Knowledge is power — and big data empowers your HR team to make strategic, ever-evolving decisions. Take it from our recruiting experts: big data can be leveraged to generate insights at every stage of your human capital strategy, from sourcing and onboarding to the full employee lifecycle.
This includes decisions related to:
To gather meaningful data, you must utilize software that is capable of gathering cross-channel and inter-department data points. Once gathered, the data can be compiled into a variety of reports to generate meaningful, actionable insights that your executive team will rally behind.
Assessing the channel performance of your recruitment marketing? Casting a wide net and expanding recruitment channels must always be a priority, but some channels deliver better results than others. For example, some job boards may be more effective for identifying executive candidates or candidates with specialty skill sets. Look at big data to track key metrics in your recruitment marketing, such as how long it takes to source and hire, ROI of job ad postings, calculations for jobseeker touchpoints, and the quality of candidates once hired.
Data can deliver individual, department-wide, and organization-wide skill and productivity insights. This helps you improve initial and recurrent training and provides individual teams and employees with personalized outreach and resources. Furthermore, initial training plays a vital role in ensuring new hires feel engaged and prepared for success, which in turn impacts productivity and retention. Analyzing new hire performance and post-recurrent training data helps you measure how successful your training programs are.
Even with an exit interview, employees may not feel confident sharing the precise reasons why they are leaving. And if they are confident in sharing why they are moving on, there may be also unconscious contributing factors. Mine your data in search of trends that influence retention — beyond what’s shared in your exit interviews.
Tracking and analyzing a wider range of employee performance metrics is helpful in identifying performance concerns before they spiral. It also helps you “catch” people doing things right and reward their positive behavior!
Big data metrics can help you improve your:
Big data can identify trends related to employee health and wellness. This benefit intersects with workforce forecasting and planning, as it encourages a proactive approach to minimize the HR and operational strain of planned and unplanned time off.
For example, you can determine which months accrue the most sick days and plan accordingly. This might include providing wellness resources and increasing staffing levels with seasonal and temporary employment.
Data can also provide insights into the conditions that precede your most common absenteeism factors, then reduce risks by following up with a proactive approach.
A proactive approach is the best approach, so your HR team must always be future thinking. Big data can help you identify recurring trends so that you can forecast and plan promotions, hiring needs, and talent pipeline. It will also help you to identify new and evolving trends so that you can adapt to changing conditions without delay.
Human capital and hiring tactics are at the core of any data-driven HR strategy. Instant access to recruitment-related big data that can be mined for transformative insights is an additional benefit of selecting IsoTalent as your recruitment and hiring partner.