The Future of Big Data for HR: Faster, More Accurate Talent Acquisition

Agenda

1 – Brief Background2 – Overview

- What is Big Data?- State of HR and Talent Acquisition- Why “Big Data” and TA

5 – How To Apply Big Data to TA6 – Big Data Doesn’t Have to Be Hard7 – Q&A

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Background

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What is Big Data?

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What is Big Data?Buzz phrase – Squishy….no single definition

• Official definition: Convergence is building around the following:» Gartner’s 3 “V’s – A data set that is created through the combination of high Volume and

Velocity from a Variety of sources» IBM’s 4th V – Veracity

• Technical Component - Due to the enormity of the data traditional data acquisition, storage, and processing tools will not suffice

• Paradigm Shift: Traditional Structured vs. Creative Discovery Models=====================================================================• Key Hallmarks - Big, Fast, and “Different” – Blended together, Allowing for

Predictive/Forecasting and Real-Time Analysis

• Layman’s definition is emerging. Less focus on “what it is.” Instead the focus is shifting to “why it is important?” and “how it can be used?”

» i.e. “Big Data” is collection of activities that center around the analysis of large sets of data to determine if there are any Patterns that could be used to Predict Performance.

Market Interest In…

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Huge Interest in “Big Data”

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Why Is There So Much Interest?

• The promise of what you can do with Big Data

• Golden opportunity to contribute to the success and profitability of the business

• …Feedback from the audience…

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Evolution of HR

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HR’s role is participating in and creating business strategy. 80% of HR Leaders now report to the CEO. What stories does the data tell? What insights can be derived and applied?

The Facts:• Only 6% of HR organizations report that they have excellent analytic skills

internally. Most have not yet invested the time it takes to build a holistic analytics function. Due to limited headcount, priority is given to core responsibilities.

• Only 8% of companies report that they have begun to implement a Predictive Analytics strategy into their HR Strategy and Planning activities.

• Most reporting has been focused on HR Operational metrics vs. using data to drive planning and decision making.

• The United States alone faces a shortage of 140,000 to 190,000 people with analytical expertise and 1.5 million managers and analysts with the skills to understand and make decisions based on the analysis of big data.

The Opportunity:

• Companies in the top third of their industry in the use of data driven decision making were, on average, 5% more productive and 6% more profitable than their competition.

Adoption Challenges• Comfort Level, Skills, Bandwidth, Daily

Priorities, Limited Budgets• And Yet – A Growing Understanding of the

Need to “Speak” the Language of Business– $ and Data

• What are the challenges? – Feedback from the audience on challenges and

what can be done to overcome those.

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Big Data in HRExamples of where Big Data can/is being used by HR today:• Compensation Benchmarking

– Common• Workforce Planning

– Nascent/Emerging• Selection Testing

– Moderate• HR is “Hungry” to Understand Big Data

– Why Talent Acquisition is a prime area to use it• Earliest Tech Adopters• Ties to WFP, Comp, TM• Large external spend

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Why Applying Big Data To Talent Acquisition Matters

Talent Is Clearly A Differentiator

“War for Talent / Competitive Talent Acquisition

Talent Constraint Issues

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Talent Acquisition Is Competitive – It Is Critical That You Be Able To…

Market Your MessageIn The Right Places, The First Time… Ahead Of The Competition

Value Propositions forTalent Acquisition

• Paradigm Shift– – Proactive and Foresight driven

• Talent needs assessment – What, When & Where– Focus on building talent sourcing strategies that align to the business plan– Increase focus candidate and hiring manager engagement vs. transactional

aspects of the process– Tied to a “Workforce Plan”

• Smarter Spend –– Reduced Cost Per “Applicant” and “Hire”– Ability to reduce or get broader coverage with the marketing budget

• Precision and Speed –– Know before you begin – Sources and Difficulty– Narrow casting – No more Post & Pray/Spray– Timeliness

What If?• Examples - What would you be able to do if you could…

– Make better, more accurate forecasts?– Be able to be “proactive” in your talent acquisition activities?– Be able to make “informed” decisions, faster and then be able to take

quicker action?– To understand the effectiveness of the actions you’ve taken in real-time?– To have the competitive “talent” intelligence regarding how well your

marketing efforts are working, in real-time?– Have insight into the available supply and demand for talent?

• “Recruitability Index” and “Poaching Protection”– Could tie Sourcing to future Performance and Retention

• Talent is a differentiator. Without a pipeline you can’t recruit. • Leverage Big Data Insights for Operational Efficiencies and Competitive

Advantage.

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WhereTo Apply Big Data In Talent Acquisition

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A Tale of Two Recruiters

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Too Many Choices

Not Enough Time

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Which Pond To Fish In?

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The Talent Pipeline Challenges

How To Build It? Will It Have The Talent?

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What if you could accurately predict the outcome?

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And Do So With Better…

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Moving From a Reactive and Customer Service Orientation

To Being Proactive and Strategic

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A Tale of Two Recruiters

Which One Would You Rather Be?

Big Data Doesn’t Have To Be Hard!

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Begin With The End In Mind!

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• Start with your internal data in your core ATS and HR systems • Review your Employment Site weblogs • Benchmark – Compare the above metrics with external sources – i.e. consulting

firms, peer companies, consortiums, etc.• Work with your job boards to capture the key metrics they have about your

company – i.e. how often your company is searched for, how often your jobs are viewed, how often they are clicked on, etc.

• Subscribe to data services – i.e. Web traffic data, Google Ad-Words, Government Labor Data, etc.

• Social Data/Sentiment Analysis – measure your Facebook, Twitter, and LinkedIn Traffic – i.e. number of Likes, Follows, Re-Tweets, etc. and determine if there

is a correlation with your employer brand and recruitment marketing efforts

• Partner with your outsourced vendors who are supporting any of your transactional activities to capture the data they capture and blend with your analysis.

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In the end – it’s all about ….

Find Candidates, Fill Jobs Faster, Spend Smarter!

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David BernsteinVP – Big Data for HR

[email protected]

mailto:[email protected]

The Future of Big Data for HR: Faster, More Accurate Talent Acquisition

Business

Transcript of The Future of Big Data for HR: Faster, More Accurate Talent Acquisition