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Like the quality hire rate metric, quality hire of diverse candidates can help you evaluate the efficacy of your hiring process by telling you how effective you are at selecting high performers who can be promoted and who stay with the company. In addition, it allows you to compare the quality of hires between different employee demographics and categories. The quality hire of diverse candidates formula also uses performance ratings, promotion percentage and retention rate as primary performance indicators as follows:
Next Post: January 6, 2014 – Top Diversity Measures and Metrics: Turnover Rate
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Another useful diversity metric is one that helps organizations evaluate the quality of their hiring process. Quality hire rate does this by telling you how effective you are at hiring high performers who can be promoted and who stay with the company. The quality hire formula uses performance ratings, promotion percentage and retention rate as primary performance indicators as follows:
In my last post, I introduced hit rate, which tells you how effective you are at marketing your organization to potential candidates by comparing the number of job offers accepted by candidates to the number of offers extended by your organization. Diversity hit rate uses a similar formula that allows you to compare hit rates between different employee demographics and categories:
Hit rate tells you how effective you are at marketing your organization to potential candidates. It does so by comparing the number of job offers accepted by candidates to the number of offers extended by your organization. Here is a formula you can use to determine hit rate:
Staff diversity percentage is another very simple, yet useful metric that tells you how effective you are at increasing diversity at various organizational levels, divisions and departments. Here is a formula you can use to determine staff diversity percentage within a business unit, at a particular job grade, or for the entire organization:
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AuthorDr. Tyrone A. Holmes is an author, speaker, coach and consultant. He helps his clients develop the skills needed to communicate, resolve conflict, solve problems and improve performance in diverse organizational settings. Archives
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