Yes, we are bias fans of HR software making hiring easier for companies (it’s in our tagline, after all!), but it is worth noting these new findings from a recent survey, conducted by recruiting software review company Software Advice, that shows companies that use HR analytics software outperform those who don’t.
What are HR analytics, again? The broad definition: “applying analytic processes to the human resource department of an organization in the hope of improving employee performance and, therefore, getting a better return on investment.” The easy one: gathering HR data and using it to your advantage, ultimately affecting your bottom line. In the study’s findings, Software Advice points out a few specific ways HR/employee data can be used to make better hires.
Analytics can be helpful in identifying characteristics of successful employees and looking for the same traits in your candidates as indicators of good performance. CareerPlug’s personality assessments, for example, allow hiring managers to choose assessment competencies (such as assertiveness, creativity, and teamwork) tailored for each job posting. Having current employees take these assessments first can be extremely beneficial to making an informed hire.
Good reporting is essential in all aspects of your business, and should definitely be extended to the hiring process. CareerPlug users often use reports to analyze their hiring process by pulling data on how applicants move through their pipeline. This helps managers see where candidates drop off in the process – often identifying where interviewers need coaching or where an additional screening step could be beneficial.
Less than half of companies use analytics to make talent related decisions, despite the fact that 92% of software users reported success in lowering their cost per hire. Do you utilize HR analytics for talent management?
For more hiring and recruiting tips follow us on Twitter @CareerPlug
