• The Data that Drives Performance

    Posted by Ashley Kauffman on October 28th, 2021

    Data, Metrics and KPIs are all the buzz…and for good reason. Targeting and attracting talent are even more difficult today because the funnel of available and willing talent is much less than previously. So, if you are unable to tell what is working to attract and engage candidates and lack visibility in what efforts are bringing in the best results, we are here to help you effectively execute, monitor and adjust your strategies.

    We know that Human Resource and Talent Acquisition teams are constantly feeling pressure to justify their ROI while still bringing in top talent to their organization. Because of this, understanding and leveraging your campaign analytics is essential to maintain competitive. In fact, we have found:

    • 78% of large companies use analytics as part of their hiring process (Harver)
    • 71% of talent acquisition leaders point to analytics as a “high priority” in their recruiting efforts (Harver)

    How analytics relates to recruitment

    Analytics provides insights into where you may be succeeding and where you may be experiencing gaps. Often, it can reveal profiles of the candidates who match up well to your organization, a pattern of hiring a certain demographic or even the need to update your career pages.

    Analytics involves gathering, collating, and analyzing statistical data as it relates to the recruitment process. TA leaders who use analytics:

    • Collect the data in selected categories
    • Assess the data to draw conclusions
    • Summarize the data to present to executive leadership
    • Adjust their recruitment dollars and efforts

    Analytics offers relevant data for any TA team, but it is more than numbers. It provides profiles into the candidates who come to your career site and eventually apply. And it can prompt meaningful discussions about the impact of recruitment efforts and potential revisions of the marketing strategies to generate a high volume of the right job candidates to your organization.

    Data-driven decision-making

    Data-driven decision-making (DDDM) is the new buzzword for high-performing TA teams in the use of data to determine the effectiveness of any recruitment campaign. While metrics vary by organization based upon your goals, you may want to start with gaining insight and trends on the following:

    • # of visits to your site
    • # of job views by job candidates
    • # of completed applications (and of those who started the % of those finished)
    • # of offers and hires by critical roles
    • # of job starts and retention post-90 or 180 days
    • # of completed applications

    Keep in mind that you’ll need to allow time to gauge which strategies have an immediate impact and which ones take longer to produce the results you want.

    Words of caution

    Be cautious of flawed data or reacting to data too soon. The data can tell a story but not the whole story. External factors at times (like Covid-19) may provide skewed results. You should also evaluate the data over a longer period before continuing or abandoning a recruitment strategy.

     Analytics can reveal the impact of a recruitment strategy over time and how key words and content resonate with candidates. Historic patterns also emerge when you examine your data over several years to compare your hiring efforts on a monthly, quarterly and yearly basis (Hint: ignore any statistics from 2020) both in your individual organization and industry-wide. NAS, in fact, is an expert in this.

    Let’s talk money

    Like all organizations, you want to improve efficiency and reduce costs. Analytics shows where the time and money spent on recruiting efforts are not being productive and where funds should be applied in a future recruitment budget. You can spread budget allocations across targeted jobs and stop wasting ad spend on non-converting jobs. With in-depth analytics, you can quickly shift strategy based on results.

    Unfortunately, costs per click go up every month, and you should not expect to achieve the same recruitment results every year at the same price. You need to invest in your brand and recruitment efforts to increase volume (or at least maintain the same volume). It’s a candidates’ market right now and that means the cost per hire is going up.

    Are you convinced yet?

    As Geoffrey Moore stated, “Without big data, you are blind and deaf and in the middle of a freeway.”

    A partner like NAS, however, can help. We know what to look for and what to recommend in terms of spending your funds effectively to get the highest volume of applicants. Take a few minutes to share this Success Story with your team and contact us today!

    Ashley Kauffman

    As Director of Analytics with NAS Recruitment Innovation, Ashley works closely with our clients to help them strategize on recruiting A-level talent based on data intelligence. Ashley focuses on telling a story for our clients in a way that not only validates their current strategy, but also anticipates future opportunities. Whether your goal is delivering effective employment brands, career sites and social media strategies, or comprehensive online or traditional ad campaigns, Ashley leverages her ten plus years of industry experience to achieve success and exceed client expectations.

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