Guest blog from Terkel.io
From ensuring alignment with strategic business plans to forecasting future workforce trends, here are five areas HR and talent acquisition leaders focus on when presenting recruiting data to their executive teams.
- Candidate Alignment With Strategic Business Plans
- Job Function Engagement Levels
- Long-Term Retention Rates
- Forecasts of Expected Future Trends
Candidate Alignment With Strategic Business Plans
In most cases, the best candidate for a job is many things rolled into one. In our experience, we place a lot of weight on a candidate’s attitude, skill set, and experiences that align with our three to seven year business goals.
Using this approach facilitates smoother change management, easier onboarding, and faster time-to-value. As a result, we can achieve a competence evolution rather than a mere skills substitution, ensuring our ability to remain a composable company.
Job Function Engagement Levels
Presenting relevant talent acquisition data to an executive team plays a critical role in helping them understand the current and potential success of their business. A useful data point for executives is employee engagement by job function, as it provides them with insight into which roles need extra focus and investment.
By understanding the differences in individual job functions’ engagement levels, leaders can identify those areas that may cause stress or difficulty within their organization, allowing them to develop better strategies to enhance high-performing roles while supporting underperforming areas. This invaluable data point helps maximize organizational efficiency, while boosting overall motivation and performance.
Long-Term Retention Rates
Talent acquisition doesn’t end when the hiring is done. If you don’t go back and look at retention rates, you’re missing half the story.
It’s a common problem in the tech industry. A candidate lands the perfect role and thrives for a few months or even a year, but then they’re snatched up by another company and the time-consuming search for a replacement must start all over again.
More and more executive teams are prioritizing long-term metrics like retention rates, so as a recruiter, it’s become a big part of my job. I do regular check-ins on my placements and collect data on whether they stay or go. My job isn’t over when the position is closed — I’m in it for the long haul.
When presenting talent acquisition data to an executive team, it’s important to pay special attention to the cost of hiring. This information is crucial in assisting the executive team in making wise decisions regarding the distribution of resources, including budgets and headcount.
It also offers insights on the effectiveness and efficiency of the recruitment processes. Organizations can keep up their competitiveness in the talent market, adjust to shifting workforce needs, and discover trends and patterns by measuring the cost per hire.
Overall, talent acquisition directors can assist their businesses in attracting and keeping top talent, while maximizing their return on investment by concentrating on the cost-per-hire measure and making data-driven decisions.
Forecasts of Expected Future Trends
Although summaries of current talent acquisition data can be interesting, executives really want to see forecasts. For example, executives will be concerned if the cost-per-hire is high, but they will panic if the data suggests that the cost-per-hire is progressively increasing. By showing projections and predicting future trends, you create a sense of urgency among the executive team, showcasing the power of talent acquisition data.
These forecasts can, therefore, serve as an early warning system to senior management, helping to detect issues before they progress into serious problems.