Traditional recruiting, until recently, was like looking for a needle in a haystack or a black cat in a dark room. Recruiters relied more on chance than on some more or less verified calculation. And the whole hiring process was more like fortune-telling on coffee grounds than a serious well-planned project based on competent estimation.
But in recent years, everything has changed. Thanks to a miracle, you thought? No, thanks to the data driven recruitment process, more precisely, the new data driven recruiting strategy that brought the necessary rigorous digital calculation to recruit. The recruitment process has changed itself. The quantity has finally turned into quality.
So let us figure out what data-driven recruiting is and how it can be helpful for your company.
Data-driven recruiting is using data in recruitment to optimize the hiring process. This data-driven approach means that instead of relying on luck, recruiters can now rely on verified and accurate data to do their job faster and more effectively.
Such recruiting involves using objective data to make decisions about hiring candidates. Recruiters make informed choices based on data analysis and interpretation, not assumptions, which allows them to effectively select candidates who meet their client's requirements, culture, and expectations.
Thus, with extensive data and sophisticated computing hardware, recruiters can utilize much more structured information in their work than ever before and in much more productive ways.
The benefits of applying the data-driven recruiting strategy
The benefits of data driven recruitment are visible to the naked eye:
Improving the quality of recruitment.
The use of data helps companies more effectively identify the best candidates for any vacancy and make the right decision within the shortest possible time.
Effective tracking of the recruiters’ work results.
Due to automated control and data monitoring, recruiters can optimize the hiring process and determine and correct shortcomings in their work.
Reducing the time and cost of the hiring process.
Finding and hiring the right candidate can often take time and money. And due to the data analysis, they can be reduced. Moreover, data analysis will help the company track the most efficient channels for attracting leads and see what process stages the recruiters must pay more attention to.
Identification of trends and future needs.
Data-driven recruitment makes it possible to predict future business needs by sorting and analyzing information on such items as:
time of hiring;
average hiring speed;
staff movement between departments;
hiring budget estimate.
Improving the candidate experience.
Data-driven approaches to the recruitment process make it easier and faster for the company and applicants. A complicated and time-consuming application process can turn off many potentially good employees. Conversely, a simple process will attract more candidates and expand the pool of highly-qualified candidates.
Ensuring a reproducible, well-functioning recruitment model.
A robust, stable, and well-performing data-driven hiring model informs the process. Such a strategy allows the company to identify better and evaluate the candidates’ skills, experience, and compliance with the company culture.
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How to use data effectively in the recruitment process?
A data-driven approach will allow your company to use a wide variety of data to accelerate and optimize hiring. For the best possible result, I would recommend you adhere to a particular scheme for sorting and applying data:
This method will help you structure and build your hiring model more efficiently.
Find the best way for your company to store and monitor data.
This step will allow you to productively store and utilize candidate data, such as candidates’ resumes, information about the candidates’ assessment, or the record of the stage of hiring the candidate is currently in.
Collect and store data rationally.
When accumulating data, clearly understand what it will be used for. If your data is collected and processed rationally, you will be able to identify and improve the weaknesses of your hiring process. In particular, such a strategy will allow you to do the following:
create stronger job postings and job offers;
assess candidate interest at the early stage of selection;
evaluate the candidate’s level of awareness of future responsibilities and scope of work;
Set up the preliminary selection of candidates through resumes.
This approach will let you reduce your recruitment time.
Use the latest assessment tools.
This automated way of processing data will also allow you to shorten your recruitment time and streamline the candidate selection process.
Therefore, I can make an unambiguous conclusion that the critical goal of data-based recruitment is to optimize the recruitment process. With it, recruiters will get the opportunity to use not only resumes and cover letters of candidates and personal impressions but also a large amount of other, more objective data, which will allow making the most informed hiring decision.
In addition, this data-driven approach will significantly help your recruiters select the best candidates. You will improve the hiring process this way and identify and eliminate problems that may slow down the hiring process and make it less efficient.