What if we told you that you could cut down on hiring time, interview numbers, and associated costs? Well you came to the right place! We are going to discuss strategies associated with data-driven recruiting which allow human resources (HR) departments and recruiters to use data to understand how their hiring process is operating and where they can make improvements associated with hiring time and costs.
What is data-driven recruiting?
Data-driven recruiting is using tangible facts or data analytics to plan and execute the hiring process. This includes selecting candidates and creating hiring plans. We can use this data to increase application and hiring rates for certain types of candidates. Another use is to help us formulate strategies to attract new hires.
With the rise of data-driven recruiting and technology that makes it easier to gather and analyze data throughout the recruitment process, we have the means to evaluate how effective our hiring methods are. Using applicant tracking systems (ATS) is one way that companies can customize the data that HR tracks. Extracting that data and analyzing it helps HR and recruiting professionals make informed decisions for their specific recruiting needs.
What are the benefits of using data-driven recruiting? There are many benefits to using data-driven recruiting, which include:
Increases efficiency and productivity among recruiting specialists. For example, using data from the ATS allows us to track how many emails members of your hiring team exchange with candidates. If we know it takes 12 attempts to reach a candidate, we can evaluate other options for contacting this candidate or reevaluate the messages we are sending them to speed up the rate of the next hire.
Reduces hiring cost through efficiency. You are now able to wisely spend your budget using data to track the source and determine which recruiting channels bring in the most qualified candidates.
Helps you hire higher quality candidates. Having data on which platforms attract the top talent will allow the recruiters to connect with the right candidates.
Provides objective data on how long the hiring process takes on average.
Reduces reliance on the instincts and emotions of those in charge of hiring.
How do you incorporate data into your hiring process? Here are a few tips to help you shift towards data-driven recruiting:
1. Choose the right data:
Start by selecting the things that are most important to your HR or recruitment team. Some ideas to get started would be:
Measuring the quality of hire
Source of hire
Each company will have to determine what matters most in their hiring process.
2. Collect your data
Data collection does not have to be a painful and time consuming process. Once you determine the data you want to track, you can use software to your advantage. Your ATS may already have reporting capabilities that will do your work for you! You may also want to use more creative methods of data collection such as online surveys that you create and send to candidates to get feedback on the hiring process.
3.Act on the data
Once you collect the data, you must determine what you will do with it. You may also want to coordinate with others in your HR or recruiting department to help you evaluate the most important and valuable metrics for your company. Some of the data you may want to respond to immediately, while other types of data may inspire long-term changes. Do not get discouraged as often changes take time and you may even decide to track new data as you implement adjustments. Here are some examples of common recruiting issues that data will help you to uncover:
Sourcing: From the data you may want to consider diversifying your sourcing methods or using alternative sourcing tools that can help you to reach more candidates faster.
Screening: Be sure to include qualifying questions on your job application forms and have a set of effective phone screen questions before you start the screening process.
Interviewing: Consider using software that will help you to effortlessly schedule interviews with hiring managers and candidates.
Know the limitations of data
Data can’t solve your problems. Data will uncover what your team does well but remember it may also uncover problems to solve.
Data won’t tell you why something happens. You can get in-depth insight by combining different types of data, but you still need to interpret your findings.
Data isn’t perfect. Be prepared to take some items with a grain of salt.
Ready to get started using data-driven recruiting? Have questions about using your data? Feel free to reach out and connect with one of our recruiting specialists. Contact us at firstname.lastname@example.org or 703-362-0175 to set up a time to speak with one of our experts.