What Unconventional People Analytics Looks Like?

Shefali Vasave | June 3, 2022 | 129 views

anaytics_Blog.jpg
HR analytics was first conceptualized in 1911 in the book ‘The Principles of Scientific Management’ by Frederick Taylor. Since then, it has become a prominent aspect of people management. Its application in performance optimization, employee retention and employee engagement is unprecedented. However, HR analytics has contributed in a multitude of ways to improving decision-making. Its scope is expanding and spilling into other areas of business. Many organizations are uncovering ways to use their people insights to inform decisions that have nothing to do with hiring.


Applying HR Analytics to Identify a New Office Location

The tech giant Cisco demonstrated that the use of people analytics can take many different shapes and forms. The company used data to guide its decision on choosing a new office building location, optimize space and build a positive culture right off the bat.

Powered by the company’s data from across its 266 offices in 87 countries, the people analytics team got into action to identify usage rates and costs in the organizations. The team took into consideration the neighbourhood and community around them to assess the business outcomes. The team went over and above to examine the availability of talent from nearby universities in relation to the areas their competitors served.


Predicting ROI on an Apprenticeship Training Program

Multinational energy provider, SSE, deployed an in-depth analysis of their trained apprenticeship program to calculate ROI. It not only enabled the company to make a business case for its apprenticeship program to senior management but also see the true value of its initiatives through a financial lens.

SSE discovered that every £1 invested collectively by the individual, society, and employer in a fully trained apprenticeship yields a return of £4.29 to the economy.


Making Diversity More Than Just a Buzzword

The carpool service, BlaBlaCar, used data analytics in HR to review job applications that were comprised of biased language and messaging. The company also structured its interviews in a way that was inclusive, a tactic that helped them convert candidates into employees and increase the diversity on their teams.

London-based survey company Saberr employed HR analytics to explore candidates’ behavioral compatibility, core values, and diversity to identify if a candidate will feel welcome in an organization and the strength of their interpersonal relationships.


Beyond the Hiring Horizon

A 2019 study by Chalutz Ben-Gal discovered that recruitment and workforce planning are the two areas of HR that yielded the highest returns. By using data to fuel insights outside of hiring and people management, some organizations are demonstrating the innovative ways that HR analytics can power business outcomes.

Whether to pinpoint a new regional office, assessing investment decisions or spearheading diversity and inclusion, leveraging people analytics is a matter of thinking outside the proverbial box and maximizing the combined power of people and their behaviors to drive innovation.

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RecruitMilitary

RecruitMilitary helps organizations excel by attracting, appreciating, and retaining America's best talent, its veterans. We use a suite of products to connect our diverse clients with men and women who are transitioning from active duty to civilian life, veterans with industry experience, members of the National Guard and Reserve, and military spouses. Online Services – Products include resume search and job postings to reach our 1.3 million+ registered candidates, website advertising and email marketing.

OTHER ARTICLES
HR ANALYTICS

Why Do Companies Hire on Third-Party Payroll?

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Article | June 21, 2022

We hear the term “getting back to basics” quite often and we’re hearing it a lot lately. Regular readers of HR Bartender know that I’m a fan of consulting the dictionary, so I did a quick search to see what “getting back to basics” means. The Collins Dictionary defines it as “concentrating on simple, important ideas or activities.”Getting back to basics can be an opportunity to refocus and streamline. It can be ways to deliver great work with fewer steps. To become more proactive, especially if the organization feels they have been very reactive lately. Getting back to basics can help us spend time on things that are directly aligned with the business. The reason I’m bringing this up is because now is a great time to evaluate HR compliance processes. If we step back for a second, let’s look at what’s going on right now. From a business perspective, organizations are redefining the customer experience. I’m not saying that’s bad. But companies are trying to set new expectations with customers. I’m hearing an increasing number of people talk about spending some or all their time back in the office. Even employees who are 100% remote are talking about going in for special company events. So not only are companies setting new expectations with customers, but they’re setting new expectations with employees. While we’re going through this reset, it only makes sense to examine the way we’re doing things in HR.

