As recruitment trends predict, talent acquisition professionals will begin to heed the importance of quality of hire over the next 5 years. 88% of them believe that it will have more impact on the business outcome.
That makes sense because it’s more sustainable and strategic in the long run. Not only does it increases overall productivity and revenue generation, but it also avoids the cost of bad hires. That equates to 30% of the employee’s first-year earnings or around a minimum of $240,000 according to HR agencies! That is a huge figure that can be prevented if the ideal candidate is hired.
How do recruiters measure quality-of-hire?
It’s extremely taxing to calculate this recruiting metric because you need to give it several months after the talent is hired. Furthermore, a lot of recruiters argue to define what standards must be set when speaking of “quality.”
A recent study states that employee retention, employee engagement after 6-12 months, and performance ratings are the top three core criteria.
Those, in itself, can be difficult to keep track of, but it doesn’t mean that it’s impossible. With the right tools and technology, quality-of-hire can be augmented easier, faster, and better. Using an applicant tracking system (ATS) is the best way to start as concurred by 78% of recruiters worldwide.
How to get quality hires using ATS
Collect then Select
A powerful ATS such as Manatal can allow you to get a wider reach of talents with just clicks. You can post a job ad automatically across multiple channels and funnel all incoming applications in a centralized platform.
Such a tool will let you exert your effort on other aspects of getting quality hires instead of wasting it by manually posting and receiving resumes separately. This method of collect and select will give you a higher chance of tapping the perfect candidate in no time.
Optimize Screening Process
A fatal flaw that most recruiters do is that they overlook the nitty-gritty part of recruitment in hopes to hire immediately. Don’t rush the process and make sure you go into all details with accuracy and precision.
Manatal has an easy-to-use and customizable pipeline where you have all information (candidates, jobs, users, departments, client information, etc.) compiled on one page. You can track and monitor progress here, which will be helpful in ensuring that no steps are missed.
To add to that, you can also create a free career page using Manatal. Here, you can customize it based on the role sought. That’s a good initiative to get a grasp of the individual’s capabilities when you ask the relevant questions for the job. This saves you an additional step in the interview phase.
Landing page builder tools can also be a good way to convert leads more effectively. It’s an important asset to have for every digital marketing strategy, including in recruitment.
Involve Key Persons Throughout
Always involve the hiring manager, direct supervisor, and other key persons throughout the recruitment process to make sure that everyone is aligned with the talent you will on-board. It must be a unanimous decision to refrain from any potential mistakes.
Team collaboration is very possible with Manatal. This software lets involved parties directly manage applicants using its various functionalities based on assigned roles and permissions. Work efficiently by communicating well via its team chat and integrated emails.
Manatal also has a customizable external view and several email templates where you can quickly share data with clients or internal team members. This perpetuates a seamless delivery of information without letting anything fall off the crack.
Assess using reports and analytics
This is one of the major points wherein ATS can be beneficial in measuring quality-of-hire. As mentioned, it takes months after the employee is hired to determine or calculate anything. Once available, utilizing the analytics can prove valuable in a lot of ways.
Was the employee performance good? How was their engagement? What is the revenue per employee? Those are the questions that can be answered with the proper software like Manatal. Retrieve necessary reports with a single click and carefully study what transpired and make a sound decision moving forward.
It’s also imperative to check factors such as cultural fit, skillset adequacy, turnover rates, and many more.
Quality-of-hire is incredibly notorious to measure. Be sure to have the perfect software like Manatal to assist you in all ways possible. We guarantee that you’ll get quality hires faster than you know it with little to no strenuous efforts yielded.