In our experience, quality of hire is dependent upon the recruiting and hiring process. In simple terms, the more candidates you can generate for an open position, the more selective you can be. Being more selective means that your new hires are more productive and stay longer. Quality of hire improves.
Business leaders looking to improve quality of hire should consider how their recruiting and hiring processes are organized. Transforming these processes can help your organization achieve its hiring goals in the following ways:
Provide agility in responding to hiring supply and demand
Be adaptable to changing market conditions
Drive alignment of all stakeholders in the hiring process
Drive efficiency into the hiring process through planning and careful metric monitoring
Drive effectiveness through relentless process execution
Drive financial impact which benefits the business
Implementing these changes can deliver significant financial gain. The chart below shows results at one utility organization was able to reorganize its recruiting process to drive more candidates to the top of the funnel. As a result, hiring managers could be more selective. The results, measured by looking at the performance of employees in their customer service group responsible for collecting on delinquent accounts, shows a 30% improvement in dollars collected per hour.