In a world driven by data, recruitment is starting to change. Data analytics and big data are beginning to make recruitment more of a scientific process. Organizations are using data to inform them of hiring processes, candidate behaviors and workforce trends, and they are using this to ensure positive, efficient and fair outcomes. In this article, you will learn more about the power of data analytics in recruitment.
The term data analytics in recruitment refers to the way organizations collect, process and analyze sophisticated, large and complex datasets from systems like applicant tracking systems (ATS), human resources information systems (HRIS), social media, and more in order to identify, trends, structures and patterns to support decision-making and optimize strategies.
Here are few key applications of data analytics in recruitment:
- Sourcing Optimization: Understanding the optimal channels for sourcing the best candidates.
- Candidate Experience: Tracking candidate drop-off points and feedback to improve overall experiences and the application process.
- Predictive Hiring: The ability to understand and predict future talent needs, skill and accountability gaps, etc.
- Diversity & Inclusion: The ability to track and improve DEI metrics.
- Retention Analysis: Understanding the reasons behind high turnover rates.
Advantages of Data-Driven Recruitment
- Better Quality of Hire: Data enables employers to find more suitable candidates.
- Shorter Time to Hire: It helps eliminate delay standards to design more efficient processes.
- Cost Savings: It helps ensure there is efficiency in sourcing and eliminates cost inefficiency.
- Better Candidate Experience: Data to inform candidate interactions and to identify pain points.
- Strategic Decision Making: Allows the organization to identify insights that could lead to improvements in the long-term talent planning process.
Challenges and How to Implement
Data analytics has different associated challenges including collection, quality of data, privacy, and talent development. It will be important to address the resistance to change to a data-driven recruitment function and the overall culture.
Practical Steps!
- Clarify Objective: What recruitment problem do you need to solve with data?
- Identify Important Metrics: What are your target KPIs for example time-to-fill, cost-per-hire, source-of-hire?
- Technology Selection: What analytics platforms are available for your recruitment objectives?
- Data Governance: What is your data governance policy in terms of what records you will collect and how you will use or share your data?
- Start Small: decide on a pilot project that you can manage before expanding further and at your own pace.
- Develop Your Team: Train recruiters how to interpret and use data.
Revolutionize Your Talent Strategy
A data-driven approach to talent acquisition is a necessity in today’s world. By using data organizations can change their recruiting and sourcing processes from reactive to proactive. By using data we can make thoughtful decisions in regard to who we hire and what the results of our hiring decisions are.
To maximize the potential of your talent data and build a workforce that is ready for the future, contact us today and check out our service category for analytics solutions or visit the product detail page to book an online consultation to learn how we can support your talent acquisition strategy.
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Email : info@skilligent.in
