The recruitment process is challenging enough, but using people analytics could help make it easier.
Human resources is responsible for many important parts of a business. From running payroll and benefits to organizing training, to maintaining compliance, HR is a complicated department that handles many behind-the-scenes tasks in order for an organization to be successful. One of HR’s major responsibilities is, of course, the entire hiring process.
Recruitment can be both complicated and tedious. It requires a lot of detail checking and repetitive research before an interview can even be scheduled. Because of this time commitment, it can not only keep HR staff focusing an inordinate amount of their work time on going through recruitment process steps, but it can also be expensive to find the right fit for your business. It takes an average of close to a month to fill a position, and that time without a team member can be costly to your business. While finding the best candidates for your company is certainly worth the investment, certain data-driven programs can help make hiring easier.
If your hiring process needs help, consider implementing people analytics
People analytics help HR teams gather the right data to help HR teams and hiring managers make the best decisions in the future. Not only does employing people analytics in your selection process help to hire better quality candidates, it can help find them faster and even lead to better talent retention.
Here’s how people analytics can benefit hiring at your business.
Increase quality of hire:
People analytics can improve the quality of candidates in several ways. When used to analyze your current workforce and gauge productivity and performance, it’s possible to use the data identified in successful employees and look for similar traits in the resumes, social media profiles, and other information from potential candidates.
People analytics can also help screen resumes with less bias. This can lead to more impartial hiring that is only based on a candidate’s experience, education, and other criteria.
Finally, analytics, when applied to the hiring of people, can help keep businesses competitive in terms of salary and benefits. By analyzing the market for the average salaries of people with similar job titles, responsibilities, and other factors, companies can put together appropriate offers and packages to attract the best candidates.
Efficiency of hiring:
People analytics in hiring helps create more efficiency. Because there is an automatic data gathering element in place, it reduces the need for HR personnel to be involved in the very early stages of screening and can help get qualified candidates through to their desks and through the hiring process faster.
Reduced turnover:
People analytics allows HR groups to analyze the data of the people they have already hired. By looking at performance reviews, employee feedback, and other metrics, they can evaluate current employee satisfaction and efficiency. By understanding the current satisfaction and performance of their workforce, they can make sure they make the appropriate steps to keep their employees happy. Whether this means listening to employee concerns and offering solutions or offering additional training, it’s important to understand the current culture to be able to keep their employees from leaving.
Better cost efficiency:
People analytics also allows for businesses to evaluate hiring cycles and determine if there are patterns to when they need to fill positions. This can help a company understand when they need to ramp up recruitment efforts, place want ads, and dedicate time to handling staff issues – instead of maintaining efforts throughout the year, they can scale up or down as needed and bring down the average cost of hiring.
Using data and analytics is not a substitute for having good hiring processes and experienced recruiters in place. However, when it is added to your company’s overall recruitment policy guidebook, it can be a very useful tool that helps your business grow your workforce in a positive way.
