Learn about Crosschq QoH with this short introduction.
What is QoH?
Quality of Hire (QoH) measures the value that new hires bring to an organization. It is used to evaluate how much a new hire contributes to the organization’s long-term success. Employers who actively measure Quality of Hire are able to make better hiring decisions and impact their company’s ability to realize its business goals.
It allows HR to focus their hiring efforts and resources on candidates that will bring the most value to their company in the long term and allows hiring managers to set new hires up for success.
Among many others, QoH can be used to answer questions such as:
- How effective is my recruiting process and hiring team at identifying and selecting the right talent?
- What key characteristics and skills uncovered in the pre-hire process are most highly correlated with top performance?
- What was the quantitative impact of a hiring process change or new onboarding structure on new hires' time to ramp?
How does Crosschq calculate QoH?
Within the Crosschq Insights platform, QoH is calculated as retention-weighted performance over the new hire period. What this means is that QoH is a function of both performance and retention. This is why you see performance and retention broken out into different tabs within the app - to allow you to get both a holistic insight into high-level QoH, and be able to dig deeper into the underlying inputs of performance and retention to understand how each is impacting QoH.
Something else to note is that this metric is flexible and capable of measuring QoH for both individual employees as well as calculating larger cohorts. QoH is also extensible, capable of adjusting to a variety of organizational needs such as new hire period and baseline retention probability. Different organizations will tend to measure performance differently or establish different thresholds for what they consider to be a new hire period (3, 6, 12 months).
Therefore, it is important to understand QoH in the context of the organization we are analyzing.