Data and Analytics

 
In 2012, “big data” was mentioned in 2.2M tweets by 980,000+ authors, at a peak rate of 3,070 times per hour!
However, as is often the case with relatively new and nebulous concepts, there is quite a bit of confusion surrounding big data and Moneyball and how they can be applied to HR and recruiting, as evidenced by the obviously incorrect usage of the terms in many cases. It’s also nearly impossible to stay on top of all of the content being generated on the subject (although I am trying my best!).

This is precisely why I’m going to take the opportunity to clear up any confusion by concisely explaining the concepts of big data, analytics, and Moneyball as it relates to HR and recruiting, as well as illustrate some obviously incorrect references to these concepts in recent articles, including those from the Wall Street Journal, Forbes, The Economist, The New York Times, and more.

The Hall-of-Famer Ted Williams famously said baseball is “the only field of endeavor where a man can succeed three times out of 10 and be considered a good performer.”
Maybe not the only one: The same could be said for hiring.

Surveys in the HR Market
I was complaining to a colleague about the heaps of misinformation in the marketplace. She was quick to correct me. “Marketing surveys delivered by vendors and consultants provide valuable information. You just have to remember the source.”

This article is going to focus on numbers that HR should be putting in front of executives and investors that really do matter to the business models of most companies. Think of it this way, if you are doing something great from a HR perspective that is making your human capital (your company's assets) better in some way - then don't you think your investors care? Don't think of this from a risk perspective (e.g. you could lose investment) but think of it from a positive perspective - it could make your CFO and Company better due to the ability to have a great Human Capital strategy. Because here is the newsflash - the analyst and investor community are already doing it - they are just guessing. One of previous articles explain how most of a company's stock price has nothing to do with book value - it has to do with what the people are doing.

Mobile …finally! DNA footprints in the cloud; recruiting back to basics: getting to know the candidate; the end of the traditional ATS; emerging markets dominate; augmented reality; disruptive marketing and stunt PR; the end of social media; candidate cloning and the end of recruiters as we know it!

I was cleaning the attic the other day when I discovered a book that Kevin Wheeler and I put together back in the fall of 2001. This dusty tomb provided me with a treasure trove of insight along with a good deal of food for reflection.
Our book, titled “ Screening and Assessment: Best Practices” includes a variety of information about screening and assessment tools including the results of a usage survey examining use patterns for assessment tools, a summary of best practices for screening and assessment, and predictions for the future.

Thus grief still treads upon the heels of pleasure; Married in haste, we may repent at leisure. –William Congreve, 1693
If you work from a job description only to find it does not correctly define candidate requirements; if you send multiple candidates to the hiring manager only to him/her complain about wrong-skilled people; if turnover stubbornly stays high; if too many people fail training programs; if newly promoted managers fail on the job; if 80% of salespeople produce only 20% of sales, or if half the people you hire tend to sink to the bottom of the pool, then William Congreve defined your problem over 300 years ago.

As I continue to attend conferences and hear awesome speeches about analytics such as the one by Josh Bersin, I am thoroughly convinced that talent acquisition (testing and assessment included) are at the beginning of a new era. The coming decades will represent not just a new era for testing and assessment, but rather its “golden era.” I began talking about this trend almost a decade ago, and I continue to watch for signs of the major transition that is currently underway.

The integration of new talent, whether promoted from within or hired from outside the organization, represents a critical career inflection point for the new employee. Too often this process is overlooked in small businesses or simplified in larger organizations through a quick orientation or onboarding process.

Resumes are dead. Interviews are largely ineffectual. Linked-In is good. Portfolios are useful.
But projects are the real future of hiring, especially knowledge working hiring. No matter how wonderful your references or how well you do on those too-clever-by-half Microsoft/Google brainteasers, serious firms will increasingly ask serious candidates to do serious work in order to get a serious job offer.

LinkedIn is introducing something it calls “Targeted Updates” and “Follower Statistics” with a select group of early release partners, kind of like it tested the “Pipeline” product with a charter group.

Many job seekers have long suspected their online employment applications disappear into a black hole, never to be seen again. Their fears may not be far off the mark, as more companies rely on technology to winnow out less-qualified candidates.
photo courtesy of ToobyDoo

Does it pay to recruit from -- or even go to -- a prestigious university? There have been a number of studies that follow the careers of students who attended elite universities and those who just missed the criteria for admission.