insight | DATA & ANALYTICS
www.thehrdirector.com
hire reaches
& staying power
ONCE, INTUITION RULED, BUT DIGITAL IS A GAME CHANGER AND RAPIDLY, WHERE EMOTIONS WOULD HAVE ONCE BEEN HIT OF MISS, NOW ANALYTICS CAN DETERMINE A GOOD HIRE AND ANTICIPATE A VALUABLE EMPLOYEE EXITING, WITH A GOOD DEAL MORE CALCULATED AND PREDICTIVE CLARITY.
ARTICLE BY MARK HINDS, GLOBAL CEO - POLYMATICA
“We should view candidate and employee data the same way that other businesses view ‘customer data’. Te only difference is that the ‘customers’ are your employees, or prospective ones”
Soft skills are not enough when it comes to dealing with high rates of churn and the difficulty of hiring talented individuals. Despite these soft skills, it has always been hard to understand the actual reasons why a rising star, that was pipped for the C-suite, suddenly ups sticks. More recently of course inroads have been made with tools, such as applicant tracking systems, but these don’t provide the levels of insight needed to help make the right choices for both candidates and businesses. Analytics can play a pivotal role in this process, helping businesses identify the right candidates for the right position. By fully understanding the hiring habits of the business and specific departments, HR teams can identify talent and ensure they stay at the business long term. The data that HR staff and recruitment
professionals hold is a hugely valuable resource, but in many cases, it is information that isn’t being used as much as it could be. Even basic information, such as; who was interviewed, or applied in the last decade isn’t always centrally stored - if it is stored at all - and is frequently hidden in data silos across an organisation. This is a key point, as for data analytics to be effective there needs to be a single source of data which has a good foundation from which analysis can be performed. To get the foundation of high- quality data right, businesses need to think about what data they need, how to obtain it and how it should be formatted and stored. Doing so will save time in the future, as not only will data be in a useable format and in one place, it will ensure there is a strict process in place which sees future data stored properly.
50 | thehrdirector | MAY 2019
Once data is correctly stored and made easily accessible, there’s no reason why businesses can’t make better use of their data. We should view candidate and employee data the same way that other businesses view ‘customer data’. The only difference is that the ‘customers’ are your employees, or prospective ones. Unlocking this data previously relied on data scientists; however the same can be achieved by offering accessible analytics tools that can help data- savvy employees access these insights – opening up analytics to everyone. This ensures that the data can be analysed quickly and that there will be people in place who can ask the right questions of their data and understand the business context behind them. With this data and insight, organisations can tackle and reduce staff turnover and help increase employee retention. Identifying who is most likely to stay long-term at an organisation is often seen as an intuition-based activity, but by analysing candidate information more effectively, HR professionals and recruiters can build a better picture of who might be the right fit. This means looking at data like; skill-set, pay bands, previous experience, and time of commute etc. For instance, someone might not be suited to certain shifts because of a personal situation, which leads them to leave the job. But if this data was captured and made part of the analysis, HR departments could secure a role that fits the candidate’s requirements better and leads to long-term employment. This task might have looked
insurmountable in the past, but with the use of accessible analytics platforms alongside data-
savvy employees in HR teams, organisations can start making insight-driven decisions when it comes to selecting the right candidates for the right roles, which in turn can help increase retention. Using data analysis, recruitment professionals can augment the decisions they make based on experience and skill with concrete data.
There is no reason why HR professionals shouldn’t make use of the same insight that can be gained from their data, much in the same way the retail industry has done with its customer data. But to achieve this, organisations need to invest in centralising data and hiring data professionals or training existing employees to use analytics tools. The short-term costs will lead to long term gains in terms of employees being in the right roles - alongside a better workplace environment that isn’t being adversely impacted by turnover.
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FOR FURTHER INFO
www.polymatica.com
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