Recruiting is a complicated task that requires a lot of human insight and effort. Organizations are challenged to find the right people who fit their culture and align with the company's mission, values, and strategies. Finding qualified talent at all levels, from high school students through mid-career professionals, is becoming increasingly difficult. Recruiters spend hours combing through resumes, applications, and social media in an attempt to find the best candidates.
In today's world, information is power. Recruiting managers have more data than ever but don't have time to analyze it all. That's where data-driven recruiting comes in. Data analytics can help recruiters see patterns and make better decisions about the people they bring on board. Recruiters use data analytics to uncover hidden patterns in applicant profiles and target hiring managers who will most likely respond to job ads and applications. This blog post takes you through how a recruiter uses data analytics to improve their hiring process.
What is a Data-driven Recruiting Strategy?
In data-driven recruitment, actual statistics and data are used to direct the hiring process from applicant selection through strategy development. Teams that utilize data to inform their decisions are more likely to increase productivity, control expenses, and attract top talent. Data-driven recruiting extends beyond the traditional hiring steps, such as resume screening, interviews, and offers, by taking into account a wide range of quantitative and qualitative metrics. Teams that are data-focused in their hiring approach utilize various recruiting indicators to measure the performance of the process, and use the findings to improve efficiency.
How to Use Data Analytics in Recruiting
Selecting suitable measurements and establishing reliable data sources is crucial. If you don't want to spend too much time sorting through irrelevant information, figure out which metrics will assist you in boosting your recruiting efforts. Consider your company's long-term objectives and use that information to inform the KPIs you choose. Similarly, investing in a recruitment dashboard is a huge plus because it enables you to identify trends in the data and fix any problems. It visualizes insights about hiring new staff members, marketing strategies, and financial resources.
Surveys and Candidate LinkedIn Profiles
Using analytics, recruiters can find the right applicants for open positions. Big data analytics has enabled companies to gain a deeper understanding of their potential candidates. By analyzing survey data, companies can get value from all the information they gather. On the other hand, 2022 is a big year for LinkedIn, as they will release the beta version of Talent Insights. With the help of this big data analytics application, staffing agencies will have easier access to in-depth recruiting and workforce data in this way. For instance, LinkedIn's Talent Insights will provide real-time data and insights about talent pools and enterprises if a company is looking to hire a data analyst.
The Accuracy of Data Analytics in Making Predictions
The resume is just one piece of the puzzle. However, information gathered throughout the hiring process may be used to make accurate predictions about a candidate's likelihood of success on the job and fit with the company's culture. Using data analytics, you no longer rely on your gut feelings but a rigorous scientific method.
Analysis of Data Promotes Employee Retention
Talent analytics not only aid in the selection of qualified applicants but also provide a method for evaluating and monitoring the effectiveness of existing staff. Employers can better accommodate their staff's needs when they accurately identify their skills, areas of expertise, and preferences. Workers are more inclined to remain with their current employer when they're being stretched and encouraged to reach their full potential.
The Bottom Line
Using data analytics, recruiters may get a deeper understanding of potential applicants' qualifications and whether or not they are a suitable fit for the vacant posts at their company. As an added bonus, it may show them where to find the most qualified applicants. A savvy recruiter will use data analytics as part of their comprehensive approach to recruiting.