Data driven recruiting is using quantitative measures to dictate your hiring decisions. The data driven approach should be used through your entire recruiting journey. Therefore, from listing the job, selecting candidates to making decisions should all be adopting this strategy.
How to use data during recruiting
Use set metrics
Firstly, use set metrics to help you measure certain goals. Popular metrics will measure time, cost and quality. Examples of these are the time to hire, time before they start and time taken at each stage. These metrics must align with your goals. Are you looking to reduce costs or improve time? Setting these goals ahead will help you determine what metrics you should track.
Examples of some common metrics:
- Cost per hire
- Time per hire
- Job acceptance rates
Be smarter in the way you collect data
Secondly, data can be collected seamlessly throughout the recruiting process. Tools such as Smartrecruiters and JobAdder can be used to facilitate the process. Create more touch points by sending additional surveys.
Let data inform your strategy
If you are taking a long time to hire candidates, you should look to identify issues within your process. You could be taking a long time to source or filter candidates and should look for tools or ways to improve upon this. If you are getting low job acceptance rates, you should look to improve internal employee experience or get candidate interest early on.
It is important to analyse your data, as it can not explain the why, but rather the what.
Benefits of data
1. Allows you to have more efficient and effective recruiting
Recruiting will be more efficient because you will be able to use the data to improve your cost and time taken. Further, you will be able to note where your process has had issues in the past. It is possible that many strategies you previously used such as manually filtering CV’s may have inhibited strong recruitment. All these improvements made after data will drive to strengthen your process.
2. Better forecast capability
You will better be able to know how many applicants you need on average to convert into an offer. This can help you adjust your recruiting strategy on different platforms. Thus, you can see where to allocate your budget.
3. Be more objective in hiring
Finally, data will help remove a lot of natural bias in the selection process. Many companies grapple with this concern which can be easily avoided.
Where to start
Thus, you should start by integrating data in your strategy. Use platforms like Triggr to help you uncover the best talent.