In today’s age of digital transformation, war for talent, and a turn toward the employee market, human resources management is subject to many new challenges. Within the trend barometer study of PWC “People Management 2030: In the upheaval between technology and culture transformation” in cooperation with the University of St. Gallen and the DGFP, exactly these challenges and resulting trends until 2030 are mapped. Here, 94% of respondents indicated that the topic of recruitment & personnel selection is considered important to very important for HR management.
Companies are looking for ever more effective and efficient ways to attract the best talent. In this quest for optimal recruitment, new analytics opportunities have emerged in recent years through the digitalization of HR processes – people analytics.
This was also confirmed by the respondents to the trend barometer: “The HR experts surveyed see the greatest increase in importance in 2030 in big data and people analytics skills (+23%), a willingness to experiment (+15%) and digital knowledge (+10%).
The use of people analytics in recruiting offers a wealth of opportunities to optimize the selection process. By analyzing applicant data and identifying relevant patterns, companies can better understand potential talent and more objectively assess their suitability for a particular job. Instead of relying solely on traditional application materials and in-person interviews, People Analytics enables data-driven pre-screening that evaluates candidates against objective criteria and uncovers inefficiencies in processes.
An important metric from our Metrics Library that can help you be better positioned for all future waves of hiring is the “Need for Recruiter” It tells you how many recruiters a company needs to meet the company’s future hiring needs and is critical to optimizing recruiting processes. This is done by creating a forecast that measures the likely future demand for talent in a company. Knowledge about the volume of open positions, recruiting efforts and company growth and goals are relevant for this.
When peopleIX does this analysis for you, you get the most important insights displayed in your personal dashboard at the touch of a button. This gives you an overview of your open positions and the average number of applications needed to fill them.
From the data of our example company, you can see that too few applications were received in the marketing department to fill open positions. From this insight, data-based decisions can now be made to ensure the quality as well as the speed of the right hires in marketing.
The peopleIX platform can also give you insight into the workload of recruiters. This way, you can better assess the need for recruiters, counteract overload and promote a fast application process.
People Analytics not only helps you visualize the most important metrics in recruiting to enable data-driven and thus objective decisions. It saves your recruiting team valuable time in data quality management, reporting, and insights. This leaves more time for the most important part of the recruiting process – building relationships and getting to know the candidate and the company.
Prepare now to optimize your recruiting and attract the best talent for your company – thanks to People Analytics.
Get a personalized demo around your unique pain points and discuss your company’s specific needs. Find out how peopleIX can help you on your people analytics journey. Or explore our recruiting use cases and learn how you can use data and analytics to optimize your recruiting processes, attract higher quality applicants and retain top talent. Let’s get your recruiting to the next level!