[Excerpt] HR Analytics is becoming increasingly important as new technologies, software and new methods of data collection are revolutionizing the HR function. One area in which analytics tools are particularly flourishing is the talent acquisition space. With an increasingly competitive talent market, talent acquisition presents itself as an area in which analytics tools can greatly supplement decision making for these 3 reasons:
- here are many measurable, verifiable metrics to measure in terms of sources of talent, candidate qualifications, and the efficacy of the recruitment process
- here is an abundance of sources from which to collect data (Online sources, interviews, etc.)
- With the increased importance of sourcing the correct talent, the opportunity to use analytics tools to make better decisions is quite compelling
Given these reasons, talent acquisition presents itself as an opportunity for organizations to build their analytics capabilities while driving measurable business outcomes and improvements to their organization. As evidenced in the above graphic, many organizations are already undertaking these changes or considering changes in the near future.