Analytics as per market leaders and recruiting experts has revolutionized the entire hiring process. As per recruitment leaders, analytics is growing immensely and in coming 10 years it will become an important part of recruitment and HR.
As per Nucleus Research Report, average returns from analytics have been increasing and had a turnover of approximately US$ 13.01 in 2014. As per several market search, around 14% of companies have already developed mature people analytics capabilities.
Recruiting analytics is gaining its pace day by day and for aspiring analytically minded talent acquisition leader, here is a guide on ‘How to start with recruitment analytics’.
1. Start with Business Problems
First commandment of recruiting analytics is “thou shalt start with the business problems”. Figuring out the challenges that are keeping CXO and business leaders awaking at night is the key. Analyze how many of these issues can be solved with the help of recruiting data. Ask right questions and identify those questions to have potential impact over businesses.
2. Quick Wins should be Prime Focus
Getting too ambitious too soon is harmful. Start small and focus on smaller but quicker wins. Does it mean you must not focus on bigger impacts – Answer is NO. You must always focus on bigger goals, but identifying smaller attainable goals to achieve end result is crucial. This approach will also help you secure big analytical budgets.
3. Don’t Be Obsessed With Data
Data processed by the analytics needs to be trusted and when you are able to trust the data, you will be able to address a specific business problem. Data collection, preparation and hygiene needs to be analyzed, processed and recognized.
4. Make IT & Finance Your Friends
When we talk about analytics it is important to get support from finance and IT. It is their experience of obtaining, cleaning and analyzing data that will help you with your recommendations. Combining your recruiting data with business data also provides critical insights required while recommending recruitment analytics software.
5. Storytelling is Vital
Being able to interpret the data and distill it into insights to unlock business problems that you have been trying to address is important and all of this can be done with the help of a compelling story. The quality of data will not matter if you are unable to resonate the same with your business partners.
6. Be Bold
21st century is not about playing safe, it’s about being bold, especially with analytics. You must not be afraid of occasional failures but staying in course is important. At the end, you will succeed more than your failures.
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