Like every other industry in the world, the recruitment business has also been struck by disruptive technologies. Ranging from automated job boards to Artificial Intelligence softwares for job matching and hiring, the recruitment industry is seeing rapid growth in data-driven HR technologies. Data and analytics are the need for success in the recruitment world.
What is data-driven recruitment?
When the hiring process wields the power of data and analytics to make informed hiring decisions backed by strong facts and stats, it is known as data-driven recruitment. With the rise in tremendous career options, cross-functional business approaches, and multi-faceted skilled candidates, it has become evident that data is the key to effective hiring success.
JobsPikr instantly provides you fresh job data based on job title, location, niche, job type, keywords and more. The job data is provided in a plug-and-play format that can be easily integrated with your existing systems.
Ways to implement data-driven strategies in recruitment business
1. Lead Generation
Recruitment agencies strive to connect employers with the most relevant candidates. It is always a challenge to have a continuous flow of relevant leads (employers as well as job seekers) to meet the demands of the industry. This is exactly where data-driven services and job discovery tools can be used to get custom job data feeds tailored to specific requirements recruitment agencies.
The notably higher volume and variety of job listings from these tools can result in increased efficiency in lead generation, thus helping you identify and pitch to the right companies with relevant hiring needs.
2. AI-based Job Software
While nothing can replace the authenticity of human sentiments in the HR world, there is still a good scope of using Artificial Intelligence to do a level of screening that can greatly reduce your time and resources as a head recruiter. Instead, fewer good recruiters could use their core skills to review the initial screening and matching done by AI-based software. This is the major reason why AI-based Job Software products are hitting major success in the current job market.
Data extraction tool and services can supply job-listing data which can be used to fuel the job matching software to filter through the job listings, or sort the job listings in clusters and match them with potential candidates. This will help your business take advantage of the job matching technology without the hassles associated with aggregating job data.
3. Job Boards:
You can even build your own successful job board website which helps recruiters and employers to advertise their job requirements to potential job seekers or headhunters. For this, the job board must have a steady and seamless inflow of fresh and structured job data to cater to the demands of the job board users.
To populate your job board, you can either use custom web scraping services that can provide recurring fresh job data crawled from popular websites and job boards across the world, or you can use verticle specific job data extraction tools to power your job board.
4. Job Market Research:
Job data is a good market research tool to get insights on crucial trends that your target market is going through at any given point in time. You can even take up job market research to do competitor analysis for your clients, wherein you can study the hiring trends of their competitor companies and provide insights on improving their own hiring activities. Data keeps you up to date with your competition in today’s fast-paced business world. Use it to analyze real-time job trends, identify competitor activities, create reports as well as enrich your internal data warehouse.
Once the recruitment industries succeed in choosing the right data source and managing data efficiently, they can integrate innovative data-driven technologies to achieve a better hiring process, great recruitment decisions backed by data, lower the attrition rate, better utilization of their resources and thus take actionable steps towards gaining an exceptional edge in client satisfaction.
Can you think of more ways to implement data-driven innovations in the recruitment industry? Feel free to comment below.