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Purposeful Employee Well-being: Making Data-based Decisions

Article | November 22, 2021

The pandemic uncovered several insights into the significance and connection between health, wellbeing, and productivity at work. Whether you work from home or in an office, without employee well-being, there is no organizational resilience. HR leaders are recognizing this bare truth and are focusing on more than just physical health. There is a push to promote holistic wellness, which includes physical, mental, social, financial, and psychological well-being. Employee Well-Being and the Modern Organization Studies have proved that employee well-being has a direct impact on revenue and profitability. It affects the overall employee morale, productivity, and employee experience. Focusing on employee well-being leads to a 41% drop in absenteeism, as well as more innovation, better retention, and lower healthcare costs. As workplaces have undergone much transformation in recent years, employees’ expectations from a health and wellness perspective have taken on a new shape. Forward-looking organizations are committing to developing meaningful initiatives that foster well-being in the workplace. Organizations do not intend to stop providing health coverage and benefits. They are proactively infusing well-being into the work culture, employee experience, and career growth as these factors are most likely to take precedence in the near future. In fact, according to a study by TeamStage, 78% of employees were more likely to continue working because they liked the benefits. In this context, data and a handful of key metrics will set the tone for HR professionals to deliver more value to their employees. Mapping the Metrics That Matter So what metrics will play a key role in bringing modern, employee-oriented wellness and health programs? According to a Paycor survey, 17% of HR professionals were able to provide a concrete response to changing their approach to well-being in 2022. Some initiatives include: Mental health awareness and training Discount on mental health apps Virtual exercise programs A 24/7 support helpline Employee Assistance Program (EAP) The first viable option is to implement a meaningful way to measure employee happiness in the workplace. For instance, international electronics giant Hitachi used wearable devices to monitor a range of activities, including sitting, standing, talking, and even typing, to create a measuring algorithm. Hitachi identified and pre-empted stressors and health concerns in the workplace by offering corresponding benefits. However, implementing benefits isn’t enough. Many employers are calculating employee interaction with their wellness offering through online portals. This key metric is used to determine whether or not employees are making the most of their benefits. In turn, this demonstrates their engagement levels with the company. Parting Words As the work landscape has shifted from the office to homes and job markets have become more volatile; stress, anxiety, and mental illnesses are mainstays of employee concerns. The pandemic underlined the importance of having a robust grip on employee well-being for organizations to be able to survive such drastic transformations. However, employee wellness has proven to be a cornerstone of sustainability and resilience all along. Organizations that hope to thrive and grow well into the future will need to highlight employee well-being as an integral part of their workforce strategy.

