Talent Acquisition Effectiveness - From The Lens Of Descriptive Analysis

Data collection process for any study is followed by statistical analysis. The preliminary stages of any
statistical analysis involve descriptive statistics. Descriptive statistics help in highlighting specific
features of the data, and these features can be presented through tables or graphs. An analysis can
be started by assessing graphical representations of a data set and further calculating some basic
descriptive statistics to gain a better understanding of the data. The final result of any statistical
analysis can only be descriptive statistics, graphs and charts. For example, a hiring manager might
only be interested in assessing how many people cleared each round of interviews from the campus
interview and whether some technical training modules can be given to candidates who are HR fit
and have cleared the aptitude test but have barely managed to pass the technical test round. If the
number is not too large and training is not extremely expensive, such candidates can be a good pool
to further select the candidates. In this case, the hiring manager does not need this data to predict
something but simply calculate basic descriptive statistics and display the information to be
highlighted through graphs.

Let’s understand this through another example of Ranjit.

Ranjit is a hiring manager of an IT company; he wants to evaluate the effectiveness of his recruitment
sources for the financial year 2019–2020. Given below is the data and charts based on which
effectiveness of each hiring source can be evaluated.

Average of Profiles
Row Labels Generated
Campus 975
Job sites 824
Walk-ins 484
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AI 398
Grand Total 670.25

From the data and the charts provided above, it can be inferred that the maximum number of
applications are received through campus and job sites. The maximum number of selections are also
from campus and job sites. So, the charts and graphs help in making deductions immediately and
based on this, further slicing of data can be done to get various ratios such as yield ratio and offer
ratio. So, descriptive statistics are extremely helpful to understand the specifics of data.

Talent Acquisition Effectiveness - From The Lens Of Predictive Analysis

Many human resource issues are repetitive in nature, and investing time and energy in dealing with
similar issues can be very unproductive. This leads to needless consumption of scarce resources that
can be utilised in a more efficient manner. A better way of handling these issues is to analyse the
problem, determine the specific issues of the problem by data collection and highlight the figures
that are anomalous. This can be done through descriptive analysis. Further analysis can be done to
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predict the future outcome of such anomaly and determine whether there would be a significant
effect of the aberration. Predictive analysis tools such as regression can be used to solve these
problems, and finally, a solution can be designed for fixing the issue, and a remedy can be planned to
eliminate a recurrence of the problem (prescriptive analysis).

Predictive Analysis

Predictive analysis uses statistical tools like regression and structural equation modelling. These
tools use current and historical data to make predictions about the future. However, these
predictions are about probabilities and potential impact. They involve, for example, models used for
increasing the probability of hiring the right people, and measures of employee engagement and
potential attrition in future.

In the example given below, multiple regression is used to analyse the effect of some parameters on
the total selection score and predict whether these scores would have an effect on future selection
scores as well.

Hrishita is an HR manager of an IT company called Galaxy, which is an extremely innovation-centric

organisation. Traits such as being collaborative, imaginative, goal-driven, experiential and inquisitive are
highly valued in her organisation. These traits are measured through various tests during selection, and
each trait is assigned certain scores. Hrishita wants to analyse whether being collaborative and
imaginative has any impact on the total employee index score. This can be done with the help of
multivariate regression analysis.

 his example shows you step by step how to run an Excel multiple linear regression analysis and how
T
to read the summary output. The objective is to predict the employee innovation index score based
on collaboration and being imaginative score.

Step 1: Copy the data provided above in an Excel sheet.

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Step 2: Click on the ‘Data’ tab, and then, click on the ‘Data Analysis’ tab.

Step 3: Select ‘Regression’ and Click ‘OK’.

Step 4: After you click ‘OK’ in the ‘Data Analysis’ dialogue box, you will see a ‘Regression’ dialogue
box.

Step 5: For ‘Input Y Range’, select cells (D1:D11). This is the predictor variable or dependent
variable.

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 tep 6: In ‘Input X Range’, select cells (B1:C11). These are the predictor variables or independent
S
variables.

Step 7: Check the ‘Labels’ box.

Step 8: Check Confidence Interval at 95%.

Step 9: Click the ‘Output Range’ box and select the new worksheet PLY.

Step 10: Click ‘OK’.

After you click ‘OK’, Excel generates the following Summary Output.

Statistics to be reported:

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 1. R Square: R Square is 0.87, which depicts that 87% of the variation in the employee
innovation index score is due to the traits of collaborativeness and being imaginative.

2. S
 ignificance F and p-values: To determine whether your results are statistically significant,
check ‘Significance F’ (0.001). If the value of Significance F is less than 0.05, it is statistically
significant (i.e., reliable).

3. M
 ost of all your p-values should be lower than 0.05. In this example, the p-value is 0.00, which
signifies that independent variables have a significant relation with dependent variables.

4. From the Summary Output, the equation for regression line is as follows:
Employee Innovation Index Score = -7.387 + (1.24 * collaboration) + (1.063 * Imaginative)

5. Coefficients: Based on the regression formula given above, the following deductions can be
made.

6. F
 or each unit increase in the score of collaboration, the employee innovation index score
increases with

1.24 units.

7. For each unit increase in the score of innovation, employee innovation increases by 1.063
units.
8. Coefficients can also be used for forecasting.

For example, if the score for ‘collaboration’ is 28 and that for ‘imagination’ is 22, which is
predicted by substituting the values in the regression line equation, the predicted employee
innovation index would be calculated as follows.

Innovation Index = -7.387 + (1.24 * 28) + (1.063*22) = -7.387+34.72+23.38 = 50.72

Additional Readings

● https://www.dummies.com/programming/big-data/data-science/predictive-analytics-for-du
mmies-cheat-sheet/
● https://sightsinplus.com/hrtech/talent-analytics-from-buzzword-to-reality/
● https://www.google.co.in/url?sa=t&rct=j&q=&esrc=s&source=web&cd=&ved=2ahUKEwjcorr
L46byAhVjmuYKHRNLDmYQFnoECAMQAQ&url=http%3A%2F%2Fwww.pwc.in%2Fghost-t
emplates%2Fusing-advanced-analytics-to-make-big-decisions.html&usg=AOvVaw3enDz9fB
k-eJOIvQbf5-Ho
● https://www.forbes.com/sites/forbeshumanresourcescouncil/2020/01/15/13-ways-hr-team
s-can-benefit-from-workforce-analytics/?sh=1

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