We've talked about the need for analytics talent, most recently just this week, but we haven't broached the topic of talent analytics. Until now, that is.
I talked yesterday afternoon with David Martinsen, senior manager of business intelligence at The Results Companies, a customer relationship management (CRM) partner for a variety of major-label companies. In other words, the call-center agent or service rep on the other end of your line may well be a Results agent. It has between 5,000 and 6,000 employees, depending on the season, Martinsen told me.
In this kind of business, people are the biggest resource. Unfortunately, attrition happens. A lot. And it's costly.
"So anything you can do to hire the right people up front will have a major impact on costs. If you can retain them longer, again you can lower the costs of recruitment and replacement," Martinsen says.
Finding the right people for the job has other benefits, too. When the fit is right, not only does Results see longer rates of employment but better work, too. "Customers are more satisfied, and the agents are more efficient in their calls -- and all those help us meet our goals for our clients."
Naturally, Results is always looking how to take its business to the next level. Last year, that led the company to seek ways of improving its recruiting processes so it could bring in the right talent, Martinsen says. For that, it turned to talent analytics delivered as a service. It wanted the capability, but not the work involved in developing it internally.
Startup Evolv offers what it calls data-driven workforce selection. The company describes the process this way: It analyzes data collected during the application process, correlates that data with job performance, and then uses insights gained through those correlations to predict employee fit.
For Results, the talent analytics service has helped take recruiting data out of a "black hole," Martinsen says. "Overall, we want to make sure we're tracking and able to report on data at any level of the employment lifecycle, and before we did this the recruiting process was like a black hole with too many unknowns to be of use in reporting."
Now Results has scores and can look at the impact of the recruiting efforts. So far, so good. "From Day One, Evolv made all of our recruiters smarter."
And smarter recruiters, armed with standardized questions and processes to follow, can make smart, data-driven decisions regarding potential hires. The proof is in the stats, Martinsen says.
In the year or so that Results has been using talent analytics, it has seen positive impacts on:
- Retention. Thirty-day retention rate has improved by 12 percent, with an 8 percent improvement in the number of employees who hit the 90-day mark. That's big in this field, Martinsen says. "Somewhere between 60 and 90 days there is a big shift in the likelihood that an employee will stay long term. Those are important tollgates for us."
- Customer service. People hired through Evolv rate 10 percent higher on internal quality scores. "The customer experience is a key selling point and our value add. This is a major improvement."
- Agent productivity. Agents are handling 15 percent more calls per hour than previously. "People hired on Evolv are more efficient and skilled." They also adhere to client schedules better, with Results noting a 6 percent improvement here.
Talent analytics sure seems to be working at Results, which Martinsen says expects to see continued improvement as it sends more and more users through the Evolv data-driven hiring process. If you've got experience with talent analytics, share on the message board below.