Erika Duncan, Vice President, Human Resources, MetroHealth
Quality of hire is intrinsically linked to Human Capital Analytics. Measuring and reporting how new hires align to the expectations of a role is the jumping-off point of HCA. When it comes to quality of hire, organizations have more data and analytical tools at their disposal than ever before. A bad hire can cost an organization more than just the initial investment of time and money in recruiting them; loss of productivity, training costs, the negative impact on other employees are some additional reasons why hiring the best candidate is imperative. The benefits that serious data analysis can have on the selection and hiring process, sourcing strategy, and employee performance can greatly reduce the risk of negative outcomes. Organizations frequently use HR metrics, such as turnover rate and cost per hire, that report on trends and at the most, alert to a pattern shift. Taking the next step and measuring quality of hire allows for insight into ROI, time-productivity metrics, the value of reward and retention practices, and creates a foundation to build systems in order to collect, track and trend information across silos.