Effective talent acquisition and retention are key factors in the success of any organization, and Betts Recruiting understands this well. By focusing on Quality of Hire (QoH), organizations can improve their hiring process, reduce turnover rates, and increase overall productivity. In this blogpost, we will discuss how to improve QoH and the steps you can take to make your recruiting process more effective.
Defining Quality of Hire Metrics
The first step in improving QoH is to define how you will measure it. You need to determine the metrics that are important to your organization and how you will measure them. A recommended formula is to evaluate a new hire’s performance, satisfaction, and cultural fit within the first six months of employment. This should be done for all hires within the same timeframe. It’s also important to determine the scope of the problem. Is there a specific department or issue that needs to be addressed?
Choosing a Pilot Function to Test Improvements
Once you have determined how you will measure QoH, you need to choose a pilot function to test the improvements. Select a business unit or function that has organizational leadership buy-in, significant hiring volume, and a willingness to improve. Work closely with stakeholders, including department heads, HR, and analytics teams to gather data and ensure everyone is on board with the plan. Betts Recruiting can help you identify the best pilot function for your organization.
Gathering and Analyzing Data
Data is critical for measuring QoH, so gather it from all available sources. This can include interview scorecards, performance reviews, and other metrics that align with your QoH formula. It’s essential to consider potential biases in the data and take steps to mitigate them.
Creating an Action Plan Based on Insights
Once you have gathered and analyzed the data, it’s time to create an action plan based on the insights. This can involve training managers on how to improve the selection process, updating scorecards with data-backed criteria, and other interventions. Ensure that QoH is monitored continuously to ensure the changes are effective.
Rolling Out Improvements Enterprise-Wide
Finally, once you have a successful pilot program, roll out the QoH improvements enterprise-wide. Customization of the formula for each business unit or function may be necessary, but the overall goal should be to create a standard metric for measuring the effectiveness of the hiring process. Reporting on QoH to the C-suite and board can also be helpful for demonstrating the value of these improvements.
Improving Quality of Hire can be a complex and ongoing process, but with the help of Betts Recruiting, organizations can ensure they are hiring top talent that is a good fit for the company culture and is therefore more likely to stay and contribute to the success of the organization. Connect with us to start hiring quality candidates today, contact us here