How Can Organizations Improve the Quality of Hires
Quality of hire signifies the value added by new employees to your organization in the long-term. It indicates the level of success attained by the new hire in the long run. Additionally, it serves as a metric to assess how the recruitment process has fared for the organization.
Industry research indicates how top talent contributes more to the company’s overall productivity.
Top performing employees generate four times the output of an average employee.
Hence, tracking the growth journey of hires by human resources can add significant strategic and financial value to the business. Industry experts seem to concur on the value added by the top talent to businesses. Speaking on the criticality of the quality of new hires to MTEQ, Chelsea Stearns, Associate Director, Talent Acquisition and Employee Engagement says, “If a candidate is not the right fit, he will not have job satisfaction and, in turn, the organization will suffer.” This can increase the voluntary turnover and lower the overall employee engagement, she adds. An article published in a prominent English-daily in India, too, reiterates this challenge. Attrition rates have been the highest in 2018-19, clocking as much as 21-23 percent. It stems from the lack of availability of suitable talent. Thus, gaining timely access to a quality talent pool is becoming an important focus for organizations.
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