Recent survey on quality of hire mentioned that over 39% of talent leaders agree that quality of hire is the single most valuable metric to evaluate their team’s performance. According to LinkedIn’s Global Recruiting Trends Report (2016), quality of hire ranks as the most valuable performance KPI. However , only 33% of companies feel like they’re using strong tactics to measure quality of hire, and only 5% believe their tactics are “best in class”. 50% of companies currently rely on performance reviews to measure quality of hire. Retention is another widely used metric to measure quality of hire – 49% of talent leaders use it when trying to gauge new hire quality.
50% of companies currently rely on performance reviews to measure quality of hire. It’s the most frequently used method. 49% of talent leaders use retention metric to measure quality of hire. Hiring manager satisfaction is used by 43% of organizations to measure quality of hire.
What quality measure(s) do you track?
● Retention of new hires-82%
● Hiring manager feedback-74%
● Employee performance appraisal ratings-63%
● Employee productivity-34%
● Promotion speed of new hires-18%
● Revenue per employee-14%
55 percent of HR practitioners either use or plan to use an electronic chain-of-custody process, which eliminates paper forms from the drug-testing process (8 percent) and saliva (7 percent). 65 percent of respondents have global screening policies. 81 percent of contingent, contract and temporary workers are subjected to screening. After delays in the hiring process, the most frustrating issues for HR when screening candidates are verifying information (32 percent) and getting quality information (24 percent). Forty-three percent of respondents said that reducing delays in the hiring process is their top screening challenge
Quality of hire is a priority for 40% of big companies worldwide (and 45% of small businesses). Many companies focus on building a fast and cost-effective recruiting process. New hire performance metrics are used by 51% of companies. They are the most popular way of measuring quality of hire. Performance metrics include any kind of measurements that indicate a new hire adds value, like meeting X sales quota, delivering Y number of product units or achieving Z customer satisfaction ratings.