One employee has the power to singlehandedly impact company culture, whether it’s positively or negatively. A quality hire not only possesses the necessary skills, but can also demonstrate company values and increase productivity, collaboration, creativity, and community. An employee who does not align has the power to do the opposite.
Measure Quality of Hire
You cannot improve what you do not measure. Data driven recruiting helps ensure you are using the most effective recruitment strategies in the most cost effective way for your business. There are tracking metrics you can put in place to measure the quality of hire before and after each candidate is placed.
According to LinkedIn’s Global Recruiting Trends 2016 Report, quality of hire continues to be the most valuable performance KPI. 50% of talent leaders measure quality of hire through new performance retention, 49% measure quality of hire through turnover or retention statistics and 43% measure quality of hire through hiring manager satisfaction.
Understand Company Culture
The people that make up your business shape the culture of your business. There’s no magic formula for great company culture, but the most successful companies foster cultures that allow their employees to thrive and grow.
Culture is a company works. Cold brew coffee on tap and free t-shirts are fantastic, but offerings like career development advice, praise for going the extra mile, outlets and rewards for creativity and a supportive community are what culture is all about. And your company purpose and values align with culture and shape it. Investing in culture directly leads to increasing quality of hire because companies craft a place that attracts top talent. Referrals increase because high quality employees draw in their high quality networks.
Prioritize Employer Brand
Investing in employer brand also pays off. LinkedIn reports 62% of organizations place employer brand as a top priority. The talent acquisition community is realizing that positioning is crucial when it comes to social presence, online professional networks and company websites. Producing strategic messaging attracts quality hires. Similar to culture, employer brand is about making a company a place people want to work.
Quality of hire is impacted by culture and employer brand. Strategic positioning, providing opportunities to grow, offering a creative environment, and giving rewards for hard work and creativity are a few of the factors which lead to attracting and retaining top talent.
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