Surveys are great, similar to offers & coupons for the less tangible factors such as determining if the candidate had to compete for offers and whether they were a passive or active job seeker at the time of application. Since the quality of a new hire is commonly listed as the most important metric in recruiting, it will also help the organization to focus on profitability. Here are some tangible components you can use to measure the quality of hire output and to identify the organizations quality of the hiring process.
Research shows that an organization that does improve hiring manager satisfaction was threefold more likely to reduce time to hire and twice more likely to improve the quality of hire. Negative experience for the hiring manager satisfaction can trickle down and impact recruiter. It can even affect the candidates and their application process experience.
Turnover disrupts the flow of a functioning workforce. When an employee leaves, there can be a significant knowledge gap to the existing manpower, which leads to more workloads as the remaining team members pick up the pieces. Training new hires will cost time and money, so either way, it’s a no-win situation. It’s critical to maintain a high employee retention rate for your organization to increase productivity and efficiency. There is an enormous reason that could affect low retention rate. One of the most common reason is an inadequate manager. If that’s the case then you should focus on the quality of your hire for the said position.
For most organizations, performance reviews are used to support decisions related to training, career development, compensation, transfers, promotions, and employment termination. Generally, the performance review process includes setting clear and specifying performance expectations for each employee. It also reviews periodic informal and formal feedback about employees’ performance relative to those stated goals. It will identify what areas of improvement and helps in creating a resolution. It’s one whole package that includes using coupon codes on products. The goal has to be specific and it should be clear and precise.