How On-Demand Analytics Helps Turn Talent Data into Insights
Read our blog to learn how the right on-demand analytics helps optimize hiring efforts and plan future programs more efficiently.
The pandemic and digitalization have changed the face of talent acquisition forever. The concept of hiring for merely filling a position is no longer viable in the post-pandemic business landscape. As the competition in the talent market is heating up, the price of talent acquisition is also increasing as hiring top talent became more difficult and expensive. On top of that, 58% of hiring managers reported in Aptitude Research that they do not have the needed talent data to make hiring decisions; only 12% of organizations use talent data effectively to make decisions, and only 4%1 of HR functions have an ongoing dialogue about data transparency and analytic insights to drive business decisions. This means that organizations need to think harder on how to make their talent processes to be more competitive and most importantly, yield valuable and actionable people insights.
So how can you improve the decision process so you can gain accurate talent data and maximize it to win the war for talent? The answer is by using the right on-demand analytics. Read further to find out how you can use it to optimize your hiring efforts, measure the impact of any previous hiring programs, and plan for future programs more efficiently.
Why on-demand analytics?
First, there are three key things that you need to process data, and in this case talent data:
- Real-time data
- Easy access
- Pre-built dashboards
Using on-demand analytics that provides accessible real-time data and easy-to-read data stories only when companies need to will not only saves hiring managers time and costs but also help to deliver engaging and effective assessment programs.
SHL recently launched Client Analytics which can help you track Key Performance Indicators (KPIs) related to your Talent Acquisition programs, such as candidate volume, completion time, dropout rate, pass rate, score distribution, and device usage.
Available via our TalentCentral platform, this new on-demand analytics module offers:
- Real-time data, which means you can track the performance of your assessment programs in real-time and view assessment data easily and timely.
- Easy and secure access, with cloud-based dashboards that can be quickly and safely accessed through SHL’s TalentCentral system.
- Intuitive and easy-to-use dashboards that you can use to visualize trends and identify opportunities and/ or rooms for improvements not only for now but also for the future.
58% of hiring managers do not have the needed talent data to make a hiring decision.
The benefits of on-demand analytics to hiring managers
In a broader perspective, the right on-demand analytics, such as SHL’s Client Analytics, helps you to:
- Gain a better understanding of candidates’ journey
With SHL’s Client Analytics, you can actively monitor your hiring programs with automated, real-time insights on candidate assessment journeys that can be used to improve candidate experience in future assessment programs. As we all know, candidate experience is key in the talent acquisition process.
- Have a more effective and efficient way of hiring
As the performance data is available via dashboards and can be accessed whenever any hiring managers need it, you can save up time so you can work more swiftly, effectively, and efficiently.
- Put the recruiting team in control
The dashboards available in the analytics module provide hiring managers insights about past and ongoing recruitment programs. These insights can be used to take learnings and design future programs more effectively.
- Get support from the experts
Finally, on-demand analytics is nothing without a team of experts as a support system. With the unrivaled expertise of SHL's global team behind your hiring managers, you will have the utmost support to run highly-effective, data-driven hiring programs!
The need to optimize talent processes is more critical than ever, especially in the turbulent business environment that we are living in today. By choosing the right on-demand analytics, you can track and measure the performance of your Talent Acquisition programs, work more effectively, and use the available, actionable insights to plan for the future. Eventually, when the process is improved and you get to make better talent decisions, you will see it reflected in your business outcomes.
Contact us to learn how our Client Analytics can help you improve your hiring programs and make better Talent decisions!
1CIPD, People Analytics: Driving Business Performance with People Data, 2018