It is no secret that data analytics can have a revolutionary effect on the processes of talent acquisition. It is game-changing to be able to use qualitative data to make hiring decisions, find areas for improvement, and improve the hiring process – akin to using the internet to find information rather than rely on outdated methods.
And when it comes to the use of data, there seems to be little disagreement over how important it is. In a recent study by The Economist Intelligence Unit, 395 C-level executives were surveyed about their “big data” feelings and 76% of CEOs viewed the idea favourably, responding either “positive” or “very positive” on the topic. However, despite the positivity that CEO’s and other C-level executives feel, there’s a disconnection – less than half (48%) of them feel that big data is a useful tool, and implementation of such a concept is hindered by “a lack of understanding.”
Big data and analytics use are seen as complex but significant
Big data and the use of analytics can influence an organization’s countless areas and give a seemingly limitless insight into a company. But with something so large and powerful in use, it’s a daunting task to get started. And while it’s better to start with some particular areas, this is a catch-22 situation: it’s so big and influential that it’s important to do, but the size and impact keep companies from getting something going because there are so many places to consider.
It’s beneficial to start your data analysis with the hiring process
Starting your hiring process with data analytics is a strong area to start with. A key first step is to use pre-hire assessments to create a natural data flow that is regularly collected and improved on, and then to be able to analyze employee performance and compare it with hiring assessments. Some reasons why starting the hiring process with your data analytics are beneficial include improvements on:
Employee Performance Analytics
By using the data that comes through on job applicants, companies can compare how an employee performed on a hiring assessment to how they perform in the actual position they were hired for, using that performance information to drive hiring assessment improvements that target applicants with personality traits and job skills that are essential for high performance.
Employee Retention Analytics
When employee turnover is a problem, an indicator of the type of candidate that would pose a risk for early-stage attrition may be the ability to look at the employees who left early and uncover common traits and skills from their hiring assessments. If these characteristics and skills are identified, a hiring evaluation may be adjusted to see which candidates possess potential turnover qualities and which candidates will remain committed to the position.
Hiring Process Analytics
By being able to analyze your applicants-turned-employees constantly, you will have a clear understanding of what to look for in potential hires and will continue to grow and develop with accurate data on your recruiting processes.
