There are usually two types of business interventions.
One applies to those that need to avoid or solve something, and the other to those inspired to create and capitalise on something.
An intervention also has a way of highlighting areas you might not have first considered.
Data analytics in recruitment is still very much in its infancy but it holds the key to these four worthwhile data intervention strategies for forward-thinking agencies.
The 4 Signs Your Recruitment Agency Needs a Data Intervention…
YOU’RE DATA RICH BUT INFORMATION POOR
Recruitment agencies have the opportunity to collect enormous amounts of data across multiple engagements and numerous channels.
You might know your agency is sitting on a deep data mine but have no idea of how to effectively pool it or mine it.
Imagine how powerful your CRM would be if you were confident that the information was rich, accurate, complete and that there was plenty of it.
Or, if you could map the successful activity of your top billers and identify the actual KPIs to create your top billers of tomorrow.
An analytics platform is there to help translate information into intelligent insights, and it’s these that have a direct effect on processes and revenue.
YOUR REPORTING EATS INTO SALES TIME
Can you analyse the data without a team of analysts to help you?
The quality of the data being logged is just as important as the ability to easily translate and digest it. If you rely on your IT department, or reporting eats into your own or your team’s work time, then your processes need to be improved.
Technology is here to enable recruiters and allocate their resource to where it’s best spent – building relationships and billing.
- Can you remove the manual elements with automation?
- Could you integrate your systems so that there aren’t data silos in your company?
- Would an analytics platform streamline the entire process for you?
Data is a depreciating asset, so drawing a report over several weeks means you’re working with devalued information.
Agencies need real-time insights that can quickly be pulled from their systems. As it stands, only 17% of agencies are capitalising on real-time reporting to shape their business decisions.
YOUR DATA PROCESSES AREN’T SCALABLE
Reporting through an Excel spreadsheet with manual data management sitting behind it, will always stutter to accommodate rapid growth.
As with any business, you have to ask if your processes are built to scale.
Can you confidently keep your team engaged and monitor their performance when you’re too big to be there overseeing in person?
Some analytics platforms will arrive equipped with the ability to centralise and visualise your company-wide activity, so that everybody is accountable for their performance. The whole process of data analytics from entry to reporting to actions, needs to be communicated.
It allows you to move your eyes from the office floor towards scaling your agency’s growth and revenue streams.
YOU’RE UNSURE OF YOUR KPIS
How do you really know that your KPIs are working?
When recruitment activity fails to meet targets agencies have often poured more into the funnel. Few agencies are really breaking down the recruitment activity that goes into that success.
A good BI tool will break down the trends in your data and isolate where your recruitment activity needs improving, it will look at where the ratios really matter and where the data is falling short.
Partnering with an analytics platform is the difference between running a company on gut instinct and running your agency with intelligence to support those gut decisions.
If these are signs that you’re seeing in your agency then it might be worth a conversation with cube19.