The future of HR is changing. Like the rest of the business world, HRs and their teams are beginning to realize that they need to focus on building a quality analytics capability to prepare for the data-driven world.
However, data on some important variables can often be incomplete. Some of them could be significant in predicting outputs. This is why organizations have to continuously focus on data quality improvement.
Over the last years, we have also seen an increase in the number of companies that collect data about employees in unconventional ways, including social media activity, email and text frequency, and mood recognition. Organizations are trying to understand employee behavior through these examples, and some of them will be useful for models that will be able to predict the quality of hire or flight risk.
Organizations now have to worry about data quality at all levels, along with anonymity and privacy policies, and carefully implement these practices to protect employee data from abuse.
These analyses are only as good as the quality of data fed into software and tools. Working with timely, consistent, and accurate data is crucial to all analytics practices. Educate your HRs and implement data governance programs to maintain and clean data consistency and accuracy across operational data stores.
HR Data You Can Get From a Recruitment Platform
By measuring recruitment data, you can understand how successful your hiring strategy is or how you can improve it. Here are the metrics:
- Which sourcing channel is the best?
Recruiters today look at different channels when getting contact data, from email campaigns to social media and various job boards. It is vital to know exactly which of these channels are working. This HR metric tries to identify the channel that makes the most important contribution to your hiring plan.
- Metrics That Show the Employee Experience Quality
Employee experience is a sum of many variables. By improving the employee experience, you can be sure that your top talent stays in the company and even becomes your brand advocate.
A set of HR metrics, together with predictive capabilities, can help you optimize your existing workforce and find fresh talent. Data-driven recruitment is vital for attracting and maintaining the right talent needed to meet your business goals.
- Quantity and quality
Although companies say that they are strategic in talent analytics, they often have little or poorly collected data. Any analysis of such data can lead to poor results and poor business decisions.
However, the data shows that employees hired via contact data and employee referrals were more productive and less likely to turn over. How long they stayed and whether they continued to be productive afterward depended on post-hire factors. If the employee who referred them helped to mentor and train them, that would result in better productivity and reduced turnover.
Companies are investing in programs that use data for all aspects of talent management, workforce planning, and operational improvement. They also actively use external data and social networks to understand retention, attrition, and other performance metrics.