Utilising technology and talent analytics in an MSP
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UTILISING TECHNOLOGY AND TALENT ANALYTICS IN AN MSP
We've been providing workforce solutions globally for over 50 years, designing our services to help clients thrive in an increasingly complex world of work. Technology drives change in the workplace and now, technology and talent analytics are increasingly important to everyday MSP service delivery.
As data and recruitment analytics grow, tracking data has become essential to prove a return on investment. Our experts believe that every recruitment process should take a data-driven approach.
Read on to learn more about the benefits of analytical tools for recruiting and managing talent.
How does a Total Talent MSP work?
There are three major elements in a Total Talent MSP, which provide clients with better access to talent. An analytics-informed Total Talent MSP includes:
- Staffing Supplier Enablement: A programme to inform and engage our vendor partners. We want suppliers to be excited and committed to providing the best talent for our clients.
- Extended Supply Chain: A strategy to expand and optimise the mix of traditional and alternative talent. We focus on Statement of Work, service providers and online marketplaces while ensuring compliance and governance.
- Direct Sourcing: An outsourced recruiting solution to leverage our client’s brand, for building and engaging with a talent community. This community helps to source workers at a lower cost and with faster productivity than traditional staffing suppliers.
Technology and talent analytics are now essential in an MSP
The additional building block of a Total Talent programme is technology and talent analytics. As data-literacy grows, talent analytics are proving to be a necessity in any MSP. Recruiting metrics are becoming common parlance and managers will rely on data to prove ROI (return on investment).
Real-time data capture from an analytics-first MSP supports rate card development and market benchmarking. Utilising this data will enable valuable insights on worker availability, robust reporting, and data-driven decision-making.
Ultimately, HR analytics in recruitment should form the foundation of your technology-enabled service delivery. Not only will accurate data analysis increase productivity, but it will also help to demonstrate ROI.
The benefits of Total Talent MSP
In the modern world of work, it's essential to incorporate HR analytics in recruitment and workforce management. By providing businesses with data-driven insights, a Total Talent MSP can help to improve hiring strategies. Some of the benefits of investing in HR analytics include:
- Driving efficiency: Leveraging technology and talent analytics helps to streamline the hiring process, ensuring fast results across the enterprise program.
- Optimising decision making: Using cutting-edge technology supports cost-effective hiring choices.
- Adapting to market changes: Capturing recent insights ensures businesses can respond quickly to shifting market conditions.
When built on open communication, transparency, and true partnership, Total Talent delivers the vision of “MSP v4.0”. This approach helps organisations to attract and retain the talent they need today and for years to come.
How does technology improve workforce management?
A successful approach to talent analytics depends on a strong technical foundation. The right technology tracks, monitors, and optimises the workforce, helping businesses to make smarter decisions and stay competitive.
The rising competition for talent and rapid advancements in technology have created both challenges and opportunities in service delivery. Vendor Management Systems and Applicant Tracking Systems have traditionally managed the end-to-end process for bringing new contingent and permanent workers into the organisation.
Today, these systems act as central hubs, integrating additional solutions for talent attraction, selection and onboarding. In addition to VMS and ATS, modern talent strategies also incorporate the following for a more comprehensive approach:
- HRIS systems
- Online staffing platforms
- Freelancer Management Systems (FMS)
- Marketplaces
- Social media
We combine proven recruitment strategies with cutting-edge technology to find the best talent for any role. By partnering with LinkedIn, Google and other recruitment analytics providers, we use data science and AI to improve our hiring processes.
Investing in automation for back-office tasks, elastic search, semantic intelligence, and machine learning applications can vastly improve efficiencies. This is the approach we take at Hays. Talent analytics ensures we maximise efficiency and access qualified candidates.
The importance of data analytics in recruitment
HR analytics can guide clients to be more agile, more responsive, and to improve their ROI. We recommend all clients to review ROI regularly, by tracking KPIs such as cost per hire, quality of hire, and employee retention rates. Analysing these recruitment metrics will underpin hiring decisions that are financially secure and aligned with long-term business goals.
At Hays we’re “in the business of change”. Whether that’s helping a company to develop a workforce strategy, launching a new program, or improving an existing one. Our technology-driven solutions give clients a competitive edge and support their long-term success.
How do Hays utilise talent analytics?
We build our strategic approach on data-driven consulting. Before designing a workforce management program, we use our diagnostic tools to understand the current situation.
Reviewing talent analytics helps us to identify the current state, the desired future state, and any obstacles in between. We review analytics to identify priority areas for improvement and any major drop-off points in the recruitment journey. We then compare our data with wider market insights, including our experience across a range of industries and organisations. Finally, we focus on change management and program adoption to ensure the program meets its objectives.
This proven methodology allows us to design and implement effective workforce management programs quickly.
Adopt analytics in talent management today
The job market is changing quickly, and businesses need to adapt to keep up. With our experience, talent analytics and market insights, an MSP can help companies to navigate the talent landscape.
Applying data analytics, we help your hiring team to make smarter decisions in attracting and retaining talent. Speak to our team to find out more.