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 reqs, 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.
Adam Cooper, LoyaltyOne’s Associate Director of Talent Acquisition provides a great example of a progressive leader who is working to get more from his data. He’s been on an aggressive course within his organization to make meaningful connections between his group, their activities, the data, and business outcomes.
However, in the not so distant past, Adam struggled with an ATS that wasn't exactly world-class and HRIS reporting that didn't align with his needs. To address this, Adam started using a talent acquisition-specific workforce analytics solution (PeopleInsight) to evolve the insight and reporting capabilities of his group. In a few short months, PeopleInsight has helped Adam focus on what was available, cut through the distractions of bad data and inaccurate reports, and rebuild metrics that aligned to his vision.
As a start Adam began by using PeopleInsight to seamlessly integrate HRIS and ATS data. Even with this first step, communication of core data to the executive leadership was immediately improved. By taking advantage of simple yet eye-catching visualizations, the executives became engaged and involved and began asking questions.
From here, Adam is now making more complex connections that matter to the business – he is connecting recruitment data to First Year Outcomes, including Performance, Quality of Hire, Turnover, Exit Interviews and more. With access to updated data and interactive dashboards, Adam is able to see things he couldn’t before:
“Within hours of using PeopleInsight we were able to see where our highest quality hires were coming from, and it wasn’t what we’d originally thought. The analytics and understanding that comes from them has important implications for the business and is helping to set direction for both our Recruitment and Talent Management efforts.”
By focusing on robust, integrated and holistic analytics that matter, Adam and his team have access to accurate data, have engaged the executive, and have started to capture attention within the organization.
“Equipped with meaningful insight into recruitment and first year outcomes, our talent acquisition group has become better advisors to the business. Very quickly we’ve grown our credibility and gained influence.”
Like Adam, clients who are using workforce analytics to gain more insight into the activities and impacts of Talent Acquisition, talk enthusiastically about these positive outcomes:
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 see how Adam and other leaders in talent and HR are using workforce analytics to drive better business outcomes, click here.