Unlocking the Power of Talent Data: TTC x Pinpoint Expert Webinar

In a rapidly evolving talent landscape, organisations have recognised the increasing significance of harnessing and analysing talent data. TTC (The Talent Community) and Pinpoint hosted a webinar that delved into the world of talent data, providing valuable insights on how to use it effectively to align with business needs.

The discussion covered essential topics, including the foundations of good reporting and what leadership teams truly want to know about their talent functions. Panelists Tom Hacquoil, CEO of Pinpoint; Harriet Ball, Head of Talent at SuperSeed VC; and Philip Smith, Client Services Director at Instant Impact shared their expertise, providing actionable strategies to transform data into meaningful insights.

1. Strategic Importance of Data:
   • Data plays a crucial role in transforming perceptions of the TA function from merely filling roles to being strategic partners within organisations.
   • Gathering insights from candidates during the hiring process can reveal valuable competitive intelligence about industry trends, challenges, and opportunities.
2. Data Collection and Reporting:
   • Organisations should maximize the use of their existing data to provide insights that benefit other departments, leading to more informed decision-making.
   • It’s important that TA teams go beyond basic KPIs and understand the qualitative aspects of hires, such as performance and retention.
3. Tools and Methods:
   • Effective reporting relies on leveraging a blend of tools, including ATS (Applicant Tracking Systems), external data sources, and visual dashboards for better analytics.
   • It’s crucial to integrate pre-hire and post-hire data to measure quality of hire accurately. This includes tracking employee performance and retention to optimise hiring strategies.
4. Practical Steps for Improvement:
   • Organisations should evaluate their ATS capabilities and consider modern alternatives that offer better data insights.
   • By developing a narrative around collected data and ensuring consistent metrics across different hiring processes, teams can present clearer insights that drive business strategy.
5. Engagement with Stakeholders:
   • Building credibility with senior leadership involves presenting comprehensive data analyses that inform strategic planning, such as market expansions and talent needs.
   • Encouraging TA professionals to ask the right questions and engage in meaningful conversations with stakeholders can elevate their role within the business.
6. Quality of Hire Measurement:
   • Measuring quality of hire encompasses both quantitative data (e.g., tenure, progression) and qualitative feedback from hiring managers and candidates.
   • A thorough evaluation process after hiring, including performance reviews and return on investment analyses, helps assess the effectiveness of hiring practices.

As the talent landscape continues to shift, the ability to harness and analyse talent data is a crucial factor for success. Leveraging data effectively in talent acquisition not only improves hiring processes but also enhances the overall strategic position of TA teams within organisations.

By focusing on actionable insights, integrating various data sources, and engaging stakeholders effectively, TA professionals are empowered to make more informed hiring decisions that contribute to long-term success.

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At Instant Impact, we’re committed to helping businesses optimise their talent acquisition strategies through data-driven insights. If you want to find out more, read our collab article - How to Get a Seat at the Boardroom: The Recruitment Insights & Data the Business Really Wants.