About 43% of job openings are filled within the first 30 days, according to a report from Indeed and the Centre for Economic and Business Research (CEBR). And the 57% of job openings that aren’t filled during that first month will likely remain unfilled for three months or more so there is a strong incentive to get a new hire in quickly.
However, even with the best possible recruitment marketing systems in place (all designed to bring you the best talent possible) and all the pre-interview and in-person interviews you run your candidate through, there is no way to really know if someone is the right hire for the job until they get in there and start working. In order to ensure you are evaluating quality of hire, many companies have a 30-90 day grace period in which either the company or the employee can decide it's not a good fit and walk away. But how do you really know? There is bound to be a learning curve that could affect their productivity, so how do you ensure that someone is a good fit in a relatively short amount of time?
Here are 3 ways you can evaluate the quality of your new hire:
The easiest way to evaluate the quality of your new hire is simply to ask the person they report directly to for an evaluation. If you wanted to make it very formal you could create a rubric based on the requirements of that particular job and ensure that after your trial period they are hitting a minimum level of acceptance. Are they meeting imposed deadlines? Are they making the same mistakes on day 90 as they did on day 1? Do they seem to be fitting in well with the existing team? Are they taking on extra work not required of the position? Did they recognize and solve a pain-point the team had been struggling with? If their direct manager is having serious issues than perhaps this new hire isn't the best fit, even if on paper they look like they should be perfect. Remember, finding and keeping a great new hire is as much about finding the right person for the job as it is finding the right resume.
Individual Performance Metrics
Depending on the position they have been hired for, there might be very specific individual performance metrics you can use to measure the quality of your new hire. For instance, how many deals did your new sales representative close in their first three months? How does that number compare to your seasoned representatives in their first three months? If you are trying to gauge the effectiveness of your new developer, how long does it take them to update code (accurately) compared to their teammates? Did their manager give them 6 weeks to finish a project and they got it done in 4? If it took 9 weeks, what held them up? Understand that a new hire needs time to sink into the routine of your company (especially if they are learning something new), but you should see some kind of marked progress when looking at day 90 compared to day 1.
Sometimes managers don't interact directly with their new hires on a day-to-day basis; they instead see the finished product and don't always know who did exactly what. So another great way to measure the effectiveness of your new hire is to talk to their colleagues. Is that new hire pulling their weight? Even if they are still learning, are they picking up on what needs to be done with less and less hand-holding? Are they a boon or a burden to the existing team? If that position has been empty for a few months then your team learned how to survive, even if it was just treading water, without that new hire. If that new hire isn't making their lives easier then what are they doing there?! Chances are their co-workers are going to be brutally honest about the value of a new hire because they know it's their day that gets hit the hardest when someone isn't a good fit.
Yes, finding great talent isn't always easy. Even with a great recruitment marketing system in place in can take a while to nurture a passive candidate into an actual applicant and then take it all the way to a new hire. But once that new hire is in the door it doesn't mean your job is done. It's imperative that every talent acquisition team follow up with the new hires to ensure the right person really did make it through the door.