Welcome to the fourth edition of our Quality of Hire Fast-Track Blog Series!

Ever made a new hire decision knowing something could be off - but you just wing it anyway and hope it all turns out ok? You probably think what could really go wrong - if they don’t work out, we’ll just hire someone else. As it turns out, quite a lot can go wrong, and the solution isn’t that simple.

The Cost of Ignoring Quality of Hire

The costs of a poor quality hire can be significant. They range from tangible costs tied to lost productivity and churn, to intangible ones like damaged morale across a department or even your entire organization (which also results in financial damage.)

Look at these stats related to poor hiring decisions:

• One in five new hires quits within 45 days of starting a new role¹
• A bad-fit hire can cost as much as a quarter of a million dollars²
• Poor performers stifle innovation, damage morale, and increase burdens on others³
• Low quality hires cost organizations as much as 10x in absenteeism⁴

The Solution: Making QoH a Recruitment Driver

Making Quality of Hire metrics part of your hiring decisioning process can improve QoH across your organization, and prevent the damage done by low-quality or poorly chosen hires. They can also help you identify who in your organization is failing to pull their weight, and causing a burden on their coworkers.

Not all “bad hires” need to go; in some cases, their talents may have been misunderstood and they’ve simply been misassigned. Always evaluate each employee’s Quality of Hire and attributes to make sure you’re not losing top talent through hast firing decisions. 

Getting Started with Quality of Hire

Don’t make your life harder than it needs to be. It’s time to level-up. We’re providing you with some high-impact, action-ready resources so you can immediately start improving your Quality of Hire: 

• Quality of Hire Scorecard: Easily and Quickly Assess QoH 

• Quality of Hire Cheat Sheet: Jump Start Your QoH Initiatives

• 5 Ways to Know if You Are Hiring a Toxic Employee

• Why New Hires Leave: The Importance of Quality of Hire in Recruitment 

• How Internal Referrals for Candidate Sourcing can Tank Quality of Hire

• 6 Tips for Enhancing Recruiter Productivity

Don’t risk everything that can go wrong by ignoring Quality of Hire. Instead, make today the day you start taking QoH seriously, and begin reaping its benefits for your organization.

To learn more about how Crosschq’s Data team can help customize QoH scoring and reporting for your organization, request a free demonstration today. 

Resources:

1. hci.org/blog/why-new-employees-quit
2. https://www.shrm.org/resourcesandtools/hr-topics/employee-relations/pages/cost-of-bad-hires.aspx
3. https://www.shrm.org/resourcesandtools/hr-topics/compensation/pages/toxic-low-performers.aspx
4. https://thriveglobal.com/stories/presenteeism-costs-10x-more-than-absenteeism-how-can-leaders-tackle-this/

Quality of Hire Fast-Track Series: Everything You Need to Know