Despite 91 per cent of agencies using data in some shape or form to influence their decisions, almost half question its accuracy or accessibility. This is one finding from the first Staffing Business Intelligence Report published by cube19. The new report reveals the changing role of data within a modern recruitment business. Based on a survey of 135 staffing businesses, the report investigates the current use of data in the recruitment industry and how that will all change in 2018. The report is co-authored with CloudCall, in collaboration with Bullhorn.
The report also suggests that almost a third of agencies lose time each week to reporting, with an additional third believing that poor processes restrict their growth. The report continues to state that 38% of agencies would like to do far more with their data. In 2018, this will involve looking past the headline figures to understand the mechanics of how their company operates.
Dan McGuire, cube19 founder & CEO, comments: “We’re moving into a data intelligent age where recruitment agencies are listening to their data to drive revenue and growth.
“To make the right decisions at the right time businesses need on-demand access to accurate data. This means completely overhauling the current approach to data analytics in the recruitment industry."
The report confirms that agencies want to turn their data into actionable intelligence, but many are unsure how. To identify the metrics and behaviours that are responsible for driving improved performance, recruiters are increasingly partnering with established technology providers to unlock the insights they need.
Peter Linas, managing director Bullhorn, says: “The report shows that attitudes are changing in the industry. Decision makers are now far more open to partnering with technology providers to improve their service. Afterall technology is there to enable agencies to work smarter, not to remove them from the picture.
“I believe recruitment businesses will look introspectively to see how improving their processes will drive revenue and growth,” adds Linas. “At the heart of that sits data. 2018 is the year where recruiters will push harder to work smarter.”
The full report is available here.