HRO Today May 2020 - 13
SPECIAL SECTION: MANAGING DURING UNCERTAINTY
The Value of Candidate Experience
Benefits of Success:
* Highly engaged new hires
* Candidate referrals that generate more qualified and interested
candidates
* Heightened sense of pride and connection to company culture and
values
* Better perception of company brand
* Reduced turnover
* Increased job performance
* More efficient and effective recruiting and hiring processes
Price of Failure:
* Less productive funnel of candidates
* Higher talent acquisition and candidate generation costs
* Disconnect between organizational values and candidate values
* Early turnover
1. Adopt a data-driven approach. Data and analytics can
offer insight into talent pipelines, helping organizations
recruit best-fit talent. According to Shaw, HR leaders
should examine their existing candidate pool to
determine which roles they can fill internally before
going to market.
His company leverages both internal and external data
to build a talent plan that can support the business.
Internally, the talent acquisition team looks at turnover
and demographic data to determine where the
workforce is growing, where it is contracting, and how
it aligns with the broader business plan. From there, it
collaborates with the senior leadership team to identify
high-growth roles that require a stronger pipeline.
Externally, the Canada Life team uses LinkedIn Insights,
a data warehouse tool, to stay abreast of industry
trends and find where disruption is occurring among
its competitors. By analyzing demographics and
compensation, the data shows where talent exists and
what is required to attract them.
Valvoline also relies heavily on data, with Dawson
emphasizing that " what gets measured, gets better. "
For example, the organization developed a predictive
algorithm for the hiring of automotive technicians in
its " Valvoline Instant Oil Change " service centers. By
working with a partner to evaluate years of historical
data on employee performance, the hiring team was able
to identify 30 potential predictors of future on-the-job
performance, which were then applied to the highestand
lowest-performing team members. The resulting
analysis narrowed down the field to 12 predictive factors,
including things like work ethic, learning mentality,
service orientation, and process orientation, that were
then integrated into the application experience via
situational judgment scenarios.
" After months of hiring using this predictive algorithm,
we were able to validate that the model was accurate, "
Dawson says. " In fact, it proved to be far more predictive
than we hoped for in our first round. We are now
entering our second phase of this project-a period
during which we will further refine the algorithm to be
an even more accurate predictor of future success. "
Another way the company has leveraged analytics to
MAY 2020
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HRO Today May 2020
Table of Contents for the Digital Edition of HRO Today May 2020
HRO Today May 2020 - 1
HRO Today May 2020 - 2
HRO Today May 2020 - 3
HRO Today May 2020 - 4
HRO Today May 2020 - 5
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