Get Better Insights from Your Data in 2021
This week kicked off the first in Jobvite’s 3-part workshop series: 21 Minutes for 2021 Planning, to help you shape your 2021 talent acquisition program success. We know everyone is “Zoomed-out” right about now. So, these fast, actionable workshops are built to give you succinct expert insights, along with a takeaway workbook, that gets you quickly back to work putting our tips into practice.
In 21 Minutes to Get Better Insights from Your TA Data in 2021, Morgan Llewellyn, PhD, Chief Data Scientist at Jobvite, discusses actionable tips for how you can extract value from your 2020 TA data and what you can do today with that information to prepare for 2021.
Read on for a taste of what was covered in the workshop. And view the entire workshop here in only 21 minutes!
Hold Your Horses — What Are You Trying To Achieve?
How can you extract better insights from your 2020 data? Well, before you jump into the numbers, our initial advice is to take a step back. It’s not as much about the data, but what you are trying to achieve. Like the building block of scientific method, you want to first determine what questions you’re trying to answer. As you know, this can vary based on your company’s specific needs, which ultimately influence what KPIs are most important for you to track and analyze.
Consider these three steps towards extracting data quickly:
- What Are Your Program Goals? — As we mentioned, data analysis is about what you are trying to achieve in your TA program. What goals do you have in mind? Think this through, and write down specific, achievable goals for a period of time, whether it’s an entire year or a quarter. Answer a few basic questions about each goal. Why is it important? What is it going to do for the business?
- Develop a Hypothesis — Don’t click away just yet! This brings us all back to fourth grade science; hypothesizing is just clearly defining the topic and focus of your data review. Write down a few words about what you think is impacting your goals, and what hypotheses you want to test. For instance, what do you think could be causing time-to-hire to grow or shrink? What could move the needle in a meaningful way? This will help you target specific information you’re looking for when examining the data.
- Translate to Clearly Communicate — Be able to surface the questions in steps one and two into the business objective framework. What does that mean? Write down how your goal will impact the business in clear language that executives, peers, and managers alike will understand. For example, you should be able to quickly explain “time-to-hire,” what it is, how it impacts dollars, and why it’s important to the business as a whole.
To summarize: Start your talent acquisition data analysis with a goal in mind, know the outcome you’re looking for, and translate this into a business relevant KPI your executives want prioritized. Use your subject matter expertise to develop these first few steps, and when you look at the data, you’ll have a strong map to guide you.
Next Steps
For more guidance on taking your data analysis from broad ideas to specific actions, including assessing candidate pool health, improving job description results, and creating process improvement, watch the full workshop AND download the companion workbook.
Want to learn more about how Jobvite’s actionable analytics can help drive better visibility, smart automation, and faster time to hire for your company? Request a demo and speak to our team today!