An effective enterprise RPO allows organizations to leverage data and market knowledge to boost talent acquisition effectiveness.
By Maggie Mancini
Today’s leading organizations rely on data analytics and market knowledge to drive informed decision-making and enhance business strategies. Recent research confirms this: Deloitte finds that 69% of organizations report data analytics has helped them improve their decision-making processes and McKinsey & Company reports that 82% of top-performing companies use data analytics to drive strategic decisions. This is true across all pillars of organizations.
Real-time business intelligence is critical to proactive hiring strategies. A detailed view of data from an RPO provider can help TA leaders gain insight into many facets of talent trends, including candidate supply, pipelines, hiring forecasts, and market information.
“One of the things that an RPO can provide TA leaders that a staffing agency can’t is data analytics and a solid technology footprint to benefit hiring,” says Stephanie Hanson, a data and intelligence expert at Sevenstep, a KellyOCG® company. “There should be data and market knowledge that is much more than what an internal talent acquisition team has at their disposal.”
“Access to data and analytics is important to success,” she adds, “but the real value employers should expect from an outsourced workforce solutions partner is how they use that data. A quality provider should bring the technology and expertise to integrate those many data points to inform a specific strategy. This approach could help target a specific region or hiring class, determine competitive rates, and even predict where the most impact can be achieved in the shortest amount of time. Do not settle for reporting about the past; look for a partner that can help you see the road ahead.”
This level of data access comes with helpful analytics, particularly if the organization is looking for seasonal hires or entering a new geographic location. “These data points,” Hanson explains, “can guide the talent acquisition team to optimize their strategy. For example, a company engaged in a recruitment partnership can utilize data points from their third-party RPO provider to evaluate market conditions in a region where they’re looking to hire for the first time, or they could use data to diagnose and solve recruiting issues for consistently hard-to-fill roles.”
“Some of our newer clients may not realize the level of data analytics that we have access to,” she says. “And I always enjoy the conversations where I can help shift their knowledge base a little bit about what it can mean to utilize a solution for their needs.”
Hanson points to her company’s Sevayo® Insights solution, a proprietary data integration and analytics platform that enables organizations to leverage real-time business intelligence to identify and address obstacles, track talent trends, forecast hiring and manage multiple aspects of their TA and management functions in one program. “The data integration aspect of our talent acquisition solutions makes a difference in connecting the dots,” she notes. “Candidate supply, market information, internal and external systems, our own hiring data—all contribute to informed answers and reliable, effective hiring strategies.”
Hanson points out that when HR and TA leaders leverage data analytics and market knowledge as part of an outsourced workforce solution, “It helps the process along and helps everyone make more educated decisions as part of that process.”
