5 Ways to Leverage Data to Make Better Recruiting and Hiring Decisions
Technology makes it simpler for us to assemble data on not only potential candidates but also the overall recruiting system. Picking the correct information, metrics and suitably following up on this Data can change and augment your employing cycle. You can harbor the power of data to fill positions in your company with the ideal individuals in a budget-friendly manner. As per Harvard Business Review, top-performing firms are five times most likely to utilize data to make a decision. It is a monumental positive development in how we generally assemble and use Data. Data is usually utilized as an enhancement for decisions, but it enables us to make these choices or decisions. Importance of Recruitment Data There is a directly proportional relationship between data and your company’s hiring process. It means that the more data you gather, the more the hiring process improves. It becomes significantly easier to attract appropriate candidates for the position and cuts down the costs of this process. Below are five ways to leverage data to make better recruitment and hiring decisions. 1. Speeding up the process Time is money, and some hiring leaders fail to recognize that. Some organizations have a detailed, stretched-out hiring process, which increases spending and time to fill that position. No job position should be open for a longer duration. A typical recruitment process looks like this-
- Application submission
- Initial screening
- Phone interview
- Onsite interview
- External costs include marketing and advertising of open job positions, job fairs/event fees, travel expenditure, background checks, and interviews.
- Internal costs include recruiting staff (salary), recruitment professional development, and recruitment-related office expenses.
- Why are candidates dropping out at the beginning of the process?
- Why is the applicant pool limited?
- After looking at the job description, how many candidates don’t apply? etc.