how on earth can you measure it?

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Quality of hire is how good the people you hire are. You can take this metric through a lot of paces, but most would agree that it starts with sourcing and can move through employer brand, recruiting, interviewing, and even onboarding. Your quality of hire metric basically shows how good the people are who come into the organization and then, how long they stay. If the measurement of a great organization is its talent, then this would be the metric by which they live and die.

But Lou Adler has done some incredible work on this, as well as the folks at ClearCompany. Some insight on pre-hire metrics to help you assess your quality of hire (yes, metrics in metrics … very meta):

Candidates per hire: This metric represents how many job candidates a hiring manager sees before a hire is made. Adler explains, “If the number of candidates seen before one is hired varies widely or is too high, it indicates your entire hiring process is out of control.”
Passive candidate conversion rate: This metric is made up of several smaller metrics that track from end-to-end contact with a passive candidate from first-response contact to prospect-conversion rates.
Referrals per call: Employee referrals are the most effective sourcing channel and increase the chances of successful job matching from 2.6 to 6.6 percent, according to research done by Glassdoor, which is why they are also netherlands phone number library significant in measuring pre-hire quality.
Email conversion rates: Making sure email content is compelling, specific, and to-the-point can significantly impact conversion rates. Recruiters should aim for response rates that are 50 percent or higher.
Of course, once you get them in the door, there are a whole lot of other metrics that will ultimately feed into your quality of hire score .

Find out what your old hires think of your new hires and vice versa. If you aren’t surveying or taking the pulse of your organization, you’ll never know if they fit in, are killing it, or just wasting space … until they are let go or quit!

Use simple surveys to ask your hiring managers! Dr. John Sullivan (DrJohnSullivan) explains, “Ask them at time of hire, at six months, and at 12 months, to simply rate each new hire on a 1–10 performance scale, where five is the average on-the-job performance for a new hire in their job family and 10 is an exceptional performer.” Add those numbers together and you’ve got yourself an indicative average.

How much are you making per person? This metric helps companies keep track of the revenue that is created or lost in proportion to the number of employees in an organization. Revenue per employee is also useful when assessing other metrics like turnover costs and cost-to-hire.

Metric #3 — Hiring Experience
Our friends over at Lighthouse Advisory wrote a great post on candidate experience and hiring experience and which things you should measure if you want an accurate picture of what’s going on over there. While some of these things will seem familiar, there may be one or two you didn’t think of before:

Mobile Readiness: Can you apply via mobile? Does it save your information? Do you think anyone will pinch and zoom their way through a five-page application only to have it error out 43 minutes later? They won’t.
Pre-Candidate Experience: I had not heard this term, but it’s good. What is the experience with your company before they hit the apply page or site? Keep in mind that candidates are headed to Yelp, Glassdoor, Facebook, and Instagram to get a sense of who you are and what you stand for. If they don’t like what they see … well.