At Talentcare, we like to label ourselves as “data dorks”. Fittingly, we love to collect numbers, identify trends, and advise action plans based on data that is deemed “too complex” at first glance.
What does “big data” even mean? And how can companies use it? A recent interview with Elle Aldridge, COO at Talentcare, and team member Mohini Tellakat Ph.D., Director of Business Intelligence, cover the broad topic of big data, its unmatchable powers, and why companies should be utilizing it in their HR practices. When used correctly, companies can predict what is coming and ensure the practices in place lead to hiring the best people.
ELLE: We use it to refine and optimize our approach to everything we do. We evaluate traffic patterns on career sites, we look at the percentage of visitors who click the “apply” button, we collect employee data and use it to build out employer brand stories, we look at ROI for resource allocation and track ad spend all the way through to the point of hire. A lot of companies will ask where most applicants come from, but…
We take it to a deeper level to truly understand where the quality candidates come from.
Mohini: We “wow” our clients by backing up any claims we make with numbers and data to support them. By supporting our claims with clients’ data, and trends that we see happening within their hiring processes, we can recommend actionable tasks that can help them improve. Big data also allows for both the company and the client to hold each other accountable and makes communicating with clients very transparent. Additionally, we use the wealth of data we collect to predict and determine industry standards, and visualize applicant and client behaviors in the hiring pipeline, thus ensuring the people they bring in are the best hires in the applicant pool.
Mohini: Something about big data that a lot of people don’t get is that people will get super excited about the fact that they HAVE tons of data and will advertise it, but you really need people who understand the industry, problem space, client, etc. to be able to interpret it correctly. There are lots of ways to find patterns, and with lots of data, the likelihood of finding patterns goes up. There are tons of people who can do this, but there are fewer who understand the world well enough to know what the patterns mean, and which ones are actually important and worth paying attention to. Basically, with lots of data comes a lot of noise, and it’s the job of specialized data dorks to find the signal in the noise.
Elle: They cannot get to the Aha! moment. It is more than having the data for the sake of having it. Companies need to arm the correct people with the correct data who can directly influence the processes that are most important to their business.
Mohini: When you don’t have enough data, it is hard to get the big picture ideas out there. You cannot know who is going to fit within your company if you don’t have the data about current employees.
Elle: A nice thing for small businesses is that they can leverage our current knowledge base. Based on what we have been doing for other companies in the same industry, they can see what is good, what their benchmarks should be and can rely on our team to watch the data, while they can be more hands-off. It allows them to have more smart people around the table without having to hire internal staff.
Mohini: Smaller companies can benefit from understanding competitor trends and competitor best practices. They might not personally have the data, but they can find other companies that “look like them” and recreate their success stories.
Elle: Look at the report packages available for all systems. Some provide static measures that won’t help you or your team know how to make improvements. Actually, compare what is available through different vendors and understand how systems talk to each other for reporting purposes.
Mohini: People sometimes get scared of data and numbers. They don’t know what to do with it. I think that collecting information, recording things, and having it all saved somewhere is so helpful. Once collected you can always reach out to someone who can make sense of it.
Mohini: Credibility – data allows us to be prophets and tell people about the future.
Not only do we have the data to support that certain people will fit in with a company better, but then we can tell them why.
Mohini: Confidence and consistency. Companies want their teams to be cohesive and want to have certain personalities in certain positions. Big data can support things like preferred candidate profiles and statements like, “We’ve been showing you 20 people with this profile, your favorite people meet this profile”- to ensure a consistent flow of good people in specific roles. This will help companies develop brand consistency and confidence in candidates.
Elle: Time to fill. It is an HR metric that many incorrectly believe is the answer to solve recruiting woes, but it doesn’t tell them anything or a real concept on what it takes to fill a job. Why is your time to fill too long? Which step or steps need refined? That’s the data you need.
Time to fill…it doesn’t tell them anything…why is your time to fill too long?…that’s the data you need.
Elle: We are in an instant gratification society. As a business, you have to be able to provide the data. The more you can provide instantly, the higher likelihood of success.
Mohini: It makes you a magician. It allows you to tell the future. We can help you can use big data to your advantage. It’s easy to get started.