Talent Acquisition is no stranger to data and metrics and the most progressive of leaders in this space are taking advantage of the wave of workforce analytics to get results—for their organizations and for themselves. While the past was focused on using analytics primarily to monitor the efficiency of the recruitment process, Talent Acquisition is now involving itself in measuring the effectiveness of its efforts. Connecting the activities of Talent Acquisition to business outcomes is something every Talent Acquisition leader should be working towards.
However, the path forward is not always clear. Many Talent Acquisition groups suffer an inability to make the best use of the data they have. This is a common problem, and one shared by those in HR departments everywhere. In fact, we call it the universal problem. This happens when, despite an abundance of data, there are challenges bringing it together, making connections across systems, and using the information and insight to drive better business outcomes. Because the data sits in different systems it is time-consuming and difficult to integrate. It can be error-ridden and open to challenges from the executive leadership.
In addition, the time required to monitor, manage and pull together the data for reporting purposes means there is little time left for meaningful interpretation of the data or insight into trends. For Talent Acquisition this typically nets out in flat reports filled with data pulled from Applicant Tracking Systems (ATS) and focused on process and efficiency (open requisitions, time to fill, etc.). These types of metrics tend to have low impact in the organization because they focus on process, time and money and are not directed towards what the executives care about—business outcomes.
To achieve higher value for your executives, you must integrate your ATS data with other data sources like your Human Resources Information System (HRIS) and beyond.
This enables more complex connections that matter to the business—like connecting recruitment data to First Year Outcomes, including Performance, Quality of Hire, Turnover, Exit Interviews and more.
Organizations connecting the traditional Attract and Source recruitment metrics to First Year Outcomes talk enthusiastically about these positive outcomes:
- Saving time, effort and frustration (no more weeds of excel)
- Raising the profile of talent acquisition within the organization
- Accessing and interacting with the data (through many filters, data dimension and easy to use slice and dice capability)
- Making connections between talent acquisition, HR and the business-at-large
- Engaging talent acquisition team members in reporting and accountability
- Producing accurate, reliable, consistent and attractive reports/engaging the executive team
Talent Acquisition has a lot to gain from workforce analytics and it’s not just in the areas of insight and better business outcomes. By leveraging analytics and insight, Talent Acquisition professionals also stand to gain visibility, credibility, and influence across the organization. We will even argue that analytics and the insight that comes from analytics can have more impact on your overall success than anything else you might do in Talent Acquisition!
To hear how Talent Acquisition executives are using analytics to gain credibility at the executive table and drive better business outcomes, click here.
It’s your workforce data. You should use it.
John Pensom, CEO
QuIRC, a Canadian company delivering cloud-based workforce and business analytics through their insight-as-a-service offering called PeopleInsight