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RECRUITMENT & RETENTION

How SMBs Can Configure a Revenue-Generating Recruitment Tech Stack

Article | May 12, 2022

Assembling a winning recruitment tech stack is much like recruiting the right candidate. You’re bound to find people who match some of your requirements. There will be a few candidates who seem like a match but don’t tick every box. Then there are those that stand out because of a single quality. The recruitment tech stack has long served the HR departments in large organizations to streamline their people management. However, for small businesses, using an HR tech stack can be a big decision. According to a study by Goldman Sachs, 44% of small businesses had only three months of cash reserves during the pandemic. This forced them to be smarter with their resources when it comes to staffing. HR Recruitment Tech Stack for SMBs: The Status Quo Considering how HR as a department can be loaded with work in small and medium-sized organizations, it is imperative to have a tech stack that is well-rounded and cost-efficient. Since 2022, small businesses have faced the brunt of a talent shortage during the Great Resignation. “It's about capitalizing on the tailwinds as the economy heals and fully reopens.” Courtny Cloeter, Chief Revenue Officer at OneSource Virtual Talk about the great resignation, retention problems, and underfunctioning tech stacks. A National Federation of Independent Business report found that over 51% of small businesses couldn’t fill all their job openings in October 2021. According to Oracle’s report on the state of HR tech stack in 2020, HR managers of only 33% of small businesses consider HR tech stack as one of their top three issues. In addition, only 31% of small business HR teams report automating their people management processes. This leaves a lot on the table for SMBs who want to get the most bang for their buck. How HR in SMB’s Can Use Recruitment Technology to Improve Profitability SMBs that currently have a non-existent HR tech stack can look forward to gaining immediate benefits. According to Oracle’s report, 66% of SMBs reported seeing a significant improvement in efficiency. But efficiency is just the first step. In the age of talent shortages, remote workplaces, and mass resignations, SMBs can leverage a tech stack or tech recruiting platform to develop a winning hiring strategy. Let’s discover some of the benefits that could do wonders for the growth and revenue of SMBs. Attract Top Talent It goes without saying that quality workers benefit an organization much more than average workers. But the contrast between the two can mean either savings or a loss of thousands of dollars for small businesses. A McKinsey study reveals that in low-complexity jobs, high performers are 50% more productive, while the difference is 800% for high-complexity jobs. Developing a robust recruitment technology stack can drive high-qualified candidates faster to SMBs. Improve Employee Experience Hiring top talent is just the beginning. You need to retain that talent to save on hiring costs. That’s where employee experience comes in. A case study by Great Place to Work demonstrates how essential employee experience is. Brains on Fire, a creative agency, used employee surveys to increase their engagement score from 74% to 92% in just two years. Armed with the data from the survey, the small business refined its hiring process and boosted trust and engagement exponentially. SMBs will benefit greatly from a tech recruiting platform that includes engagement initiatives in its stack. Increase Productivity Increased productivity means higher revenue. In fact, Harvard Business Review reports that organizations that report 40% more productivity than average also have a 30–50% higher operating margin. That makes a massive difference for small and medium-sized organizations. How SMBs Are Using Recruitment Technology to Overcome Talent Shortages Recruitment Marketing The battle for qualified candidates starts way before a job application comes in. Many small businesses are making inroads into quality talent pools with recruitment marketing. For instance, many recruitment marketing tools allow organizations to instantly advertise on premier job sites. This saves time and helps SMB HR teams reach more candidates faster. Recruitment marketing tools are critical in the HR toolkit of SMBs. AI in Recruitment Tech Stack AI is a cross-functional technology in HR processes. With AI in recruitment, small businesses can maximize both time and resources to automate areas of hiring, candidate screening, interview scheduling and performance management. Data analytics can help uncover crucial insights into challenges, which can then be addressed with AI-based HR solutions. Conclusion: What Can Small Businesses Anticipate in the Future of Recruitment Technology? With technology recruitment, small businesses learn to tackle everything from hiring talent, managing performance and productivity, and shaping employee engagement. With technology, recruitment becomes more functional, performance-driven, and efficient. Small businesses can script tailored HR strategies that get the most out of their resources and deliver impressive results like it did for Brains on Fire. As SMBs continue to adopt modern tech recruiting platforms as their go-to HR management solution, they can shift their efforts towards strategic scaling. With a recruitment tech stack that scales with growing businesses, SMBs can sit back and focus on what matters: driving revenue. Frequently Asked Questions What are the technologies used in a tech recruiting platform? Some of the technologies used to leverage recruiting platforms include artificial intelligence, applicant screening and tracking, recruitment CRM tools, video interviewing tools, and training platforms. Is recruitment CRM a part of a modern recruitment tech stack? Yes. Recruitment Candidate Relationship Management (CRM) is used as part of the hiring process. It is used to manage all aspects of staffing and recruitment. It helps to build relationships with the talent pool and create a seamless hiring process. What are the must-haves in a recruitment technology stack? The must-haves of a recruitment stack are employee referral tools, email automation, video interviewing, CRM, social media automation, and job posting.

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Spotlight

RecruitMilitary

RecruitMilitary helps organizations excel by attracting, appreciating, and retaining America's best talent, its veterans. We use a suite of products to connect our diverse clients with men and women who are transitioning from active duty to civilian life, veterans with industry experience, members of the National Guard and Reserve, and military spouses. Online Services – Products include resume search and job postings to reach our 1.3 million+ registered candidates, website advertising and email marketing.

