While it is universally acknowledged that data can help organisations make more informed talent decisions, not enough companies are taking advantage of it.
Against a backdrop of sector-wide skills shortages and an economy recovering from the pandemic, effective resourcing decisions require robust consideration and evaluations of existing initiatives, processes and issues.
Despite this, data from the CIPD Resourcing and Talent Planning Survey 2021, produced in partnership with Omni, reveals that while most organisations collect some data to inform their resourcing decisions, few take a comprehensive approach. For example, less than half (46%) collect data to identify skills gaps in their business, and less than a third (31%) collect data to help highlight future skill requirements.
A lack of awareness around key areas of resourcing also stood out in the results. Only 20% of organisations take the time to calculate the cost of labour turnover, and just 13% measure the return on investment (ROI) of their recruitment activities, with larger organisations more likely to measure ROI (18%) compared to SMEs (7%).
Organisations can access data from HR systems, other departments like IT and sales, candidate/employee feedback, and external sources, such as salary surveys. This data can then be harnessed in a variety of ways to:
It’s important that the true effectiveness of talent acquisition is measured and we don’t stop measuring once a new hire starts. Making the right recruiting decisions is important, as is having the right brand, attraction methods, selection and onboarding methods but these can only truly be measured next to ROI when we look at wider people measures. Omni advocates looking at the full employee life cycle and the value a new hire brings over that time – reviewing quality of new hires time to effectiveness, promotion rate, engagement rate as well as retention is key. All of which point to finding and shaping strong, productive, engaged employees.
The effective utilisation of data requires dedication and a robust process that spans from planning to evaluation. To start gathering and using data productively, we recommend the following steps:
Start with setting goals and a clear purpose for any data activity. What questions are you looking for answers to, and how will data help you find those answers? Understanding what you want to achieve enables you to create key performance indicators to measure success.
It’s important to know what data is already available to you within the organisation and its quality in relation to what you’re looking to achieve. Conducting an audit will enable you to identify any data gaps that need to be filled from the outset.
To weave data initiatives into the fabric of your organisation, roles need to be defined with clear objectives set for those taking on the responsibility. Now that the audit has determined where the data is coming from, whether that’s using existing information, like candidate drop-outs, or new
data, like candidate experience surveys, you can devise a data collection strategy and the technology required to support this.
Measuring the data you have gathered against the goals ascertained at the start of the process means you can report on progress, highlight areas for improvement and establish a more accurate ROI on hiring initiatives. Any insights gathered can also be concisely communicated to other key stakeholders both inside and outside the business.
Any organisation starting their data journey should continuously evaluate the process at all stages, ensuring any required adjustments and updates are made to deliver maximum efficiency.
Omni Assess is the dedicated assessment practice within Omni’s Resourcing Transformation Consultancy. We support organisations to achieve better outcomes through being able to deliver more effective, fairer, more inclusive, more engaging and more reliable talent assessments that enhance talent acquisition, talent development and talent management activities. For more information, contact James Crichton, Head of Assessment, on [email protected].
You can also download your copy of the CIPD Resourcing and Talent Planning Survey here.
Absolutely. Omni’s development centres are specifically designed to unlock the potential of your existing employees. Our structured assessments, aligned to your internal frameworks, are designed to identify individuals’ strengths, skills gaps, and areas for improvement, informing targeted developmental activities that drive real impact on individual and organisational performance.
Our assessment solutions are designed to elevate your hiring process by identifying the best candidates based on their skills, potential, and fit for the role. We help you define the critical competencies required for success, develop tailored assessments that accurately evaluate these competencies, and provide deep insights into candidates’ aptitude and personality traits. This evidence-based approach improves productivity, reduces turnover, and ensures a positive candidate experience. There are several benefits that personality profiling can bring to the recruitment process, such as supporting inclusive hiring, improved decision making, and increased efficiency.
Omni enhances your Employer Brand by presenting your organisation in a way that resonates with different candidate personas. By identifying these personas through rigorous market research and engaging them where they spend time online, Omni ensures that your recruitment marketing is relevant and broadens your access to talent. This approach pulls on relevant levers that are important to candidates’ values and drivers. Enhancing the employer brand to attract and retain talent remains one of the top key trends in recruitment and Omni’s Talent Strategy team can help your organisation do so.
The Resourcing Effectiveness Assessment (REA) is a rapid and flexible audit of an organisation’s resourcing maturity. The REA takes an integrated approach with key data derived from surveying recent hires, regretted candidates, and hiring managers; focus groups with strategic leaders, hiring managers and HR/TA teams; align with desktop research. Evaluation uses Omni’s four-level maturity index across five key areas: Strategy, People & Experience, Process, Tech & Data and EDI, with a further 20 sub-categories.
