#2 Limit the number of inductees
Here's the list of all the inductees from this year's WWE Hall of Fame ceremony: Ivory, The Dudley Boyz, Mark Henry, Hillbilly Jim, Kid Rock, Jarrius Robertson, Jeff Jarrett, and Goldberg.
Let's look at it like this, if WWE would've had their Hall of Fame ceremony, but only inducted Goldberg, The Dudley Boyz, and Mark Henry, would the event be less successful or draw fewer fans? Probably not.
It shows there's no need to induct 8-10 people into the Hall of Fame every year because it takes too long. Keep it at three to four inductees per year, as that would ensure that the event wouldn't drag on too long, and on top of that, we wouldn't have to see people being inducted who don't exactly deserve it.