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5 Ways in which HR Data Analysis Improves Overall Business Functioning

Ways to Improve Recruitment with HRMS Data and People Analytics

Recruitment is one of the biggest areas where HR can shine. It is more than just hiring people; it’s finding the right people with the talent and skills you need who want to stay with your company. It’s finding people who will grow with the business and make a positive impact throughout their career. This is where HRMS and people analytics comes in to help.

It doesn’t matter if you’re a big or small organization or your recruiting needs are few or many, combining your HRMS with people analytics will provide you with a valuable weapon in the fight to attract the best talent to your organization.

Why Better HR Analytics and Processes Lead to Better Recruiting

A best-of-breed HRMS, which helps HR improve virtually any transactional process (from managing payroll and time off requests to tracking benefits payments), greatly reduces the amount of time your HR team spends on more administrative duties, allowing them to increase department efficiency; this is the top reason why businesses implement an HRMS according to recent HR research.

When this kind of technology is combined with a people analytics solution that surfaces insights from the HRMS–and connects it together with all employee data in all HR systems–recruiters gain a complete picture of the employee lifecycle that will help them more easily and effectively meet the demands of the organisation. And these are just the broad-level benefits.

Let’s look at five surprising ways to use the combination of HRMS data and people analytics to help you in your recruitment programs:

1. Predict the future of recruitment

By feeding your HRMS employee data into a people strategy platform, you can perform predictive analysis in order to anticipate future retirements or promotions. Determine where future holes may exist in the organizational chart long before the hiring manager puts in a request to hire.

 2. Pitch the correct salary

Current employee salaries are a good data point when planning for a new hire. Conduct a data analysis on peer positions, as well as the ones above and below your requisition, in order to get a sanity check for the future anticipated salary.

3. Profile the data of top performers to design better candidate profiles

How often have you heard a hiring manager say, “We want another employee just like Joe!”

If you analyse the employee data for Joe and your other top performers, you will be better positioned to find that needle in the haystack. By reviewing the data of top performers, you can start to find trends as to where your top employees come from, and how to find more just like them.

You may also see trends in your source of hire (i.e., where the best hires come from), their education level, their area of study, the number of years of experience they have, and more.

4. Proactively mine your data for hidden recruitment sources

While recruiters know about sources such as the hiring fair at the local university or the tech job fair, the data in your HRMS can help you to find other, lesser known hiring sources. In particular, if you analyze the sources of hired candidates, i.e., employees, this will give you a better target than if you review only the sources of candidates overall.

Likewise, you may identify trends you hadn’t even considered before, such as maybe your best hires come from employee referrals or one particular job board. Using people analytics allows you to dig deeper into the data and enable more successful hiring practices.

5. Look in your own backyard for candidates

A company’s best candidate can be a current employee. The issue is, either the employee does not know about the opening or the recruiter does not know the employee exists. Are you making it easy for current employees to register interest and find open positions? Solutions can range from something as simple as forwarding a weekly email of open positions to something more complex such as mining the database for employee talent. Either way, your HRMS and people analytics will be the backbone of any such efforts.

Take Your Recruitment to the Data-driven Level

In order for recruitment to be successful, you must continuously look for ways to improve hiring. Combining your HRMS data with people analytics enables you to confidently double down on your strengths and eliminate the areas where you’re weakest so you can meet your organization’s every talent need.

The world of recruitment is pushing HR technology further forward, and no doubt we’ll see many new benefits alongside these new advancements in the future.

Contact us to see your own HR data in action