Experts say that replacing an employee can cost anywhere between six months of their annual salary and two times that salary. Running thorough background checks that include professional and educational verifications can help your business avoid these costs.
How much does it cost to hire someone? Getting a specific answer to that question depends on who you ask and which sources you trust. But the general answer is the same no matter who you consult: hiring a new employee is not cheap.
The True Cost of Hiring an Employee
There is a reason that high employee turnover rates are seen as a bad thing, and it’s not just that they make a business look like an unwelcoming place to work. Continue reading
The growing need for recruitment automation tools has fuelled the recent popularity in AI for recruiting.
With hiring volume predicted to increase next year but recruiting teams remaining the same size or shrinking, interest in recruitment automation will only get stronger.
In 2017, finding top talent will depend on a recruiter’s ability to intelligently automate their workflow.
Recruiting teams are also facing increased pressure to demonstrate data-based KPIs. Talent acquisition leaders are increasingly measuring their recruiting teams by quality of hire in addition to time to fill.
According to LinkedIn’s data, the most important recruiting KPIs are:
Quality of hire is the top priority for 60% of talent acquisition leaders
Time to fill is the top priority for 28% of talent acquisition leaders
Advances in technology have transformed finance, sales, and marketing departments and industry experts believe recruiting technology will be the next big adoption. Continue reading
When it comes to recruiting technology, AI for recruiting is everywhere. In fact, it was the dominant theme at this year’s HR Tech Conference.
AI for recruiting technology – the application of artificial intelligence to recruiting – is designed to automate some part of the recruiting workflow whether it’s screening resumes, testing candidates, and even interviewing.
The current explosion in recruiting technology represents exciting opportunities to help solve some classic recruiting headaches. But trying to make sense of it all can be overwhelming.
Here are 4 tips on picking the right recruiting technology for your recruiting needs.
Tip 1: Define the problem you’re trying to solve with recruiting technology. Continue reading
The popularity of people analytics – the use of data and data analysis techniques to understand, improve and optimize the people side of business – is creating dozens of people analytics conferences around the world.
Research by Bersin has found that while 78% of large companies rated people analytics as “urgent” or “important,” only 7% rate their organizations as having “strong” people analytics capabilities.
This discrepancy represents a huge opportunity to differentiate yourself by strengthening your analytical abilities.
To help you along your people analytics journey, I’ve compiled a list of the 8 best people analytics conferences presented in chronological order. Continue reading
The Google People Analytics team is famous for their data-based HR and talent practices.
All people decisions at Google should be based on data and analytics.
-Prasad Setty, VP of Google People Analytics
Google recognized early on the value of creating a people analytics department to optimize the recruitment, development, and advancement of their people based on data insights.
They are clearly doing it right because today, Google employs more than 10,000 people, receives more than 50,000 resumes weekly, and ranks number one on Fortune’s 100 best companies to work.
To help you optimize your HR and talent practices like Google, here are 5 lessons from Google’s People Analytics that you can steal. Continue reading
One of the fastest growing areas of HR is people analytics. But understanding how to best leverage people analytics software can be challenging.
To help you learn more, I’ve asked industry experts for their advice on best practices for using people analytics software.
Dr. Benoit Hardy-Vallée, IBM Kenexa
The best people analytics software is human judgement.
The key to getting insights first starts with a true desire to answer important questions using data and evidence.
No software will provide that desire for evidence-based learning. People analytics software first and foremost needs to be able to function as a tool to empower human decision making. Continue reading
SHRM identifies people analytics for recruitment as one of the top recruiting trends of 2016.
Popularized by the Google people analytics team and with dozens of people analytics conferences around the world, it looks to be a trend that’s here to stay.
When it comes to recruitment and talent acquisition, Aberdeen’s talent acquisition survey recommends that HR “prioritize analytics” and “invest in innovative technology options.”
The adoption of people analytics for recruitment holds the promise that the recruitment function can become even more valuable and strategic within a company.
To help you along, I created this handy pocket guide on how to use people analytics for recruitment. Continue reading
#PowerUpHR: People Analytics
& Cognitive Technology
What I Got Out of the 2016 IBM HR Summit
It has been a couple days since the close of IBM’s 2016 HR Summit and I am still taking in everything I saw. At a high level, IBM’s annual HR Summit is a 3-day conference for all things HR tech.
Going in I expected to see some great keynotes but I was blown away by the passion of every person I spoke with. To see not just speakers, but all attendees so devoted to bringing data to HR was very inspiring. The event gathered entrepreneurs, engineers, HR professionals and thought leaders from around the world. Continue reading
With unemployment down and turnover up, 86% of recruiters believe it’s currently a candidate-driven market.
This makes it difficult for smaller to mid sized companies to compete for the top talent they need to grow in smart directions.
That’s why Ideal partnered with Kelsie Davis, HR Insights Specialist at BambooHR for a 30-min webinar on 4 Ways To Compete For Talent In A Candidate-Driven Market with tips on:
Developing your employer brand
Creating a positive candidate experience
Offering a total compensation package
Filling your recruitment funnel
using novel methods
Watch the webinar on-demand here.
Access the full slide presentation here. Continue reading
A 5 minute definition of People Analytics for VPs, salespeople, hiring managers and job candidates alike. This is what you need to know:
15 second definition:
The practice of making data-backed people management decisions within an organization. Most frequently referred to in hiring, retention and absenteeism management.
Likely the offspring of Google’s People & Innovation Lab (PiLab), People Analytics first caught the attention of professionals early 2013 in a highly publicized article, How Google Is Using People Analytics to Completely Reinvent HR.
Related terms: #HRtech
, HR Technology
, HR Predictive Analytics, HR Big Data
Names to know:
Dr John Sullivan (@DrJohnSullivan
, Fast Company deemed him the “Michael Jordan of Hiring”, Staffing.org called him “the father of HR metrics”. Continue reading
Carolyn Lawrence, Leader of Gender Diversity and Inclusion at Deloitte, presents the 10 global human capital trends currently transforming the workplace.
Is your organization ready for these 10 trends? Carolyn delivers an overview of what every modern HR professional needs to know. Brush up on the new terminology and technology that will save you time, save you money and, most importantly, make your job easier.
In this 30-minute presentation on the top 10 human capital trends of 2016, Carolyn discusses:
the new organizational design based on cross-functionality
employee engagement and its correlation with workplace diversity and inclusion
digital HR and the changing skills of the HR organization
the increasing adoption of people analytics as a competitive advantage
and more! Continue reading