Job interviews are just a small part of a fine recruitment process, which requires much more tools and insights that can be accessed through trustworthy data. The role of recruitment data is to simplify the hiring process. Encompassing recruitment, talent management, employee engagement and other processes will become more strategic and proactive.
What Are Predictive Analytics in Recruitment?
Predictive analytics in recruitment include using historical data archives to predict future scenarios and outcomes. During recruitment processes specialists use past employee datasets to foresee recruitment trends, possible turnover rates, the company’s needs for employees and employee engagement levels.
Studies show that around 83% of recruiters face low people-analytic capabilities. Nowadays such capabilities aren’t a necessary skill for recruiters, since they now can use data to make well-informed decisions, without having to risk their gut feeling.
For ideal predictive analytics data is modeled, turned into statistics and inputted into machinery that simulates different scenarios, this allows recruiters to produce ideal predictive results and make wise decisions.
Proactive Talent Acquisition Approach Explained
Many companies make the mistake of waiting for a vacancy to start looking for talent. This is far from an ideal approach since talent search gets rushed, leading to lower quality candidate finds and a bigger turnover percentage.
Such issues can be avoided by simply implementing a proactive talent acquisition approach. It’s an approach that encompasses the process of sourcing, engaging and interacting with job candidates, before a vacancy must be filled.
A survey has found that 73% of potential candidates are passive job seekers, who are open to opportunities but have yet to actively seek a job. With proactive talent acquisition, you can build your pool of candidates that will be accessible in case a vacancy is available.
How Can These Methods Help Recruiters?
As we have established predictive analytics and proactive talent acquisition are the ideal solutions for recruitment within organizations. With the right data at hand, you can easily plan and ensure that all your recruitment decisions won’t negatively affect your company and moreover will benefit it. So, let’s take a look at some exact advantages of these recruitment methods:
Reduce Turnover Rates
When a candidate’s position is filled wisely there is a greater chance of them succeeding in a position. Whereas when candidates are chosen out of gut feeling they might get overwhelmed with their job, won’t have enough knowledge to figure out problems or simply be uninterested in their responsibilities, leading to high turnover rates.
Save Resources and Time
Following the previous point, the fewer turnovers there are the more costs recruiters save. They will also be saving their time which in the long run also costs money, since that time can be spent on developments rather than interview time, getting to know prospects files and training new personnel.
Emphasize Company Diversity and Inclusion
Without realizing companies might face the problem of restricted and biased requirements. Data from analytics will allow you to embody a more welcoming workplace without biased hiring processes and restricted materials for employees.
Improved Brand Image
When interviews are streamlined with data insights they become more manageable and seamless. It leaves recruiters with very little room for misconceptions about job requirements, and the candidate’s goals, skills and responsibilities. Seamless interviews can assure more and better hires and even when they don’t result in a new hire they leave positive feedback on candidates.
Many organizations have become used to general recruitment websites, but nowadays these sites are far from the best, they constrict companies to a few of the same candidates. Data allows recruiters to gather candidates from millions of sources all around the globe and filter them through to highlight the best matches for their company’s morals and requirements.
Key Tips When Using Data Analytics
Over 55% of organizations reported that using HR predictive analytics allowed them to secure quality hires. However, for that to be true, companies must know all of the best practices and tips when it comes to using data analytics in recruitment.
- Define what metrics to track. As you start working with data to make data-driven recruitment decisions, you are on the right track, but for ideal data insights, you need to know what metrics to track. A company’s industry type, goals, objectives, size and opportunities affect the type of metrics you’ll need for recruitment.
- Check data for relevancy. Now that you have defined data metrics it’s important that you check its relevancy. Make sure that it benefits your insights, comes from reliable sources and has led to positive outcomes in the past.
- Visualize data. A well-known data secret is to visualize it for more effective analysis. When data is displayed in the form of a chart, graph, or other visualization it becomes much easier to read and make sense of. Even though you will still need the numbers for actionable insights in the long run, you should always start with a picture in order to notice gaps for opportunities and improvements.
- Put data in perspective. Make sure you always come back to your data and compare progress over weeks, months and years. By evaluating the progress you’ll see how it positively affects recruitment and also notice what other points you can add that you have been lacking for the ideal analysis.
- Recognize data limitations. Even though data is full of insights and different data combinations can produce new perceptions, you should always know its limitations and consider all other factors. Always consider the situation in the recruitment market, in the economy, and in factors affecting people’s personalities.
The Benefits of Proactive Talent Acquisition
Proactive talent acquisition does require some extra effort and time spent, which some companies believe they don’t have, however, when it comes to the benefits that it will bring, these companies will change their mind. So here is a look at just a few of the benefits you’ll notice as you introduce this approach:
Improve Candidate Experiences
Since proactive talent acquisition encompasses nurturing a candidate, when the time comes you have the right connections and conversation starters, to build an approach that will get them excited for an open spot.
You will be able to raise their excitement by including a custom work hour schedule, benefit packages and ethical values in a way that they believe is right.
Fill Vacancies Instantly
In a growing business every role is crucial for the clock to turn, so an open vacancy can ultimately stop the whole mechanism and lead to big losses and problems.
When an employee suddenly leaves, you’ll have a pool of candidates that can fill in instantly. Whereas without being proactive the search can take days if not weeks, and the effect of an unfilled vacancy on the company is unknown.
Find The Best Talent
When in a time crunch you simply can’t review each candidate thoroughly, which can lead to a wrong hire.
Proactive talent acquisition can be done in your free and relaxed time when you have the ability to review work histories, past experiences, expectations and skill sets. When the time comes you’ll have the right person in hand to fill the job without having to worry if they manage the tasks and if their work morale fits your company.
The integration of predictive analysis and proactive talent acquisition in recruitment is bringing it to another level of effective and optimized decisions. As recruiters optimize their data and learn to incorporate it, they will notice lower turnover rates, minimize cost and time spent, positively influence their brand and more.
Alyssa Taylor: a content writer specializing in data analytics and human resource software. Her articles simplify complex topics, making her a go-to resource for both businesses and professionals seeking clarity in these crucial areas. Explore her expertise and unlock the potential of data-driven HR solutions with Alyssa as your guide.
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