ROI Focused Analytics
What are ROI Focused Analytics
We’ve all heard how important data and analytics are for today’s business leaders. However, while many offerings show off various datapoints, much of these are simply vanity metrics that are very hard to tie back to dollars and cents.
We find that HR leaders who are able to build a robust business case, and then track the outcomes of their efforts, have more strategic influence.
ROI focused analytics take metrics, and then tie them back directly to an actual return on investment, in terms of money earned or saved. For example, if I spend $100, I don’t want to know I got 30,000 views or 10 clicks, I want to know that I earned or saved $500 and therefore made a 400% return on my initial investment.
NextWave’s ROI Focused Analytics
NextWave Hire has built an analytics package that gives the end user an overview of how their career site is performing, and then ties that back to how much you’ve actually earned or saved with your efforts. In addition, we have a unique insight into the candidate’s journey as they understand your company. This intelligence allows us to make improvements to our recruitment marketing efforts.
See Analytics In Action
The Benefits of ROI Focused Analytics
HR leaders who have the proverbial seat at the table are building business cases for their strategies and tactics that relate back directly to the goals of the business. Showing the effectiveness of your efforts in terms the C-Level cares about is key to gaining more authority in the organization.
Understand What's Working
Talent acquisition analytics that focus on getting to a trackable return on investment allow us to see in more depth what tactics and experiments are working, and which aren’t. These insights allow for more informed decision making when developing our future plans of attack.
Knowing which pages and content are performing the best allows you to know which strategies are working the best. Conversely, identifying which areas need more attention and what content is performing the worst helps you to focus your efforts where they are needed.