Here’s why you should use HR analytics to improve hiring talents and recruitment.
Aside from hiring talents and being in-charge of recruitment, your company’s HR department has to manage other day-to-day affairs that may include tracking talents’ performance.
And when it comes to talent management, your HR department has to implement a number of HR processes to attract, hire, and motivate high-performing employees to stay.
This is where HR analytics can be useful. HR analytics refer to a set of tools or certain metrics you can rely on to analyse talent performance, or other business needs, with the use of data and technology. Here’s introducing four different talent management metrics to help you manage your company’s talent performance.
1. Talent Distribution
When it comes to talent distribution, all your company has to measure are simple demographic details: age, ethnicity, nationality, gender, and so on. The overview of your talent distribution lets you evaluate and improve your current recruitment plans.
For example, if you realise that your average talent distribution regarding age is rising, your company may want to refocus on your recruitment efforts on a different demographic.
2. High Potential Talent
This is one important talent management metric because it informs your company just how many current employees may qualify as “talent”. The metric allows you to measure the exact percentage within your workforce, identifying whether you have hit a ceiling or not.
And by knowing the exact number, you can also make well-informed decisions regarding which employee to invest in or send for further training. These steps can go a long way, helping your company thrive in the long run.
3. Time To Hire
Another metric would be gauging the time to hire. This is measured from the moment the job vacancy is being advertised to the talent signing off on the contract. The longer the hiring process, the more resources and costs your company may be wasting in the long run.
By using such a metric, your company can troubleshoot and figure out the best method to do recruitment and hiring talents who contribute effectively.
4. Exit Interviews
It is always good to keep track of the reasons why employees choose to leave. By knowing the reasons, your company can track any potential trends and work on implementing preventive company policies to encourage other employees to stay.
By collecting qualitative data and listening to valuable input, your company can tackle issues before they become too big of a problem. Your employees will also feel more appreciated, and that may encourage them to stay for longer.
Introducing AYP Global Pay
AYP Global Pay is a single digital platform that offers both Professional Employer Organisation (PEO) and Employer of Record (EOR) solutions.
With a single dashboard, you can easily access all the necessary HR features and analytics for your recruitment efforts.
And with AYP Global Pay making your HR processes much more convenient than before, you never have to worry about anything HR-related again.
Ready to let analytics, data, and algorithms help you improve your HR processes?
Learn more about our platform by scheduling a demonstration today!