Quality of Hire formula

If you were to deduce a formula for calculating how well your organization is hiring overall, it would look something like this:

Quality of Hire = (PR + HP + HR) / N
PR = Average job performance rating of new hires
HP = % of new hires reaching acceptable productivity with acceptable time frame
HR = % of new hires retained after one year
N = number of indicators

Example:
PR = Average 3.5 on a 5.0 scale = 70%
HP = Of 100 hires made one year ago, 75 are meeting acceptable productivity levels = 75%
HR = 20% turnover = 80% HR
N = 3
Quality of Hire = (70 + 75 + 80) / 3 = 75

Seek to Understand

You cannot figure out where to take an organization if you do not understand where it has been and how it got to where it is.