Improve Your Hiring Strategies with Performance Analytics
Performance analytics? If you haven’t heard of it yet, you will!
Recently, there has been a significant uptick in the interest in performance analytics as a way to track, measure, and improve organizational effectiveness.
So, what exactly is performance analytics? In broad terms, performance analytics focuses on measuring and optimizing the effectiveness of a company’s systems, resources, and personnel to achieve key organizational goals. Examples of outcomes include advantages over competitors, increases in quantity and quality of products and services, reductions in errors, increases in employee retention, just to name a few.
Why Analytics and Hiring Strategies Matter for HR Professionals
While performance analytics can be performed for a variety of business processes, nowhere is it more critical than in the area of personnel and Human Resources.
A significant contribution to any company’s strength is its ability to hire and retain the right employees. A well designed employee selection process leads to faster and more accurate screening, making a significant impact on bottom-line results.
Performance analytics can help you pinpoint what is – and isn’t – working with your selection process. Armed with objective data, you can then create hiring strategies to adjust and improve your HR processes to drive business results. An improved system can:
- Increase the quality of new hires
- Decrease hiring costs, training times, absenteeism, and turnover
- Boost productivity, sales, and customer satisfaction
These are all good indicators for performance analytics results!
Making Your Job Easier
As more and more HR professionals are tasked with evaluating and improving their hiring strategies, Employment Technologies is here to help.
As part of our offering, we provide performance analytics services to track and document the effectiveness of our assessment tools in achieving clients’ desired outcomes.
While performance analytics studies can vary in complexity, most of our clients request a study that simply compares the effectiveness and/or efficiency of their selection processes before and after they implement one of our assessments.
This type of study requires minimal client resources, because we typically work with our clients to identify key success metrics that they are already tracking. Following are a few examples:
- Employee turnover
- Training scores and completion rates
- Referrals and sales
- Satisfaction with hire
- Customer satisfaction
Following the study, you will receive a detailed findings report documenting the impact of the new assessment process on your overall hiring strategy. We also outline recommendations and next steps based on these findings. The report can be shared with your organization’s stakeholders and included with other performance analytics reports generated within your organization.
Whether or not your company has adopted a performance analytics approach, insight into the success of your hiring practices is a powerful asset. So, if your company leadership approaches you about performance analytics, you can smile and assure them you’ve got it covered!
Contact Us to Learn More
Employment Technologies offers a variety of performance analytics and consulting services ranging from surveys to impact analyses to full-scale validation studies. To discuss how we can help you evaluate the effectiveness of your organization’s hiring strategies, please contact me or call us at 888.332.0648.