As recruiters and hiring managers are under substantial pressure to find the right candidates for open positions as quickly as possible in the current competitive job market, they often fail to adequately measure the quality of their hires, both during and after the recruiting process, a recent study released by recruitment platform JazzHR has observed.
The findings of the report, published in December 2019, are based on an analysis of survey data from more than 5,000 of the platform’s small and mid-sized business customers. The survey found that only 64% of respondents currently measure the quality of their hires, while 36% do not. In addition 58% of the businesses surveyed reported that they do not start measuring the quality of a hire until 90 days after the candidate has been recruited, and another 8% indicated that they wait six months before starting to assess the quality of a hire.
The results also showed that when asked about how they measure the quality of a hire, just 20% of the businesses surveyed said that they start measuring this metric as soon as a candidate has been hired using pre-hire metrics, like time-to-hire and assessment scores; while 38% of respondents reported measuring the quality of new hires based exclusively on post-hire metrics, like performance, productivity, and cultural fit. Researchers pointed out that tracking pre-hire metrics provides a fuller picture of each new employee, which employers can then use to adjust how they source and engage top talent starting at the top of the recruiting funnel.
The report also provided recommendations on what companies can do to improve their “Quality of Hire” (QoH) scores. The study defined QoH as the value a new hire adds to the company based on his or her contribution to its long-term success. First, researchers said, employers should define what employee success means to their organization by determining what values and competencies the company’s leadership and team as a whole prioritize. Specifically, they advised, companies should draw up a comprehensive list of employee success criteria, including both pre-hire and post-hire metrics like pre-employment assessments scores, time-to-hire, ramp-up time, and productivity.
Second, the report advised companies to calculate their QoH scores by assigning a value and a weight to each selected criterion based on its importance to the organization. Third, researchers suggested collecting feedback on new employees from managers between two to six months after they start. Fourth, the report recommended that employers track each individual’s QoH scores throughout the employee lifecycle, and use the individual’s scores over time to calculate an overall score.
Looking at the organization as a whole, the report recommended that employers consider how their QoH scores have changed over time, and which external factors might be affecting the hiring process. Researchers also advised companies to consider whether certain departments or teams are scoring higher or lower than others; and, if so, how the company’s recruitment process can be adjusted to standardize QoH across the organization.