/revisions\/3941"}],"wp:attachment":[{"href":"https:\/\/www.big5assessments.com\/blog\/wp-json\/wp\/v2\/media?parent=3937"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.big5assessments.com\/blog\/wp-json\/wp\/v2\/categories?post=3937"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.big5assessments.com\/blog\/wp-json\/wp\/v2\/tags?post=3937"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}