Four For Friday: Lessons and Myths For Recruiting Analytics
Is your team thinking about making the leap into the world of recruiting analytics? Doing so, if planned out correctly, can lead to huge improvements. But there are risks involved with this decision as well, especially if you are not fully committed to become a data-driven team.
Luckily, tons of other teams and individuals have already taken the plunge, and you can learn lessons from their adventures (including which HR analytics myths are, simply, just myths). The articles in this week’s Four For Friday explore these lessons and myths in more detail.
Many HR articles have been written about important metrics during the recruiting process, but not many have explored metrics associated with the interviewing phase. This post on the ERE blog dives into 5 metrics that matter for interviewers:
- Screened Candidates to Face-to-Face Interviews
- Face-to-Face Candidates Interviewed to Offers Extended
- Offers Extended to Offers Accepted
- Reasons Offers are Being Accepted
- Reasons Offers are Being Rejected
Check out the blog post to learn more about each metric.
HR analytics: Three myths holding HR back (Personnel Today)
“People data is the lifeblood of the organization. By taking ownership of it and using it effectively via HR analytics activities, HR can build its influence within the organization.” However, many myths end up holding back HR analytics plans. Rupert Morrison, CEO and Co-Founder of Concentra, provides three of the most common myths:
- “Data and technology is scary”
- “Data is too hard to process”
- “More data means more insight”
Learn more about each myth and how HR can overcome them in Rupert’s post on the Personnel Today blog.
Three Hiring Metrics Recruiters Check First (TheLadders)
According to David Snyder, author of “How To Hire a Champion,” a good or bad hire can be determined by three simple measures that can be broken out into the following formula:
Candidate’s competencies + Company’s resources = Company’s business goals
“There are many different ways to examine recruiting ROI and recruiting process,” said Snyder. “You can look at retention, recruiting costs or employee, management and customer satisfaction. But what most people forget is that you can’t put the cart before the horse. The cart is the hiring need, and the horse is the recruiting processes.”
Be Cautious — 8 Lessons For Sound Talent Analytics (Kevin Wheeler)
“Gathering data and analyzing it may present as many problems as it solves. Good analytics requires a deep understanding of the limits, shortfalls, and biases that are most likely to occur. Be cautious. Be thoughtful,” says Kevin Wheeler, President and Founder of Global Learning Resources, Inc. Kevin provides eight requirements to a sound analytics strategy:
- No Magic Bullet
- Know What You Want To Know
- Use The Appropriate Method
- Passive Data May Be Better Than Solicited Data
- A Supportive Culture Is Important
- Focus is King
- Data Is Not Pure
- Keep It Simple
For a more in depth look at each requirement, check out Kevin’s article on the ERE blog.
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