Companies are unable to hire quickly enough to meet the expectations of their workforce, and competition is tough for those high-potential employees who can produce creative solutions or go above and beyond for your customers. The key to recruiting and retaining the appropriate personnel to accomplish corporate objectives — and employing them at the right price — is to use data-driven recruitment.
The recruiting process is a gold mine of data that, when correctly mined, exposes crucial information about whether or not a candidate will be the high-performing employee your company requires.
Here’s how to make the switch to data-driven recruiting:
Begin by identifying a few key hiring metrics to monitor. Measuring quality of hire is beneficial to all businesses since it demonstrates the overall success of your hiring operations. Other often used measures are:
Data collecting might take a long time. Make things as easy as possible for yourself. Here’s how to do it:
Decide what you’ll do with your data once you’ve gathered it. Here are some instances of frequent recruitment difficulties that data may help you identify, as well as solutions:
Examine which phases of your recruitment process are lagging if your time-to-hire is routinely higher than the industry norm. Here are a few examples of bottlenecks:
Having your finest prospects decline job offers results in increased costs and positions remaining empty for longer periods of time. If you’re getting a lot of employment offers but they’re all being turned down, there are a few things you can do:
The number of employees that quit immediately after being employed is referred to as new hire turnover. When your new recruit turnover is excessively high, there are two typical remedies:
Data alone will not tell you why something occurs. By mixing diverse sorts of data, you can gain a deeper understanding, but you must still interpret your results.
By incorporating data into your hiring process, you may improve the quality of your hires. You can also benefit from data-driven recruiting if you:
7) Use data to assess the past and plan for the future: Even if your hiring teams are accustomed to making selections based on gut instinct, statistics will prove to be a more powerful friend. Data will allow them to identify what worked and what didn’t in previous recruiting procedures, allowing them to make better hiring decisions in the future.
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