Data-based decisions make HR into a proactive business partner; Haufe establishes business analytics as an integral part of applicant management
Freiburg, 17.12.2015 – Get there first! The use of Big Data in recruiting gives companies quick reactions and agility. The new “Business Analytics” module of the umantis Talent Management software opens new dimensions for targeted action in the employment market. The integrated analysis tool supports recruiters in data evaluation and in the generation of prognoses. For example, predefined Key Performance Indicators (KPI) enable continuous monitoring and improvement of the success rate of a recruiting channel, the time-to-hire or the quality of the career web site. This puts decisions in applicant management on a data basis; recruiting then becomes a strategic business area.
“Business Analytics” is an integrated function of the umantis Talent Management software and is immediately available for all data in the area of applicant management. The tool not only enables the analysis or the observation of data, but also prognoses or forecasts. For this “Predictive Analytics” approach, umantis Talent Management provides ready-to-use KPIs and extrapolates all relevant indicators into the future. In this way, analyses can be produced on the basis of predefined, relevant performance figures without significant effort.
Important Key Performance Indicators (KPI) in recruiting could be:
- the success rate of the various recruiting channels
- the number of candidates per recruiting channel
- the average recruiting time per position
- the number of interviews per applicant
- the average number of interviews for a position/type of position
- the cost of recruiting per member of staff
- performance figures for the assessment of staff satisfaction
- important key data for the career web site
- performance figures for the duration of new appointments
Trends and correlations in view
The Haufe Analytics Tool offers HR staff flexible possibilities for operation in the multi-dimensional data space. Analyses, formulas and dashboards can be tailored to users and operated intuitively. Here, numerous Best Practice reports are available. The new analysis function enables recruiters to recognize trends and also to reveal causal connections which are not obvious. In this way the really relevant results can be discovered: which channels provide the largest number of good applications? How long does it take, with which channel, until the top candidate accepts the offer? The objective of the data evaluation in recruiting is to recognize patterns, to derive prognoses and already to be reacting to future developments today. Daniel Kershaw, Head of Product Management at Haufe-umantis, explains the motivation behind the new development: “The use of modern technologies has become essential for HR departments to draw the attention of talent in a targeted way and to position the company as an attractive employer. Companies that miss this trend will not be able to hold their positions in the long term against competitors that recruit quicker and more intelligently – thanks to data support.”
HR Analytics for all areas
The umantis Talent Management web-based solution represents all processes connected with the life cycle of a staff member – from recruiting to performance management and personnel development and on to successor planning and an internal social network. The easily operated platform serves collaboration and information interchange between staff, managers and the personnel department. In this way, all the important data flows into one data pool. The Analytics Tool first enables the evaluation of the data from the “applicant management” area. An extension of the analysis function to the data of additional functions of the software, such as personnel development, target agreement or performance management, is planned.