Measure Your New Hire’s ROI in These 4 Ways!

Client Resources | June 19th, 2019

When a company has to replace employees regularly, it can have a serious negative impact on your bottom line.

Fortunately, employers can lower turnover and save many thousands of dollars in the process by regularly hiring candidates who become very productive long-term employees.

To maximize the return on hiring investments, it helps to identify what a high-quality hire looks like. This will allow you to have a series of metrics assessing hires moving forward, and improving the hiring process. Below are four broad factors when assessing new hires.

1) Cultural Fit and Attitude

When workers don’t fit into a company culture, they don’t reach their potential. Conversely, if a new hire’s priorities and work habits match the overall culture of a company, they are much more prone to success with the business for a long time.

To assess cultural fit of employees, begin by listing of your company’s stated values. Then, identify all the traits common to your most successful staff members. This ‘master list’ can then be used in your candidate screening and new hire assessment processes.

It is also important to consider applicants’ attitudes toward the job, your company and their career. Even if a candidate is the right culture fit, they may not work out if they don’t have the right attitude.

2) Contribution

Every company needs staff members who will help the company achieve its goals. If a worker is making considerable contributions, they have high value as an employee. However, if a staff member does not do good work or regularly fails to get work done on time, they are not offering enough value.

While new hires tend to struggle at first, the best hires will show progress toward making major contributions.

3) Engagement With Their Job

Engaged employees are highly invested in their job, and by extension, their career. They are more likely to volunteer for extra work, learn outside the office and take satisfaction in their work.

Furthermore, engaged staff members are much less prone to leaving, being terminated or otherwise, than disengaged workers. They also tend to do better work. Basically, engaged employees are high-quality hires.

For each position in your company, define what it looks like to be properly engaged. Then, when screening applicants, you can evaluate them based on the characteristics you have identified for each role.

4) Work Habits

Work styles and habits play a massive role in how effective your staff members are. If one of your staff members is often unorganized and behind schedule, they probably won’t offer much value. They will likely make more errors than they should, which also means less work gets completed over time.

Just as you did with respect to engagement, consider what work habits they should have to flourish in each position at your company. Don’t forget the hard and soft skills related to various effective work habits.

Let Us Connect Your Company to High-Quality Hires

At ZDA, we pride ourselves on connecting our clients to the talent they need to succeed. Please contact us today to find out how we can support your company’s success.

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