HireVue announces acquisition of Modern Hire

Learn More

Candidates: Are you interviewing and need support?

Transformative Metrics: Quality of Hire

It’s not enough to measure recruiting outcomes; it’s an expectation of business. To earn a seat at the table, HR and Talent Acquisition professionals need metrics that prove their contribution to the bottom line. Evidence of quality of hire with talent analytics is a mandate for talent acquisition teams. Your measurements must show your contribution and alignment of recruiting to strategic objectives.

Here are a few examples of recruiting functions that document how candidate evaluation methods contributed to operational outcomes through Quality of Hire.

Retail Banking: The Cash Drawer Dilemma

A retail banking organization wanted to deliver a more engaging and consultative client experience supported with technology. Using Modern Hire’s Virtual Job Tryout® technology, they designed a candidate evaluation experience that mimicked client-facing technology and presented a range of simulated interactions.

The results were surprising and informative. Front-line employees who delivered the most engaging client experience were more prone to cash drawer errors. Those more likely to manage cash drawer accuracy provided a less engaging client experience. However, because there was a policy in place to terminate an individual after a certain number of cash errors, the organization was firing employees with the most effective client engagement abilities.

By using the Virtual Job Tryout – a multimethod assessment – the organization was able to balance the results of the candidate evaluation. The scoring algorithm placed importance on both desired traits, advancing candidates with the ability to deliver exceptional service and manage the details of a transaction.

As a result, the talent acquisition team used metrics to transform the hiring process and make a direct impact on operations. New front-line associates delivered better client service, and early turnover was reduced.

Capital Equipment Sales: The One Trick Pony

A capital equipment company’s flagship product accounted for the bulk of overall revenues. They wanted to increase market penetration and sales across their full product line. However, the existing sales team relied heavily on sales from this one product.

A candidate evaluation experience was designed that mirrored a range of territory management and client engagement scenarios.

To build the Virtual Job Tryout, the organization identified performance factors that demonstrated the desired outcomes of the candidate evaluation. They found that account executives who achieved broader market penetration took a more consultative and holistic approach to their clients’ business. As a result, they discovered more needs and opportunities to recommend additional products and services.

The use of a multimethod assessment, the Virtual Job Tryout, allowed this organization to identify candidates with a consultative approach to client engagement and holistic sales approach. The result was hiring new account executives that delivered a 10% higher level of sales from other products and services. The talent acquisition team was able to use transformative metrics and align hiring decisions with operational outcomes.

Hiring decisions are only good if they support business outcomes. Creating multimethod evaluation experiences that mimic the complexity of the job can provide an evidence-based approach to differentiating among your candidates. Also, the data you collect from a robust candidate evaluation can deliver transformative metrics, documenting how your recruiting process contributes to the company’s strategic objectives.