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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