What is HR data really all about — metrics? Or INSIGHTS?

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Your Future Is Already At Hand

What if I said that you could predict the future?

No, not by using time travel or a psychic, (as I’m sure the lottery numbers might be more on your mind), but by using insights in your HR data, to predict behaviour, trends and relationships in order to stay one step ahead of the competition.

So with this in mind, why do so many organisations overlook using insight in their recruitment process?

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You Already Have What You Need to Get Started

Research has shown that 86% of companies reported no analytics capabilities in HR, a statistic which to me is absolutely baffling.

You may wonder, “How can I then start using insights to gain an advantage over this 86%?

You’re probably expecting me to say “know your data” and yes that is a key part to the process, but jumping straight into the data is like answering a question before it’s been asked — not to mention hoping your answer overlaps the question.

You’ll be going in blind and although you may still find interesting data that will make you think “wow I never knew that”, it’s unlikely anything of real substance is likely to come from it.

Step 1 – Correctly identify the problem

The first step has to be finding a problem you want solving.

Think about the questions you seem to always be asking yourself…

Do you have a low employee retention rate?

Maybe you want to improve your quality of hire? Or

Are you having trouble knowing where you should be recruiting?

Once you have your question the real power of using analytics can begin.

Step 2 – Build Familiarity

The next step is getting to know your data, search through and find stats that directly affect the question you want answering.

A good starting point is to look at your top, medium and under-performing staff…

Analyse what trends are associated with each segment.

Look into data such as how many jobs have they had?

How many promotions have they received?

And what source they were recruited from?

When collating the data, you will be able to see what makes the most successful employees at your company and the trends that lead employees to be less successful or likely to leave.

Step 3 – Take Action

Once you have these answers, use them.

Start implementing your newly found knowledge to save time and resources in your current recruitment process.

Top performers seem to come from a certain type of advertising?

Then place your resources there!

Employee referrals tend to stay at the company longer?

Place more emphasis on this!

Once you have the data it’s down to you to implement!

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But why should we use it?

So why should you start thinking about implementing predictive insights?

Research shows that 67% of companies rated themselves as weak at using HR data to predict workforce performance and improvement.

Now compare this stat to the 8% that rated themselves as strong.

I know ‘the grass isn’t always greener on the other side’, but what side of the fence would you want to be on?

The side using predictive insights to help reduce costs, improve quality of hire and retention, or the side not progressing and still making the same mistakes.

There is a huge competitive advantage to be gained.

How to Get Started

If you want to learn more around insights and the other elements that we believe are key in creating a winning recruitment process, don’t hesitate to register for our “Key Topic” webinar on 9th June 2016.

Register for our key issue webinar by clicking on this image…

This is repost with permission from Lumesse, originally written by Jordan Howell.

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Garrett O'Brien

CEO, Chairman, Publisher, Editor at The HRIS World Research Group

Garrett is the publisher, editor, writer forThe HRIS World Research Group, which includes The HRIS World, The HRIS World Research, The HRIS World Jobs, The HRIS World News, and The HRIS World Videos

With more than 20 years in roles as a client executive sponsor (#thwCES), project manager as well as functional / technical lead, Garrett is sought for his expertise for project insights, thought leadership, and team management globally.

He has been involved in large-scale and complex implementations since 1991 and has recently moved his operations to be with his wife in Brazil.

Garrett has had the pleasure of working with some of the greatest talents in the industry, and constantly shares his experiences and knowledge through content and webinars.

He maintains his fluency in Portuguese, German, French, and English with his various endeavors and contacts..

When not working, you will have to be adventurous to stay up with him as Garrett loves motorcycling, gunnery, boating, sailing, flying, and sports fishing -- and accompanying his wife on her various likes

About The HRIS World Research Group

The HRIS World blog, which is read by more than 50,000 from more than 160 countries monthly, manages to have more than 550,000 pages viewed monthly. 40%+ of the audience are decision-makers in their organization (and about half of that being C-levels!).

As CEO for CGServices USA Inc, he focuses on multi-provider, multi-line implementations consultation for HRIS systems

Council and Education Member of Gerson Lehrman Group Council, helping institutions of the world leaders meet, engage and manage experts across a wide range of sectors and disciplines.

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