Hiring is an extensive procedure comprising of days of efforts where you can’t afford to make errors. Making recruiting mistakes would adversely affect the organizational goals. A good hiring decision-making isn’t based on the perceptions; it relies on the available data and analytics. Moreover, a good hiring team isn’t the only factor for quality hires. To save us from the recruitment blunders, ‘Recruitment Analytics’ is here to keep it sorted.
Recruitment Analytics is tracking, evaluating, gathering and analyzing employee and candidate statistics which help in making better hiring decisions. Besides giving you a better hiring picture, it provides unique opportunities to reframe the retention methods and control attrition rate.
Following are some of the benefits a recruitment analytics system can offer and help you move forward as an employer and recruiter:
Locating Required Candidates
Businesses can quickly find the culture-fit candidates by measuring soft skills through recruitment data and analytics. It helps to find the potential candidates right from the initial stage of recruiting. You can use the data to calculate the candidates’ potential to grow and excel within the organization. It also helps to assess candidates’ attrition risk. Once shortlisted through the intelligent recruitment analytics system, the HR department can efficiently move further in the hiring process.
Filtering Sourcing Process
Those who are already associated with recruitment industry understand what’s the best ways to source ideal candidates. Predictive analytics makes it even more interesting and smoother for professionals through closer insights by resources used for locating candidates. You can easily extract data from popular job aggregators and social media platforms to learn crucial things which your company should emphasize on. It would give you better understandings about different preferences of candidates such as location choices etc. The time which could have been wasted on wrong hires; you can save it and invest it on quality hiring which would also help in achieving organizational goals.
Collecting Performance Statistics
Data mining technology helps you evaluate the satisfaction level of new hires even from the initial hours. It helps you know whether newly hired talent is meeting the expected standards in their respective job roles. You cannot only easily measure the overall employee engagement; also identify the risk of turnover. Moreover, you can predict whether any of the employees might quit. You can avoid it by taking necessary actions once you know it through available facts.
Evaluating Hiring Experience
The available data can provide you information about how the new employees would rate the provided orientation and training from you. Recruitment analytics lets you understand the errors during the hiring process and helps you communicate it to the HR department so they can resolve the issues and flaws at the earliest. When you can address the issues at the beginning, you can avoid future instances of failures in a better way.
Data gives a vision about the required candidates and their skills your company is looking for. It helps the hiring team streamlining the recruitment process which increases the possibilities of quality shortlisting in a limited time-frame. When the profile-tuning is perfect, the recruiting becomes less complicated and offers maximum success rate.
Recognizing Best Platforms
Identifying the type of candidates your company requires is half of the tasks completed. The other half will be considered completed when you know the sources of the candidates where they come from. The data would guide you to identify the sources where the company’s best performers come from and focus more on those sources. Data gives you insights about which platforms have the highest turnover percentage and other relevant information on recruiting.
While hiring talent, you must know the market trend. When you know the current demand in the market for a particular skill set which your company is also looking for, you can customize your recruiting process or make it more efficient. For a staffing agency, such data is quite useful to find potential candidates.
The overall effectiveness of recruitment process amplifies when your organization implements data and predictive analytics. This is not the limit; it helps you find the most suitable candidate for the right available position who would stay for a longer period in your organization. Recruitment analytics would improve the overall recruitment quality and ultimately take your team towards achieving the decided business goals.