Finding and retaining great talent today is challenging. Not only do Millennials expect more from employers, they expect more from their careers. The growing talent shortage is nothing to sneeze at either: in 2016, 68% of surveyed HR professionals found it difficult to fill full-time positions. Finally, there’s the shocking skills shortage: 84% of HR professionals reported seeing applied skill deficits (such as problem-solving skills) in candidates in the past 12 months.
That’s why vanguard companies looking to hire top talent are doing far more than recruiting on LinkedIn and analyzing hiring metrics. Instead, these forward-thinking organizations are turning to analytics to find better candidates faster and at a lower cost.
While every HR team already depends on metrics—e.g., cost to hire, days to hire—there’s a crucial distinction between metrics and analytics. If metrics show what happened, analytics helps HR understand why it happened (and in the case of predictive analytics, what might happen next).