How many times has someone said something to you and followed their statement up with “trust me, I know what I’m talking about”? In the case of big data analytics, this phrase is synonymous with the information and statistics being relayed to you. However, there are people who struggle with trusting their own data over their gut instincts when it comes time to make a decision – and in regards to talent acquisition, that distrust can be disastrous.
Trust Issues with Data Analytics
Big data and data analytics are among some of the biggest challenges for organizations to undertake due to a lack of resources and understanding, and yet it’s recognized as being highly important to a company’s overall strategy. Being able to capture, interpret, and correctly apply and repurpose data to drive business results can be a monumental challenge in and of itself, but then comes another challenge – trusting the data over your gut instinct to make informed decisions.
Examples can be found in all aspects of business. One study by Christoph Schneider and Oliver G. Spalt found that in finance found that, even with qualitative data available to CEO’s, many business leaders will trust their gut over their data when it comes to investment decisions. This, according to Schneider and Spalt, is problematic because of the “overwhelming evidence from psychology and economics suggesting that intuitive reasoning in financial matters leads to biased and therefore suboptimal decisions.” In other words, even with trustworthy data, C-level executives still have a hard time trusting that information over their gut, which leads to subjective decisions and lower results.
Trusting Talent Analytics with Hiring Assessments
There’s no shortage of obstacles when it comes to implementing a meaningful data analytics strategy into your organization, but trust issues should not be one of them.
There’s already solid evidence not go strictly with your gut in talent acquisition; chief of which is trusting real-world evidence on whether or not a candidate is qualified versus a “good vibe” the candidate can bring to an interview.This means areas like work experience, skills, and references are all trustworthy over a “gut instinct” you might have about a candidate. But more powerful, insightful, and trustworthy than any of these is your organization’s hiring assessments.
A well-built set of hiring assessments – from personality tests to job simulations – can do two key things for your organization. First, it can provide trustworthy, reliable data that can be analyzed and leveraged in a hiring decision. Qualitative data that comes from an assessment designed for your specific job families can provide unbiased measurements of the candidate’s skills, motivations, and abilities to perform the job they’ve applied for – and therefore give you the opportunity to make an informed, data-driven hiring decision. Second, it can help build a strong data foundation for future big data purposes such as hiring process improvements, different skills and personality traits to target in future candidates, and acts as a resource to help identify which candidates will perform better than others.
Trust Your Data, Get Better Results
Trusting data as part of your talent acquisition strategy can sometimes feel like a “leap of faith” but it’s important to keep in mind that this data isn’t coming from out of the blue. The data you build from your hiring assessments is giving you what you need to make informed decisions, and if your pre-hire assessment process is designed well then there’s no reason not to trust it over a gut feeling.
Ready to take on analytics, but not sure where you can start with the hiring process? Read our whitepaper below on how simulations help you hire better to learn more.