- QHR = PR + PROM + RR/Number of Indicators
- PR = Average Performance Rating Percentage
- PROM = Promotion Percentage
- RR = Retention Rate
- Example: 85% + 25% + 90%/3 = 66.7% Quality Hire Rate
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:
Dr. 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.