Quality of hire metric: how to measure it

December 10, 2008
    

Have you ever asked yourself the following questions:
• How good is my new hire?
• Did I promote the right person?
• Am I good in this new job?

If you are a manager or a recruiter, or more importantly, a member of a new team, then you want and need to know if you are good at what you do.
In business jargon, we call this the quality of hire.
Yet, the core question is: how can you know?

A report conducted by the Newman group posed this question to about 500 staffing professionals, the answers to which resulted in the chart above.

We believe that one metric is missing: the probability of re-hiring an individual. That metric is essentially a net promoting measurement tool for an individual. Think about it for a second: this simple metric (probability of re-hiring) contains it all. If someone is a great contributing team member, you will hire him/her again, if not you will not, with all grading in between. This is what we use at Checkster for our 360 and automated reference checking system. We recommend you add it as a measuring tool to assess your quality of hire, like some of our customers are doing.