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Eden | August 08, 2022

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Lever | June 30, 2022

Leading talent acquisition suite Lever introduced their Talent Maturity Model to assist businesses in understanding their existing hiring practices and pinpointing areas for development. Companies are under pressure to keep up with a changing environment and people's needs in today's competitive market to hire top personnel. According to BLS data from June 2022, there were 11.4 million unfilled positions, demonstrating that businesses are still having difficulty hiring the finest candidates for their enterprises. Although it is obvious that hiring and talent acquisition are more crucial than ever for brands and businesses, sometimes firms fail to notice flaws in their hiring procedures that can hurt their ability to recruit in this market. The Talent Maturity Model was developed by Lever to assist businesses in assessing their present capabilities, understanding their short- and long-term goals, and creating an action plan to assist in the evolution of their talent acquisition strategies. "It's critical for companies to understand where they may fall short when it comes to their talent acquisition process. Whether companies are still hiring at a high volume, or focusing on retention, with Lever's Talent Maturity Model, our goal is to support companies in knowing what's needed to thrive and grow while providing practical steps on how to get there." - Nate Smith, CEO and Founder of Lever

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Virtual Vocations Spotlights 50 Remote Enabled Employers Known for Positive Company Culture

VIRTUAL VOCATIONS | July 11, 2022

A new report from one of the web's leading all-remote job boards highlights 50 remote enabled employers known for their dedication to fostering positive company cultures. Founded in 2007, Virtual Vocations is a family-owned, 100% virtual company that has worked to connect jobseekers with legitimate remote job openings from expert-vetted employers for the last 15 years. For its latest report, Virtual Vocations took a deep dive into Comparably’s “Best Company Culture 2021” list to identify the top firms for jobseekers who not only value flexibility, but also want to work for an employer whose values align with their own. "Comparably’s ‘Best Company Culture 2021’ report is an important resource for any jobseeker who wants to feel confident and experience their values reflected at work, so we were curious about which of these best-of company culture employers are also remote enabled,” Virtual Vocations CEO and co-founder Laura Spawn “Across large and small/midsize companies, 50 businesses stood out as remote enabled companies known for hiring telecommuters. Our ‘50 Remote Enabled Company Culture Leaders’ report outlines these companies and connects jobseekers to any available fully remote openings with those businesses," Spawn added. Published Tuesday, Virtual Vocations’ report on “50 Remote Enabled Company Culture Leaders” puts the spotlight on companies large and small that ranked among the best for company culture in Comparably’s 2021 analysis, which examined sentiment ratings from current employees who offered their opinions anonymously. The top 50 remote enabled employers from Comparably's list span more than a dozen industries, including healthcare, education, human resources, marketing, and information technology (IT), Virtual Vocations’ report reveals. Virtual Vocations’ report also serves as a resource for jobseekers interested in learning more about current openings with top remote enabled company culture leaders. “At Virtual Vocations, we encourage value-based remote job searches,” Spawn said. “In fact, jobseekers have reported to us that poor company culture is one of the top workplace confidence killers”—suggesting strong values play a pivotal role in ensuring employees are satisfied in their roles and performing at their best. ABOUT VIRTUAL VOCATIONS Founded in 2007 by CEO Laura Spawn and her brother, CTO Adam Stevenson, Virtual Vocations is a small company with a big mission: to connect jobseekers with legitimate remote job openings. To date, Virtual Vocations has helped more than four million jobseekers in their quests for flexible, remote work. In addition to providing a database of current, hand-screened, and 100% remote job openings, Virtual Vocations offers jobseekers a number of tools to aid in their job searches, including exclusive e-courses and downloadable content, and resumé writing services. Virtual Vocations also releases several data-driven reports each year on current trends in remote work. Virtual Vocations, Inc. is a private, family-owned, and 100% virtual company incorporated in Tucson, Arizona.

