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Companies Focused On Quality Of Hires To Improve Hiring Metrics

The single-most effective parameter to measure the success of a company's hiring process is 'quality of hire'

Photo Credit : Reuters

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Companies are giving major importance to the quality of people being hired and are also investing in various social media channels, employer branding and job boards to improve on hiring metrics, according to a report by Wisdomjobs.com.

According to a survey of 120 companies by online recruitment and career solutions portal Wisdomjobs.com, the single-most effective parameter to measure the success of a company's hiring process is 'quality of hire'.

Wisdomjobs.com surveyed 120 companies across Hyderabad, Delhi, Mumbai, Bengaluru, Chennai, Kolkata and Pune. This survey includes companies from IT, e-commerce, retail, FMCG, real estate, pharma and manufacturing sector.

Firms are using various parameters like the performance of new employees, turnover and retention ratios and satisfaction ratings by hiring managers to quantify the quality of hires.

Ajay Kolla, Founder and CEO, Wisdomjobs.com said, "In the long run, companies need to develop an effective quality of hire measurement based on parameters defined by all organisational stakeholders. From social media engagement to employer branding, companies plan on investing more in the following channels to improve quality of hire.”

Most companies are making conscious efforts to hire quality candidates by opening several channels of engagement with potential hires. Some of the other tools used by companies to improve quality of hire include assessments and background checks.

Companies are increasingly using assessments conducted before interview rounds to identify quality candidates, map their competencies etc, the report said, adding that background checks have long been used by companies to weed out fraudulent candidates.