Before starting any new recruitment process, understanding the market and the possible candidate’s mindset is a must. Having an organized data-driven recruiting system provides many benefits.
Collecting and analyzing data for every candidate can actually make a difference in your current recruitment process. It not only helps HR recruiters avoid a large chunk of substandard candidates but also efficiently manages the organization’s requirements by fulfilling the vacancy with the right talent pool.
What is a Data-driven Recruiting Process?
A recruiting team is efficient when they have some flawless ways of gathering candidate data, have sleek recruitment processes, and give out the best experience to the applicants.
Data-driven recruiting is a method that helps recruiters achieve these goals. It is a way of collecting data using the latest technologies to make a better approach to the hiring process.
Applicant tracking system (ATS) is getting much popularity lately because it has a lot of functions that help you successfully execute data-driven hiring. It gathers and stores candidate resumes in a data set for the experts. Resumes may be stored in your existing system to access later even if the vacancy is already filled.
With a data-driven recruitment approach, you can make the whole hiring process much easier, more productive, and practical. It is essential to make calculated decisions during the hiring process to get the best and most profitable outcomes.
Benefits of Data-driven Hiring
1. Enhancing candidate experience
Many companies fail to understand the importance of candidate experience during the recruitment process. Data-driven hiring process can help you understand the issues candidates face during recruitment and how this can affect the brand image of the organization in candidates’ minds.
This lets you focus on the problems at hand and improve the overall aspects of the hiring process. It has also proven to be helpful in filtering candidates, so you don’t rely on your gut, ultimately leading to unbiased outcomes.
Data-driven recruitment also increases the odds of strong candidates preferring your company when compared to others. Solid candidates can help you further attract more quality candidates, which can highly benefit your company in the long run. You can always improve your recruitment process to give the best hiring experience to the candidate. This ‘domino effect’ has a lot of snowballing potential. It definitely carries the chances of taking your company from a mediocre one to an extremely successful one.
2. Speeds up the hiring process
Nobody likes a long process, of any kind – especially when they are looking for a job. A lengthy hiring process can cost you impressive candidates, since they have multiple offers lined up for them. Such prospects might even lose interest in your organization if you choose not to tread carefully and intelligently.
Keeping quality candidates informed is important, as they can prove to be major assets to your company. The key to doing that is keeping your hiring process quick and simple but not negligent. The data-driven recruiting method can also help you understand the issues with your current hiring process and find the best possible way to fix them.
You might find that taking a different approach to a certain step or, in some cases, entirely skipping certain steps can make a huge difference. Thus, recruitment analytics gives you a new point of view to improve the existing process.
3. Better profile understanding
It is important to understand what you exactly expect from a candidate when you hire them. It is equally important to communicate this with the candidate so you are transparent about your terms. Also, ensure whether the candidate is able to actually fit into the role you are going to assign them. Everyone is able to make promises about fulfilling the role but one needs to be keen enough to differentiate between a genuine candidate and a not much capable one.
Data-driven recruitment can assist you in these situations. It helps you keep records of the minimum salary a candidate was previously hired for at the last workplace, the time they were hired after they applied for the job, and in addition if they are actually qualified enough for the job post your offer.
A candidate who is hired after a well-given thought can be a major asset. Their first priority and focus are on the job. You can expect them to put their full potential during their working hours. You might not even have to check or worry about the work they are assigned. This is because they are outstanding in their work (which is why they are hired) and shift your own focus towards enhancing your current business.
Leverage Data-Driven Recruiting using JobsPikr
If you are using a standard recruitment approach solely based on guessing, it may be a hit or a miss. There is a high chance that a candidate can turn out to be a bad hire and the damage they may cause can sometimes be irreversible. Therefore, using data-driven hiring methods can really give a huge advantage in your recruitment process. Being able to pinpoint a certain candidate’s capabilities and making a decision based on that can certainly prove profitable for your company.
Data-driven recruitment has become extremely popular as technology has made it hassle-free to collect and analyze data. With most companies now opting for data-driven hiring, it is key to match their pace and it is always great to use techniques that will profit your company.
But how do you implement data-driven recruiting in your current hiring process? JobsPikr provides real-time insights to improve your labor market research and leverage the economic data in the hiring process to have a calculated and technical approach. JobsPikr is the number one job market insights tool that provides a 360º view of the labor market for the recruitment industry.
Want to learn more about how JobsPikr can help you transform your recruitment processes to be more data-driven? Get in touch with one of our experts.