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Eden Launches Performance Management Product to Make Reviews and Feedback Processes Simpler and More Engaging

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Eden, the all-in-one people operations platform for employee-centric companies, today announced the launch of its People Success suite of tools with its new Performance Management product. The launch marks the expansion of Eden's product suite beyond hybrid workplace tools, enabling Eden to be the first software vendor that helps companies manage both their workforce and workplace. With 40% of workers disengaging when they receive little to no feedback, performance management is a critical process for any high performance organization. Consistent feedback and reflection help employees hone in on their strengths, understand their areas for growth, improve at their current role, and create a compelling vision for their careers. Companies that have continuous performance processes are 44% better at retaining talent, but managing the performance review process is one of the most challenging and time-consuming parts of the job for HR teams. Eden's Performance Management product makes these feedback cycles simple and easy for everyone involved – from people teams and managers to employees. "Providing opportunities for structured personal and professional growth is critical to the success of any high-performance organization, Eden's Performance Management product enables modern companies to empower their team members' growth through feedback and self-reflection, unlocking the potential of people and organizations." -Joe Du Bey, co-founder and CEO of Eden Eden's Performance Management solution will simplify the feedback cycles and processes for all stakeholders involved, including: HR and people teams, who can set up new review cycles through Eden's Performance Management product, customize questions and processes, view employee analytics, and maintain historical performance data to analyze trends across the organization. Managers, who can leverage the solution to assign peer reviews to employees at all levels and monitor team performance. Employees, who are able to use Eden's solution to complete their self-assessments, view their feedback, goals and areas of improvement, and provide feedback to their peers. Whether it's creating and distributing performance reviews, effectively measuring employees' progress against their individual goals, or arming managers with the tools they need to improve their employees' performance, Eden's Performance Management software ensures that companies have the right technology in place to prioritize their people and scale their HR processes. The future of work is employee-centric, In order to achieve high performance, organizations need to prioritize and care for their employees and provide them with the tools and opportunities they need to succeed at their current jobs and broader careers. Eden's Performance Management product will help high-growth companies be exceptional places to work,said Du Bey. Performance Management is the first product in Eden's People Success suite of software. In addition to its new People Success suite, Eden offers a Flexible Office suite of tools, which includes Desk Booking, Visitor Management, Room Scheduling, COVID Team Safety, and Internal Ticketing and Deliveries. About Eden Eden is the all-in-one people operations platform that helps your team work wonders. With its People Success suite, Eden makes it easier for your team to conduct performance management in an employee-centric way. With its Flexible Office suite, Eden ensures your company can run a high-performance hybrid workplace with tools that include desk booking, conference room scheduling, visitor management, deliveries notifications, and more. Eden is based in San Francisco and New York, and investors include Y Combinator Continuity, Bessemer Venture Partners, Fifth Wall, S28 Capital, JLL, ENIAC, SV Angel, and more. Eden's mission is to create a better place to work, for everyone.

Read More

HR ANALYTICS,HR STRATEGY

Lever Unveils Talent Maturity Model for Companies to Generate Insights into Their Current Recruitment Strategy

Lever | June 30, 2022

Leading talent acquisition suite Lever introduced their Talent Maturity Model to assist businesses in understanding their existing hiring practices and pinpointing areas for development. Companies are under pressure to keep up with a changing environment and people's needs in today's competitive market to hire top personnel. According to BLS data from June 2022, there were 11.4 million unfilled positions, demonstrating that businesses are still having difficulty hiring the finest candidates for their enterprises. Although it is obvious that hiring and talent acquisition are more crucial than ever for brands and businesses, sometimes firms fail to notice flaws in their hiring procedures that can hurt their ability to recruit in this market. The Talent Maturity Model was developed by Lever to assist businesses in assessing their present capabilities, understanding their short- and long-term goals, and creating an action plan to assist in the evolution of their talent acquisition strategies. "It's critical for companies to understand where they may fall short when it comes to their talent acquisition process. Whether companies are still hiring at a high volume, or focusing on retention, with Lever's Talent Maturity Model, our goal is to support companies in knowing what's needed to thrive and grow while providing practical steps on how to get there." - Nate Smith, CEO and Founder of Lever

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