Tech & Tools: November/December 2022
IN FOCUS: Embracing data and intelligence analytics
Few business cases today are made, or decisions taken, that aren’t backed by data and intelligence. And both agency and in-house recruiters know that they must be increasingly data-driven in their actions. Moreover, data and intelligence enables recruiters to be more transparent and accountable, which is increasingly important in areas such as diversity & inclusion.
Using data and intelligence effectively isn’t necessarily straightforward though and it relies on getting the right data, at the right time and for the right purpose. While data has proliferated in recent years, many recruiting teams’ ability to make strategic decisions with that data hasn’t kept pace, believes Amit Bhatia, co-founder and CEO of Datapeople, which launched one of the first recruitment analytics platforms in 2015.
He acknowledges that there is the same hunger for analytics and a desire to be informed by data as other business units to act as a true strategic partner, but this is sometimes easier said than done. “For recruiting teams, even getting an accurate answer to questions like ‘How have average applications changed?’ or ‘Where do candidates disproportionately drop-off in our funnel?’ take an enormous amount of time and effort to answer.”
Joseph Buckley, manager, data science at Bullhorn, which acquired data and analytics company Cube19 last year, believes the industry has come a long way towards embracing analytics.
“Agencies have more access than ever to data that can meaningfully impact their business, and it’s the most accessible and user-friendly it’s ever been,” he says, but adds: “The key challenge facing businesses now is converting this grand dataset into business value.”
Deciding what to measure is key to this. When it comes to agency performance, Buckley says much depends on the unique needs of each recruitment business, but all agencies would be well-served by measuring and monitoring gross margin, fill rate and time-to-fill. “Optimising quality metrics and ratios is a far more effective way to increase output than exerting 10% more effort,” he says. “As agencies continue to face talent shortages, we’re seeing many more businesses prioritise redeployment rate.”
Also, he adds, recruiters should recognise the delicate balance between quality and quantity. “There is a lot of complexity within a sales target, and not all interviews are created equal. Overworking a job with an uncommitted client might look good on the stats, but don’t be surprised to find that your neighbour who booked fewer interviews against better qualified jobs, or created more opportunities with each precious candidate, makes more placements by month end. It’s at this point that analytics becomes insight.”
Bhatia says key metrics for teams that use Datapeople include job score (how likely a job is to perform in the market), source performance (what sources are and aren’t producing qualified candidates), and drop-off rates (where candidates are falling off at each stage in the hiring process). “Datapeople also allows users to filter the data to see how different office locations, departments, teams, recruiters, and hiring managers (and more) are performing,” he says.
Toby Culshaw, talent intelligence leader, Amazon Worldwide Stores, and author of the recently published book Talent Intelligence: Use Business and People Data to Drive Organisational Performance, urges recruiters to learn how to position data, both quantitative and qualitative or anecdotal. “Learn how to identify the root cause of the problem and use the data to really frame this,” he advises. “Be clear about whether you are using the data to mitigate the pain of a symptom or to challenge the root cause. Finally ensure you are presenting this to someone who has the power and authority to act upon this information.”
He also recommends recruiters think as “holistically as possible” about data sources from across HR and how they interact with each other: “How is our talent funnel impacted by our external perception? How does that relate to our employee engagement data? How does our promotion velocity translate to attrition and how exposed does that leave us to competitor approaches, and how will we mitigate this if competitors ramp up their hiring?”
Buckley similarly advises recruiters to take a holistic approach and reminds them that good use of analytics goes beyond setting key performance indicators (KPIs) and automatic reporting. “It is crucial to conduct experiments across every stage of the recruitment process and identify opportunities to significantly increase through-put (and satisfaction), including examining client relationships as well as contractor retention.
“During 2020, most recruitment ratios (such as fill rate, interview-to- placement) improved year-on-year for myriad reasons, ie, only the most committed clients were hiring, while fewer jobs meant more attention could be paid to their service. It’s crucial such lessons aren’t forgotten; challenge your clients on slow or non-committal processes, and your recruiters to take a quality lead approach in an industry where high effort is all but guaranteed.”
In brief
Building in digital right-to-work checks
Asynchronous video interview platform provider Willo is incorporating a facility to conduct digital government-approved right-to-work checks into its existing technology. Third-party digital identity service provider systems are often external to a company’s systems while Willo’s authentication system is built in as a step in the asynchronous hiring process.
Willo.video
Assessing newcomers to the world of work
Modern Hire is launching a preconfigured assessment tool aimed at candidates with limited job experience who are embarking on the world of work. The Graduate Virtual Job Tryout (VJT) is an extension of its science-based VJT simulation and text-based assessment technology that measures competencies and likelihood to stay in a role. It is specifically designed for entry-level positions across the globe.
Personalising the employee experience
Employee experience platform LumApps is introducing an “employee data layer” to help understand employee preferences for more personalisation in the workplace. The layer synchronises information from various channels, devices and applications across the business and translates it into a holistic view of each employee, taking the “power of consumer personalisation” and applying it to employee experience.
Identifying an agile mindset
HireVue is unveiling a pre-hire assessment tool that claims to measure a candidate’s agile mindset in just under 30 minutes. It aims to identify candidates with a propensity for faster thinking, efficiency and more flexible ways of working. The questions and games measure: people agility; results agility; mental agility; and change agility. The Agile Mindset Assessment aims to find employees externally and internally who have the talent to move into future upskilled roles.
Fast-track payroll software
Following the acquisition of Australian-based business FastTrack360, The Access Group has launched Access FastTrack360 cloud-based payroll and billing system for recruitment agencies. The system is designed to cater for the complex needs of agencies and can be uniquely configured to a business as well as sit alongside existing Access Pay and Bill software and outsourced solutions. It can connect with major recruitment CRMs and be integrated with candidate and client portals.
Image credit | iStock
