Verztec Consulting: Talent Analytics, The New Hiring 101

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Verztec Consulting: As the trend towards talent analytics burgeons, HR personnel might just be looking for something more than confidence and a firm handshake for new hires.

Hopeful candidates show up at the door, clad in their finest. Their impeccably-written resumes in their hands, they are ready to tackle any hard-hitting questions that come their way.

Now, as the trend towards talent analytics burgeons, HR personnel might just be looking for something more than confidence and a firm handshake. Nicholas Goh, CEO of Verztec Consulting Pte Ltd, offers a tip sheet on this next big thing in hiring.    

Qualifications, charm and wit during an interview – should hiring decisions be made based solely on these criteria? The problem is that the padding of resumes is not an uncommon practice. Interview skills can also be acquired.

Conversely, an application submitted by a candidate who does not meet the qualification requirements is often glossed over – even if he has the necessary aptitude, he never makes the cut.

In a research, “Forecast 2012” conducted by consulting firm Development Dimensions International, it is found that one in every eight new hires ultimately proved to be an unsuitable fit. Involving 250 staffing directors and 2,000 new hires from around the world, the study also found that almost 50% of new employees expressed buyer’s remorse after taking up a job offer.

1. Digging Deep

Enter talent analytics, a form of psychometric testing that brings to light a person’s innate traits. Talent analytics allows employers to optimize their manpower and better align their capabilities with organizational objectives. Companies can use the results to place employees in more rewarding roles and up employee satisfaction.

Talent analytics can also help companies identify their top performers and, more importantly, retain them. When facing an exodus of valued employees, management needs to find out the root causes. Are they unhappy with their jobs; and if so, why? Talent analytics measures these elements and provides a qualitative view that offers suggestions for actionable steps.

2. To Engage People

In 2009, the need to assemble an external sales force arose for Caesars Entertainment Corporation. While interviewing candidates, their managers become emotionally attached to and biased towards a few candidates.

On the other hand, their analysts recommended hiring based on talent analytics. The company went with the latter. It was, later, found that the new employees had exceeded expectations, achieving high call volume and conversion rates, thereby helping to reverse a decline in sales.

3. To Encourage People

This year, Google returns to the apex of Fortune’s list of “100 Best Companies to Work For”, a feat it achieved in 2012. Evidently, the company is doing something right.

First, its HR department goes by the name “People Operations”. Every people-management decision, from offering free meals to the 20% time initiative, is the culmination of data mining and careful analysis. Google’s analysts go to great lengths, says workplace consultant Dr John Sullivan, even tracking queues at cafes to design a workplace where collaboration can thrive.

4. To Empower Leaders

Google also adopts an effective hiring algorithm that forecasts the probability of a candidate’s success after he is hired. The worth of each top performer is calculated and, in turn, its executives are furnished with the resources to develop and retain their best talents.

5. With a Pinch of Salt

The success enjoyed by companies who adopt talent analytics has led many others to wonder if they should model themselves after them. When utilizing talent analytics, it is imperative to remember that while empowering, it is just a tool. Companies should moderate the use of it. To make the most out of talent analytics, keep in mind the following:

  • Each metric must be tied with the company’s unique business goals.
  • As organizational priorities change, so should the metrics to ensure relevance.
  • Rejecting an analysis just because the data is not 100% accurate will only lead to inaction.
  • There are some aspects that impact performance, and they cannot be easily translated into quantitative measures.
  • An over-reliance on analytics may lead to neglect of talent management, which is as important a factor when it comes to business performance.

About VERZTEC
Verztec is a leading ISO 9001:2008 Global Content Consulting Services Company. Verztec assists companies around the world to design, develop, localize and publish their global communication messages in over 60 languages across various channels. For more information, please visit http://www.verztec.com.

VerztecLearning™, the Learning and Development Solutions division of Verztec Consulting Pte Ltd, is a leader in innovative blended learning and online courses for soft skills, leadership skills, IT skills, business skills and project management skills training. For more information on VerztecLearning™, please visit http://www.verzteclearning.com.

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Nicholas Goh
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