When the ultimate objective is to enhance the quality of potential hires, it is critically essential to ensure the key performance criteria to prevent catastrophic hiring mistakes for numerous roles. For this principally, more sets of goals and data-driven approaches are needed to progressively improve & prevent the miscalculations of hiring.
According to Mckinsey & Company, the client realized 40 percent inclination in the quality of hires and a 12-percent declination in first-year attrition after they become more thoughtful and data-driven about hiring, advice given to the National Sales organization that approached Mckinsey with a talent hiring problem.
However, there are three specific steps; a company can adopt that, might ease the process and encourage only the most qualified applicants.
Understanding the ways to capture the right performance:
For many roles, describing and estimating job performances can be incredibly hard as it’s not a congenial task to perform. To acquire and recognize the performance of the candidate, it’s important to capture both the ‘what’s and ‘how’s of performance.
The ‘what’s more formally captures the core technical aspects of a role & ‘how’s defines the trend in which the technical work is executed & done.
For an HR professional, solving issues of employees, designing & executing new hiring activities would be considered as ‘what’ while maintaining a healthy positive environment & effective teamwork would be considered as to ‘how’.
It is essential & equally noteworthy to consider an integrated view of performances that accounts for both ‘what’s and ‘how’s that gives distinguished value to the organization. Let’s undertake a specific case of an HR professional who has an impressive track record of resolving employee relation issues i.e. (what) but could not maintain or fails to generate favourable attitude (how), he might not be the perfect fit for the organization.
The same goes while hiring any employees, it’s important to analyse the what’s & how’s for retaining the best employee on board.
Analysing Right Data Pre-hiring the candidate:
Hiring someone which has the caliber to create an impressive return on investment (ROI) is what any company looks for & searching for right performance data present the big challenge for a specific role as proper recognition of the data is rarely done in the organization but it’s been said that you can’t improve which can’t be find or measure & so the company or the organization.
According to ManpowerGroup, around 72.8% of companies are experiencing difficulties when trying to source skilled candidates, and 45% of employers are concerned about finding employees with the promising talents for particular roles within the organization.
Despite the fact that there’s a considerable numbers of talented job-seekers out there, getting in touch with the most suitable candidates proves to be an exceptional challenge for most of today’s organizations.
Recognizing the performance data & metrics helps organization to achieve the goals in a right track. It’s highly important to measure, track, and analyse individual’s potential level, revenue numbers, production over time on different data sources as any single measure of performance is likely to be inappropriate or false in some way and other.
By doing so, an organisation can improve hiring processes and make better quality hires over time.
Approaches to attain the performance & Assessment Results:
As we all know that in today’s situation & current scenario, things are different from yesterday, and what worked previously may not necessarily work after post COVID. For that reason, to continue tracking & evaluating all new recruitment’s performance side by side is very much important.
assessment results will ensure the criteria that predicted performance last year will continue to predict post-COVID too & if not then the process might restart again from step one.
If we talk about the present crises, today organizations are assessing the results and laying off an employee on the basis of the results only and offering the chance to high performers to work from home.
Adding a third step to the crucial hiring does not only add a deeper understanding of higher performance to the hiring approach but also adds a data and analytics infrastructure that allows for ongoing monitoring and optimization post-hire which is significantly important to keep the close look on employee performance and results.