In the rush to hire, you might not be thinking about how to measure the quality of hire; however, this key performance indicator is a critical way to measure your recruiting and hiring practices. Assessing how your hires work out can hep you figure out the places your recruitment strategy might need work. Bad hires are not only bad for business, they are very common. One Robert Half survey estimated that three in four managers have made one. Bad hires create wasted time, increased frustration and stress, as well as lower productivity. By measuring quality of hire, you can make sure your team is hiring the right candidates who will make a difference in your commercial real estate company.
Quality of hire can seem subjective but there are more objective frames you can use to get at this KPI. Collecting the data below from your existing employees will help you build your metric and knowledge. Once your have the KPI, you can evaluate how well your new employees are performing.
Establishing the ways to measure your quality of hire is a great first step. However, you will need to also think about how to improve it as you move forward. Below are a few ideas of the ways your company can improve its hiring process.
If your firm lacks the time and resources to measure and improve the quality of hire, consider hiring a recruiter like Real Estate Executive Search. Our team has the skills and experience to hire the best candidate for every real estate role. We even provide two guarantees that you will be happy with the quality employees we help you hire.