The Future of Talent Analytics and the talent acquisition trends that affect that future were two main aspects of the research and subsequent webinar presented by the Founder of Aptitude Research, Madeline Laurano. Laurano is a vet of the talent acquisition research and consulting industry and is one of the sharpest minds in the business.
In the webinar “The Future of Talent Analytics and The Power of a Positive Experience” Laurano presented the large audience with her latest research on the state of current talent analytics, the trend of combining operational data with qualitative data, and how this combined approach can affect outcomes throughout the talent journey from candidate experience to ongoing employee experience.
I was first exposed to Madeline’s research during the Summer and was floored with how well her research lined up with what we see happening with Survale Talent Feedback Platform clients. So Survale sponsored the webinar and CEO Jason Moreau joined Madeline for the presentation.
Laurano points out that the two most pressing talent acquisition trends are a lack of access to, and trust in, operational talent analytics, and the fact that organizations know that talent experience is a key driver of retention, but they are losing employees without understanding how talent experience is affecting this attrition.
Her research shows that while 50% of organizations are investing in talent analytics,
- Only 1 in 3 companies use performance data in their TA
- Only 1 in 2 companies trust the source of their data
And the stakes are high. As Laurano points out, her research shows that HR professionals aren’t satisfied with any one aspect of their talent analytics, with data accuracy and quality each barely reaching 30% satisfaction. That’s 70% of organizations dissatisfied with their talent analytics.
Of the 157 million employed in the U.S. today, more than half are hourly workers, one of the toughest segments of the workforce to recruit these days. Laurano also points out that 5 million women left the workforce this year and 61% of the workforce is working from home.
Experience Analytics Matter
HR leaders are scratching their heads about the precise impact of these trends, yet only one in three organizations trust their talent data to tell them what that impact is. Each of these segments present their own challenges, yet as Laurano points out, most organizations provide each of these segments with the same one-size-fits-all experiences.
In analyzing how experience and the ability to understand experiential data impacts outcomes, Laurano cited candidate experience as an example. Research shows that a positive candidate experience:
- Is twice as likely to boost candidate NPS scores
- Is three times more likely to improve employee retention
- Is twice as likely to improve employee performance
It’s easy to see that the more organizations can understand their talent experiences and optimize these experiences for different employee segments, the better they can expect their talent performance outcomes to be.
And, on the off chance we experience a global pandemic, an economic crisis, a mass shift toward remote employment, a great resignation and a baffling scarcity of talent, the ability to understand your talent experiences in real time is a great organizational competency to have.
Unfortunately, the data shows that this is not the case. A full 25% of organizations report having a lack of understanding of their employee experiences. And I will just tell you that, in my experience, that number is probably closer to 90%. If we asked the 75% of organizations who believe they do understand their employee experience for data to back that up, I guarantee you would hear crickets or be looking at a bunch of old, unidimensional survey responses.
As we at Survale like to say, everyone thinks they know what’s going on with talent, few really have any relevant data to back that up.
We really enjoyed presenting this webinar and providing some great data and talent acquisition trends to HR professionals. To view The Future of Talent Analytics on demand with no registration required, click the button below.