My math teacher once challenged our class to go to school for an entire day without using numbers to guide our decisions. Try as we might, no one was able to give a scenario that did not require numbers in some form or another. This was of course her point.
Data guides our every day decisions both in business and life. Data makes our lives easier by answering questions like:
- Do I have enough gas in my tank to get to work?
- Will that new suit or dress fit?
Now think about using data in terms of guiding your next hiring decision. According to the breakdown in this article, the estimated cost for an employee making $60,000 a year is $150k.
You can buy these for $150k:
Then, if the employee does not work out you are faced with repeating the whole time consuming and expensive process again. No one wants that; whether it’s the hiring manager, employee, or the business.
The equivalent to hiring without talent data:
- Buying a company without conducting due diligence
- Entering a new market without gathering data on the competition first
- Expanding globally without researching the local business environment
The key takeaway: talent data should guide – but never decide – your next hiring decision. And every decision thereafter.
Want to learn more about the Balanced Hiring Scorecard?
Here is how the Balanced Hiring Scorecard in Advisor 3.6 might look like when hiring a sales candidate:
If you’re ready to leverage analytics and conduct your talent due diligence, get in touch today to learn how the BHS can guide you into making a more balanced hiring decision.
Mike Kennedy is a Technical Evangelist at Talent Analytics, Corp. He can be reached via email@example.com .