Data-driven staffing may be a new term for employers. Data-driven simply means making recruiting and hiring decisions based on data. As an employer, you probably do this daily as you create budgets, consider ROIs, and adjust accordingly. Many companies don’t realize the goldmine of information that data holds. By tracking data, you can save money and time. You can also increase the effectiveness of your current strategy.
Let’s discuss how SVS Group utilizes the power of data and causes it to work for you.
Cost-Per-Hire Analysis
If you’ve ever watched Shark Tank, you know each shark will ask about the cost of customer acquisition for every business. In recruiting, it’s no different. From application to onboarding and gaps in productivity, it’s crucial to know how much each new hire costs. Once you have this information, you can determine how quickly you need to hire someone. Spending the right amount of time and money on onboarding can increase your retention in the long term. At SVS, we analyze these metrics to help you find the most cost-effective strategy.
Proper Sourcing
It’s our job to understand the data behind which sourcing methods produce the most results. Maybe you’ve been stuck posting only on large sites like Indeed or in smaller pools of candidates locally. Data allows you to zero in on what’s working and what’s not. Once you know where the qualified leads are coming from, you can adjust your resources. Additionally, using a staffing agency gives you access to candidates that are already looking.
Retention Strategies
If you experienced a dip in your workforce, data-driven assessments can help you find the problem. Whether candidates weren’t thoroughly vetted or something went amiss, SVS can help. Additional questions and steps during the application process based on data can help you safeguard against making the wrong hire. According to Forbes, 63% of candidates cited a lack of growth opportunities as their primary reason for leaving. Surveys and data give you the information to find and keep great employees.
Accurate Forecasting
Data-driven staffing allows you to forecast with more accuracy. As you look at the overall data of your recruiting and retention plan, you will begin to see patterns emerge. While these can’t always be predicted, this overview helps you pinpoint what staffing needs your company will have and the risks involved. Forecasting staffing needs helps you stay prepared.
Contact SVS Group Today
These factors in data-driven staffing are just a few ways SVS Group helps you get results. We thoroughly consider your overall process and provide the necessary information to make informed decisions. Using data eliminates the guesswork. Let SVS Group help you avoid costly expenses and land quality team members. Contact our Northern California offices for more information!