large number of those citing lack of applicability, however, suggests
that the intended benefits of data analytics have yet to diffuse the
HR community.
So let’s go over what those potential benefits of big data are, based
on the one in six Canadian employers who “always” or “usually” use
analytics as part of their recruitment strategy:
■■ 70 per cent say it lowers their cost per hire
■■ 66 per cent say it lowers time to hire
■■ 49 per cent say it helps them hire more candidates for
specialized fields
Big data analytics is boosting recruitment efficiency, and for
many, increasing access to elusive, high-skill candidates. To these advocates,
it is empowering recruitment in meaningful, bottom-line
enhancing ways.
DETAILS ON DATA
But what data is being used, and how is it implemented?
The item at the top of many organizations’ list of recruitment challenges
is a lack of top-level candidates applying to open positions. By
using a variety of tools that leverage government and online recruitment
data, companies can determine whether or not their challenge
is simply a matter of the supply of available and qualified talent falling
short of regional demand. These tools crunch millions of data
points – resumes, job postings, labour force surveys – that were previously
unavailable to recruiters just a few years ago. For example,
if there is an undersupply of workers in one area, a company can
The O ceTeam Salary Guide:
100% what you need.
Our 2015 Salary Guide will give you insight on the latest
administrative salaries, hiring trends, job descriptions and
more. To download your Salary Guide and use our Salary
Calculator today, visit offi ceteam.ca/salary-centre.
1.800.804.8367
offi ceteam.ca
© 2014 Offi ceTeam. A Robert Half Company. 0914-3407a
choose to target job advertising in nearby metros and relocate ideal
candidates. Or, the data may convince companies to scale back job
requirements and consider instituting a training program for the occupation
in question.
Similarly, recruiters can access market-specific compensation data
to compare how their salary ranges stack up against competitors.
In situations where a skills shortage is present, market logic tells us
that raising salaries above the median should attract more qualified
candidates to the open job, and subsequently, signal more workers
to acquire the requisite skills for that profession over the long-term.
Thirdly, companies are becoming increasingly savvy at analyzing
their current and past workforce to inform future hiring decisions.
In the book The Talent Equation, by Matt Ferguson and professors
from University of Pennsylvania’s Wharton School and New York
University’s Stern School, the authors crunched nearly 33 million
resumes and found that when companies increase their number of
sales workers who hold college degrees by just 10 per cent, it is associated
with about $31,000 (U.S.) in value added per employee. This
is no small amount for a large organization. Companies are capable
of doing these types of high-level statistical analyses using the trove
of workforce data sitting on their own servers and using the results
to implement systemic realignments of their recruiting goals.
Finally, companies can significantly improve upon recruiting
time-to-hire and cost-per-hire by using analytics to evaluate their
own talent acquisition processes. The average large company invests
in dozens of recruitment sources to attract job applicants. These include
everything from company career sites, job boards, social media
and staffing agencies. Over the course of a year, these services generate
a mountain of performance-based data that if aggregated and
analyzed, can answer whether recruitment dollars are being spent
most advantageously.
Note that in all of these examples, data does not diminish the
role of the recruiting expert – it enhances it. Adopting data analytics
is the next step of HR’s long transformation from administrativefocused
roles to consulting-based, talent advisory roles. Data won’t
dehumanize HR and talent acquisition; rather, it will empower recruitment
leaders to find the right person, for the right job, at the
right time more efficiently than ever before. n
Mark Bania is the managing director of Canadian operations at
CareerBuilder.
recruitment
Looking for a professional speaker or trainer
for your next meeting? We can help!
HARNESS THE POWER
OF MY FELLOW CAPS SPEAKERS TODAY!
www..AllberrttaSpeakerrss..com
www.CalgarySpeakers.com
www.TorontoSpeakers.com
780-707-0189
Bob ‘Idea Man’ Hooey Visit www.bobhooey.training
46 ❚ FEBRUARY 2015 ❚ HR PROFESSIONAL