Driving Greater Value for Clients with Data & Analytics

Driving Greater Value for Clients with Data & Analytics
In times of uncertainty and tight labor markets, we all have questions. What will happen next? Where has all the talent gone? The past two years have proven unprecedented. Indeed, the rapid turn of events caught most of us by surprise, yet there were trends pointing to the She-cession, Great Resignation, and the move to fully remote and hybrid workforces.

As we look forward to the future, recruiting professionals have the opportunity to help companies think strategically about talent access, rather than just filling job orders. HR departments today are overwhelmed with attracting and retaining talent, let alone putting a plan in place to engage and retain the best people long-term. Mired in the day-to-day of more jobs than they can fill, the time is right for talent advisors to step in and help.

If you’re eager to formulate strategies for your clients, candidates, or even your own recruiting firm, data will show you the way.

Looking forward to United 2022 Presented by People2.0, we caught up with Alex Chausovsky, Director of Analytics and Consulting at executive recruiting firm Miller Resource Group. Chausovsky will be taking the stage on Wednesday, May 11, alongside Bert Miller, President & CEO at MRINetwork, and two members of the talent intelligence software company ThinkWhy. Their session, “Compete for Today’s Talent: Building Talent & Location Strategies with the Right Data,” will focus on using data to become talent advisors, and helping clients to drive a winning talent strategy and differentiate themselves from the competition. Read on for insights from our Q&A with Chausovsky.

What Is a Talent Advisor?

Chausovsky uses the analogy of full-service realtors and the housing market to speak to the difference between talent advisors and recruiters. In the housing market, most people don’t know how to buy or sell a home on their own. They’re reluctant to navigate the complexities, and unsure how to time and price their sale or purchase for maximum gains. Realtors help with all of that. Similarly, talent advisors assist HR departments and hiring managers, guiding them through the currents of the job market, in order to stay relevant and competitive to attract and retain talent.

As Chausovsky explains, a talent advisor is essentially an advanced recruiting leader who puts together opinions on compensation, benefits, and other hiring strategies, while challenging clients’ interviewing and hiring processes with constructive guidance. Talent advisors dig deep into economic trends, market data, and projections, to help clients see where the market is headed, so that they can seize on various opportunities and possibilities. Talent advisors interpret different types of data to provide practical, actionable advice for organizations in a variety of industries and markets.

Driving Greater Value for Clients Using Data

In today’s candidate-driven market, recruiters that are great in identifying, pursuing, and convincing candidates to interview are in the strongest position to succeed. Looking to data and analytics for answers, talent advisors can offer clients enhanced insights and benefits including:

  • Highly accurate, current compensation data to structure competitive offers for current openings
  • An internal benchmarking study to identify potential turnover risks for current employees who may be getting a below-market rate
  • CLAMPS rankings to provide better insights into candidate priorities, to refine the interview process and increase the likelihood that candidates will accept offers
  • Tracking metrics for hiring, such as offer-to-acceptance ratio or interview-to-offer ratio

Forecasting What’s Next

Curious where the market is heading, and how recruiting firms should prepare? Stay tuned for Part 2 of our Q&A. Also, be sure to register for United 2022 to catch Chausovsky’s session.