Unlocking Future Opportunities: Data Analytics for Law Firms in the IT Hiring Landscape

Data analytics has become one of the most widely discussed topics across all industries over the past few years. It has mostly been the large tech firms who have the expert resources and financial backing to analyse huge amounts of information across multiple platforms, allowing them to make decisions based on the most accurate and relevant data available. But there are several ways in which analytics can be used in every sector. So how can law firms use analytics to improve their processes and decision making?

Analytics in LAW FIRMS

Data analytics is primarily used for one of two purposes in law firms. Firstly, to improve transparency and efficiency within processes. Technology can be used to gather all relevant information, where it can be categorised and assessed to determine the next steps in a process. This has been most beneficial in streamlining hiring and staffing. Technology allows law firms to gather all available data on candidates, match them against their requirements and make decisions based on what they learn. This is best illustrated in IT contractor hiring – where the efficiencies of hiring independent contractors can be seen on Bench Direct. Secondly, data analytics can be used to assess past decisions, allowing law firms to make predictions about IT contractors and their likelihood of success based on the historical data available. When they have this data, law firms can make more strategic decisions that improve their rates of success. This means they are making more informed decisions, rather than relying on their emotions or recommendations from biased sources.

Three steps to a straightforward hiring strategy

Data analytics is straight forward – although implementing this strategy can be a different story. How do you make sure you have the right people in the right roles and are choosing the most effective contractors? There are four main things to consider ensuring your data analytics in law firms strategy is straightforward and improves your hiring process for IT contractors.

1. Define your objectives – Agree on what you want to achieve, then set those KPIs. Do you want to cut costs or reduce hiring time? Perhaps you want to find the contractors who are most likely to stay on site for 12 months or more. Once you build your goals, you can build your strategy.
2. Use the right tools for your clients – There are plenty of data analytics tools available online, and lots of organisations that are doing fine without data analytics. That’s because the tools available are IT contractor hire specific. They usually focus on IT contractors, process efficiency or project timelines. Sometimes, for your company and clients, you need something a little bit different. To build your data analytics for law firms strategy, you need a totally compliant, strategic and efficient way to hire contractors. You need a solution that allows you to quickly find the right talent for your project, while ensuring processes are secure and legal.
3. Integrate your systems and procedures – Only start using analytics if you have the right tools, systems and processes in place to ensure the data you collect is comprehensive, accurate and reliable. There are several different types of data analytics tools, but not every tool is suitable for every business. If you have another tool already in place, it needs to be able to integrate with your new system. This includes integrating with your legal procedures, HR or finance departments and your current contractors and clients. This is where Bench Direct is different – we’ve already built these integrations, so when you build your new processes, you won’t need to worry about whether it will fit with Bench Direct.

Building a successful data analytics strategy: 4 tips

Here are four things to think about to ensure your new data analytics strategy is successful. Nobody can build a successful data analytics strategy without a short-cut, so here are some quick wins to get you started on building a successful data analytics strategy:

1. Look at the data you already have – You already have a whole lot of data that can be put to good use, you just need to learn how to use it. How does this data align with your goals?
2. Work backwards – Start with your goals and KPIs for your projects, outline the process for achieving them then create a flowchart for reviewing your processes.
3. Streamline your data for analysis – Establish a clear way to collect data to ensure accuracy. The best way to streamline your data for analysis is to follow a clear set of instructions, use consistent terminology and collect the same data at the start and finish of the process.
4. Find ways to measure results easily – Data analytics tools can help you to measure your success. These tools will analyse your data and show you how much impact you have made. Will your company’s revenue increase as a result of using data? Those using data analytics to headhunt contractors for businesses are seeing the benefits of this strategic approach. More and more companies are using IT contractor professionals, and with a tool like Bench Direct, the process is far more efficient and easier. Just like your IT contractor projects, using analytics can help you enter a project with a clear strategy and a mindset designed for success. You’ll have all the information you need to make an informed decision about your new clients and projects.