Using Talent Analytics to Inform the Hiring Process
Using talent analytics, a systematic analysis of workforce data, to inform your hiring process reduces costs. Talent analytics help to make the hiring process more effective and efficient, improves the quality of the hire, and reduces turnover.
The first step to improving your hiring process is to identify the current skills in the organization. An organizational survey can analyze the behaviors, attitudes, personality traits, and values of the workforce. Additionally, individual surveys can be used for leadership or specific departments.
The second step is to validate the data and identify gaps. Also, other data sources such as technical skills gaps should be considered. When making hiring decisions, it is important to understand what skills are needed to be profitable and look at the whole picture. Some positions can be filled from within, while others may need to be hired from outside of the company.
The third step is to set up metrics to measure hiring benchmarks. For example, it may be helpful to measure the application completion rate. If candidates begin the application but do not complete it and it seems to be a trend, it indicates a flaw with the application or process. It might be a good idea to have an initial screening of resumes and cover letters in place. If the resume and cover letter match the job description, the candidate moves to the next phase of the process. If not, the process ends. Collecting this kind of data helps to optimize the hiring process and select the best candidate for the position.
The fourth step is to develop compelling job descriptions. Language from the organizational survey gap analysis should be integrated into the job description, which should clearly define the technical skills, 21st-century skills, values, and responsibilities you are trying to acquire in a new hire.
The fifth step is to use the data to develop an objective, unbiased, structured interview process. Perhaps this begins with the candidate taking an individual survey to assess their attitude, behaviors, and values. It could also include a technical assessment or evidence of skills certification. Be sure that the interview questions and assessment of questions include the language from the job description so the best possible match can be found.
The sixth and final step is to write a winning job offer. It is time and money spent to go through the entire hiring process and offer a compensation package that is not fair and equitable. Research competitive salaries and benefits on sites such as www.payscale.com to determine a fair and competitive package. Employees are a business’s major asset. It is important to value employees for better retention.