How big a part does people analytics and data play in your business’ recruitment processes? If it’s not incorporating some elements of the technology, your company could be losing out on attracting top talent.
Recent research by Deloitte Consulting’s Bersin has revealed that people analytics, which it defines as “the use of employee data to help optimize business and management decisions”, is strongly related to better talent acquisition outcomes, as well as an organization’s profitability.
According to Josh Bersin, principal at Deloitte Consulting LLP and founder and editor-in-chief of Bersin, “Organizations that invest in this area are seeing above-average improvements in employee engagement, performance and profitability.”
analyzing successful employees
When you’re looking to bring someone new on board, you’ll typically want them to follow in the footsteps of the more successful established members of the team. This is where data can play a valuable part.
McKinsey has explained how companies can use data points aligned with performance to establish who the top employees are. They can then use this information to construct a profile of the candidates they should be going after.
For example, the best performers in one role might have come through the ranks and been promoted from specific junior positions. When you’re recruiting, you can use this information to target professionals in those roles.
use data to establish engagement
Existing employee engagement levels are a particularly important factor in attracting new talent. The top candidates don’t want to work for companies with low engagement levels, after all. This is why your business should invest in establishing which elements of work employees are particularly engaged with and which they aren’t.
Send out a quarterly survey to gauge levels of engagement and then analyze the data provided to work out what employees are most engaged with. The results can then inform your employer branding, allowing you to focus on the most valuable aspects you offer when recruiting.
You can also make use of emotion tracking apps, which monitor employees’ satisfaction levels and let you tap into the mood of your workforce. Establishing what people are happy - and equally unhappy - about can help you to work out which aspects of your company you should highlight to potential candidates.
reduce unconscious bias with HR tech
Unconscious bias is a problem experienced by most companies and has a critical and “problematic” effect on people’s judgment, says professor at Harvard Business School Francesca Gino. Tackling the issue of bias in recruitment can be challenging, but data sets can provide company leaders with plenty of information on the benefits of a diverse workforce. This can help HR departments to implement strategies to reduce bias - whether that’s automated tracking systems to receive applicants’ resumes or setting diversity goals. It’s vital to remember that unconscious bias in recruitment can reduce the variety of experience brought into a company. If too many employees think and react similarly, a lack of creativity will result, which can then hinder productivity and performance. Ensure your company is recruiting with the issue of diversity in mind and you should see improvements.
Randstad is strongly investing in HR tech through the Randstad Innovation Fund. With RIF, we've made multiple complementary investments in the HR space, we aim to expand our current portfolio from early-stage to expansion-stage, with a focus in: online platforms, big data analytics, machine learning, sourcing, screening and selection tools.