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HR analytics: value, key points and features

IT.recruiting
Telling you why HR analytics is important for companies wishing to remain competitive players in the IT market today, what are the main stages of conducting such a study, as well as how the results will help solve business problems.

December will soon come to an end: companies plan their budgets for the next year, summarize the results of the current one and determine the key points on which it will be necessary to focus in 2022. Therefore, now is a great time to order IT market research. Why is this important?

Why is this important?

Salary analytics allows you to:
  • Fill the job openings quickly and effectively
    You will be able to offer candidates conditions relevant to market realities: thanks to the conducted analytics, you will have up-to-date information about salary range of IT specialists of the right profile.
  • Navigate through bonuses and options
    You can use this information today during negotiations with the candidates in order to withstand tough competition with other IT companies.
  • Index the salaries of your employees
    So that it corresponds to the market level, as well as their qualifications and skills — this will not only increase the motivation of the team, but also stop the retention of staff.

Why should you order analytics now?

Conducted HR analytics will give you the opportunity to understand what to expect in the IT market in the new year and how to optimize your recruiting processes — this is vital in the context of rapidly changing market trends and tendencies.
We plan to conduct analytics for each request individually
The clients often ask us to conduct such IT research. The results obtained during the analysis allow us to get an answer to any business question relevant to the company at a particular time: staff expansion, choosing a business direction or a country to open a new office.

How do we conduct analytics?

  • 1. We receive a request from the client and arrange a call
    On this stage it's vital to clarify all the details and make a research strategy— at this stage it is important to get as much detailed information as possible from the customer in order to competently plan further actions.
  • 2. We conduct research
    To get a reliable picture, we use different services: AmazingHiring, Podbor, GitHub, and LinkedIn, as well as chats and specialized channels in Telegram. Moreover, Lucky Hunter recruiters know the nuances of the Russian and foreign IT markets, have up-to-date information on salary range of candidates of different profiles, key market trends and tendencies.
High expertise helps us to competently research any issues related to the IT sphere — we will help solve both HR and non-HR tasks.
  • 3. We analyze the results
    It is important not only to analyze the results of the study, but also to present them to the client as clearly and conveniently as possible. Working on the visualization of information, we use the Rstudio development environment, in which we build boxplots and linear regressions. Also, if necessary, we create Wordcloud and compile Pie charts.

What is the average cost of HR analytics?

There is no single price, because the cost of this service is influenced by several factors, including:
  • Scope and type of research
    Whether it is necessary to collect information only from candidates or also from IT companies.
  • Deadlines
    On average, conducting research and processing the results takes about 3 weeks, but sometimes we receive more urgent requests.
For example, in our practice there was a case of HR analytics for an IT company in three days. The customer contacted us in December 2020 — he needed to understand the salary range of such IT specialists as Java Developer (Senior/ Regular), DevOps (Senior), QA (Senior/ Regular), Project Manager (Senior) and Web Developer (Senior/ Regular). Another condition was the inclusion in the sample of only those specialists whose level of proficiency in English was not lower than B1.
IT market research is an important factor of successful hiring
The research was completed on time: the customer determined the correct salary level of future employees and successfully hired new specialists to the team, as well as indexed the salary of current employees in accordance with market realities.

Order HR analytics if you want to remain competitive in the conditions of today's market "hunger games": you will study the current trends of the IT market, decide on salary ranges and relevant conditions, which, in turn, will help to quickly and efficiently fill vacancies, forming winning offers for candidates.

Polina Barabanova
Content Manager at Lucky Hunter
Specializes in tech staff recruitment, startups, tech research, career, HR, and news topics. With her expertise, she provides valuable insights and practical advice to navigate the ever-evolving tech industry.
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Lucky Hunter will help you conduct research on any issue from the IT field that is relevant for your business, including urgent requests. You will get the results with high-quality visual design.

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