Quality of hire is directly interlinked to the measure of how well a new person meets the performance needs of the job. The performance management process of the job and the candidate involvement is very crucial here.
When should you measure quality of hire?
Try measuring your quality of hire in 3 interval stages mainly: Before, During and After. Based upon this we can know, whether our hiring decisions were accurate or not and is comparable to measuring the hiring quality as per the industry standards.
Compare a candidate’s past accomplishments to what needs to be done on the job across a rating factor scale.
Some of the factors include technical competency, emotional intelligence, and motivation to do the required work. The evaluation is based on asking candidates to provide detailed examples of accomplishments that best relate to the actual performance objectives of that position.
This performance based approach to measure and control quality of hire is possible as it meets a lot of organizational key needs. The biggest advantage is, that it’s not that difficult to implement and can be easily tracked from a process control and feedback standpoint.
So plan out your hiring objectives and go for it.