Hiring the right employees can make or break a company as your employees are your most valuable asset. It can end up being a timely and costly task if you don’t have the right tools available to you. Recruiters that use data to their advantage have a greater chance of hiring talent quicker which ends up saving them time and money in the long run.
There are several different recruitment technologies that can be used to your advantage like Applicant Tracking System (ATS), Recruitment CRMs, HR Analytics, and more. In this post, we will be going over what these technologies are and how they can benefit you.
How does data-driven prospecting work in recruitment?
Data-driven prospecting means that you collect information about your potential candidates to hire the best suited to your company. This will include anything including but not limited to their previous work experience, skill set, or personality. The best place to find these characteristics is within your own company and employees. This will help to standardize your recruiting when looking for an in-house HR department.
Here are some ideal traits to look for:
· Location: If you are not hiring for a remote position then the location can be important in determining to hire someone. Additionally hiring within a certain location means you are looking to obtain skills specific to within that area; for example, hiring a lawyer well versed in US Laws.
· Skill Set: The skillset of a person can indicate how well they can perform in a role. This is needed for highly technical roles.
· Time in the role: Knowing how long a person has been in a role gives you insight into how likely a person is to switch roles.
· Job Titles: Different job titles generally represent the experience that person has in a role.
· Previous work experience: previous work experience can validate their ability to do tasks as well as the qualification for the job and understanding the work environment.
· Technology experience: Another sign of a candidate’s skill level is knowing how much technological experience they have.
Setting this list of data you want to accumulate beforehand will help to narrow down who you want to hire, and gain you a portfolio of candidates.
Data-driven recruitment benefits
In the past recruiters relied heavily on job boards, career pages, referrals, and social media which left a very large talent pool open that wasn’t targeted.
There are a lot of benefits to recruiting with data and how it can help your team:
· Make informed decisions: Using data to help recruit your employees can help to remove bias. It will be the data that places candidates ahead of each other instead of your own personal opinion which will help you holistically rank your candidates.
· Reduces bad hires: Data on previously qualified candidates can help reduce and improve the quality of your hire going forward. You can use this to improve your ROI on candidates as hiring someone who doesn’t fit the role can be a costly endeavor.
· Manage timing in the hiring process better: Using the data you collected stakeholders will have a better understanding of timelines. This is due to having access to better decision-making frameworks and forecasted workloads.
· Make future forecasts: Knowing what your candidate wants out of the role for the future will give you a smoother recruiting effort. It will help you realize budgets, allocate time and resources while also letting you know if the candidate is right for the role in a long-term capacity.
