The inability to find and attract top talents is a common problem many businesses face when hiring. For a company to be successful, it needs the best personnel in every position, thus making the recruitment of top talents a priority of the company. Nowadays, it is possible to track and measure the recruitment processes using data. Many companies are now using HR analytics and data-driven recruitment in hiring.
HR Analytics and Data-Driven Recruiting meaning and definition
Traditionally, feelings and instincts are used in recruiting candidates. Organizations used to gain insights about the candidate by conducting interviews and going through her resumes in hiring candidates. Nowadays, many recruiting managers use alternative approaches knowns as HR Analytics and Data-driven Recruiting.
When you plan and make decisions using data obtained through HR technology like Background Screening Technology and Applicant Tracking System (ATS), it is referred to as HR analytics and Data-driven recruiting. It involves formulating an improved working method from facts and data obtained during the previous and current recruiting processes. It involves using data to understand how the recruiting process works and identifying the areas that need improving.
There are some factors to consider when obtaining data, such as:
Average recruiting time
The resources the most suitable candidate offers
Conversion rates
The current rental price, or the fair market value of the rented real estate at the time of lease signing
HR analytics and Data-driven recruiting are what major companies and organizations such as Facebook, Robinhood, and Uber use in screening resumes and identifying the most suitable candidates not based on academic background but on skills.
Benefits of HR Analytics and A Data-Driven Approach to Recruiting
When an organization is hiring, most times, many people apply for the position, but the organization only needs the top talents with skills, experience, and ideas that will aid the organization's growth. Organizations select the best talent through HR analytics and Data-driven recruiting, which analyses and identify the suitable candidates using technologies, techniques, and data. Below are the benefits of using HR analytics and Data-driven recruiting:
It aids the proper budget allocation by determining the recruitment channels attracting the most qualified candidates.
It helps analyze the application form conversion rates to identify what needs adjusting, either the questions or the design of the career page.
It aids a better understanding of the recruitment market and hiring process.
It provide better-recruiting metrics and technologies to improve productivity and efficiency
It aids in making recruiting decisions that are objectives and legally sound using the results obtained from the interview.
It improves a company's hiring process and provides a basis for improving the recruiting process.
Types of HR Recruitment Analytics Tools
Many tools track metrics and analyze recruiting data that businesses can use to recruit the best talents. Identifying historical trends and areas that need improvement is easy by using Data-driven and HR Analytics tools that store and organize data. Below are some tools for recruitment and HR Analytics:
Applicant Tracking System (ATS)Basically, the Applicant Tracking System (ATS) helps store candidates' data and keep track of the applicant pool for an individual post. ATS can do a lot more apart from storing data when fully utilized. With ATS, screening and sorting of the candidate are possible through configuration with the keywords and the parameters you are looking for in the candidate. Based on research, Applicant Tracking System provides the possibility of streamlining the hiring process. There is also an integration of the most comprehensive Applicant Tracking System platforms with other systems like onboarding and background screening platforms.
Background Screening TechnologyEngaging the candidates throughout the recruiting process is essential, same as during the critical pre-hire stage. Requesting background checks, obtaining status updates, and keeping track of candidate background check results are done easily with the use of Background screening technology. It also helps streamline recruiting by integrating with Applicant Tracking System (ATS) platforms and eliminating cumbersome communication.
Google AnalyticsIdentifying the organization's career sites that engage the most candidates is possible with the aid of Google analytics. Some parts of the sites need updating or reworking to entice applicants and increase the number of viewers; Google analytics can help identify such parts.
Survey ToolsUnderstanding the candidate's experience is important for a business to modify its hiring processes based on the feedback of the candidates. Survey tools help with HR collection of this feedback and help understand what the recruiting manager needs. Also, it helps in improving the partnership with the hiring manager and knowing their expectations. The impact of the improvements in the hiring process on candidates and other stakeholders will be visible to the HR teams through the survey conducted over time.
