Using data driven recruitment makes you 2X as likely to improve recruiting. And 3X more likely to lower cost (and gain efficiency).
Data driven recruiting tools allow you to rely on concrete numbers to shape your hiring decisions.
How does data driven recruitment work?
In recruiting, “data driven recruitment” means gathering and measuring prospect data to create better hiring decisions.
There’s a vast amount of data on the internet from various sources…and collating it all might be tricky. The goal of any successful data driven recruitment program is to react fast when new information emerges.
There are recruitment tools and technologies to help you pull this information together. And some notify you when your specified criteria are satisfied. This allows you to act fast and contact qualified candidates first.
Data driven recruitment tools:
- Increase the quality of candidates — data is gathered by surveys, applicant tracking systems and Google Analytics. Using this info might expand your sourcing approaches or enhance screening questions.
- Make future forecasts — get a better understanding of the future talent pipeline, allowing you to prepare budgets, reources, and allocate time.
- Help you make more informed decisions — eliminate bias when choosing candidates. Data can help you make unbiased judgments by assessing your prospects holistically.
- Create a better hiring process for recruiters and candidates — a good candidate experience is crucial. Crafting inclusive job ads, simplifying the application process, offering good interviews, and providing useful feedback are all steps toward enhancing the applicant experience. There’s also hiring assessment software, like Canditech that records responses from candidates. You can use these tools to collect data to evaluate timelines or bias in the recruitment process.
Many data driven recruitment tools help you target qualified candidates, so you can make placements first.
Here’s a list of ideal candidate qualities you might look for:
- Location – Location is important in determining the probability of the candidate accepting your job. Location is sometimes reflective of a specific set of knowledge. For example, if you were seeking lawyers who are well versed in US laws.
- Skillset – Skillset shows how well someone performs in a role. For example, the skills required for technical roles (e.g., developers). Developers often are required to know several programming languages and how to work with databases. Someone with this skillset might adapt and succeed in a role more quickly.
- Time in role – Knowing the time a candidate has been in a position is a great indication of how likely they are to accept a new position. Holding a position for longer (12+ months) greatly increases the likelihood that a candidate is looking to switch. The Bureau of Labor Statistics has found the average tenure to be around 4 years. This means that potential candidates at the 4 year timeline in their role may be more likely to seek new positions.
- Job titles – Titles are reflective of the experience a person has. A candidate with a title in management consulting might help you qualify them quickly for strategy work.
- Previous work experience – Previous work experience validates their ability to do transferable tasks and have a basic understanding of the work environment. Looking at your existing employees and their previous work experience can also help determine which organizations you might have better success sourcing from.
- Technology use – Knowing a candidates technology experience shows the type of skills they have. For example, a candidate who’s well-versed in CRM softwares like Salesforce reduces their onboarding time and shows their previous experience.
Why I Wrote This?
Unlocking the data’s potential for recruitment has a cascading domino effect on future success. Data helps companies hire better quality people, save money on recruiting costs, and reduce hiring time. Data is even used in software for creating effective and inclusive job descriptions. Visit Ongig to learn more.
This is a guest post from the founder of sales intelligence SaaS tool Triggr, Thomas Rielly.
We’re sharing because you, the reader, might find some valuable nuggets to improve your recruitment process. Triggr helps to empower your sales reps with sales intelligence data and real-time alerts of web-based events that turn prospects into highly motivated buyers. Create precise prospecting lists, find lookalike customers and get real-time notifications to sell first.