How Data Driven approach can improve the way you hire
Back in the old days, the conventional method for entry level jobs used to work majorly on luck and coincidences more than Real-time Reporting and accurate data. This used to result in a lot of confusion and disorganization while hiring candidates. The hiring managers had no option but to believe that their hiring tactics were effective.
But now, with online assessment software, hiring has become easier than ever, and with the data-driven approach, recruiters can recruit the most suitable candidates for their Company.
When you employ reliable facts and statistics to become aware of your hiring decisions, from sourcing candidates to sending test invitations to candidates, Companies that hire students have seen more efficiency in their hiring process and were able to reduce their hiring costs - thus taking their hiring process to the next level.
The use of data in the recruitment process reduces Time-to-hire. It also helps you in:
· Increased Productivity: Data-Driven hiring helps you to track the number of emails your Company exchanges and work on the betterment of "open-rate" of emails, thus speeding up your time-to-hire.
· Full Customization: Variety in data lets you create questions that are in line with the hiring needs of the Company. This can help your company to hire specific candidates that are best suited for the job profile.
· Better Administration: Data-Driven hiring helps you to better organize the hiring process, thus simplifying it.
How to embed data
into your hiring process?
Here's what you can do to make your hiring process Data Driven:
Choose the right data and metrics: There are a few important hiring metrics that you'd want to track. Some common metrics include:
· Cost-per-hire: The total cost a company has to incur to hire a suitable candidate. Should be as low as possible.
· Auto-concurrency level: How many candidates are taking the assessment from which location?
· Time-to-hire: How much time it took to hire the candidate. The lesser the better.
· Quality of hire: Whether the hired candidate best matches the job profile or not
· Real-time Reports: A data that tracks your progress. It can be in various forms like HTML files/PDF/Excel sheets etc.
Work with the data
Did you know that data can help you get over a number of recruiting issues? The most common ones are listed below:
· Sourcing: With Questions focused on specific skills, you can source a candidate according to your hiring needs.
· Reporting: With data, you can know where to improve and you can work on the same.
· Scheduling: Data lets you schedule the assessments so that more candidates can appear for it, at a time they deem fit to take it.
Once you make data your friend, you will create more job opportunities for freshers and will be able to hire focused candidates out of those openings.
It's all about understanding how data can affect your hiring process and extracting the best out of it. Data will help you see what worked and what didn’t in past hiring processes and improve your future hiring decisions.
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