As a hiring manager, what factors do you consider when reviewing potential employees? Work background? Education? References? How much time do you spend per candidate?
We often hear of the “five-seconds-to-make-an-impression” rule with resumes. Especially in companies with a large number of similar roles, the visual sort process of categorizing candidates with not much more than a glance can become not only tedious, but inaccurate.
Talent acquisition analytics takes this manual process into the digital age, allowing employers to rapidly and accurately use data-driven models to predict not only employee performance, but fit, tenure, and loyalty. A simple, online 20-minute survey of both existing and potential employees is all that’s needed to get started.
Where Hiring Meets Data
Each year, billions of dollars are spent on researching, training, and hiring new employees. Turnover rates directly affect a business’s bottom line. Proven predictive analytics can use the existing culture of your company to assess potential future employees, reducing turnover by up to 12%.
It all begins with a survey of existing employees within a role. What are their values, both personal and business? How do they see the company? What helps them engage? Once data is compiled, it is analyzed using a scientifically-proven algorithm to develop clear statistical indicators representing the job fit, culture fit, engagement and performance.
Once a baseline is established, a similar survey for job applicants can produce a report accurately predicting the candidate’s fit. Within seconds, thus saving thousands of man hours a year, the program presents statistical data and predictive measures of large groups of candidates.
jobZology Provides Cultural Assessment Tools
By tapping into talent acquisition analytics, your company will save money in the hiring process. You will be able to find untapped talent pools; improve retention, engagement and performance stats with the talent you select; and rapidly score talent so you can hire people that will stay longer and perform better.
Increase Retention – Eliminating costs for hiring and onboarding
Increase Productivity – Eliminating costs of rework
Increase the Speed of Decision Ability – Eliminating costs in hiring
Increase Access to Talent – Opening avenues for new pools
Talent acquisition analytics transforms data into clear insights of your workforce and talent pool. By connecting performance data with recruitment analysis, you have a clear picture of your most (and least) productive workforce members. You can track key statistics such as where they came from, how they developed, tenure life events, benefits, and promotions. Then, use this data (ethically and fairly) to evaluate talent more accurately, reducing turnover and resultant waste of money, time and resources.
The process also takes candidates and employees beyond the initial hiring. By
augmenting most employee satisfaction surveys conducted by employers, proper scientific analysis helps gain quick insights into the feelings of the incumbent workforce. Furthermore, the candidate survey results in a scientific psychometric snapshot. This can be used to further understand the internal drivers of the candidate and the employee as they are considered for upwardly mobile positions.
For your talent acquisition analytics, consider TalentAIM, an employer product that provides huge cost savings in rapid candidate analytics, and financial gains due to increased employee retention and engagement. It combines a services engagement coupled with a SaaS based tool that provides predictive analytics for candidates fit to role and culture.
How TalentAIM Works
TalentAIM used scientific surveys, algorithms and machine learning in creating their cultural assessment tool. By providing rapid, accurate analytics, it has proven to provide financial gains due to an increase of employee retention and engagement. Their tool combines service engagement coupled with a SaaS based tool that provides reliable analytics for any company culture.