Benefits of data-driven recruitment
Before we get into the benefits of data-driven recruitment, let us first look at what it is. Data-driven recruitment is a method of recruitment that demonstrates how the decision to recruit a particular individual is taken based on data derived and analyzed from past recruitment strategies.
Data-driven recruitments will require a company to look into past recruitments techniques and method that were adapted to give them good results. This will help them target a large talent pool and identify the right colleges to target and the candidates who have the right skills for a job role along with identifying candidates who will stay longer, and who can contribute better to your organization.
Why Companies need data-driven recruitment strategy
Now that we have established what data-driven recruitment is, let us look at why it is important. According to a recent LinkedIn report on data-driven recruiting, adapting this method allows recruiters to ask the right questions, navigate through a large pool of candidate data efficiently, while also helping interviewers and HR personnel analyze the results. Here are a few interesting points you can read to understand how this method of recruitments will help you achieve better recruitment results.
Achieve better recruitment results:
Successful recruitment is one in which a company is able to pick the right candidate and convert him/her into a good team member who stays with the company long enough and works towards improving opportunities for themselves and the company. In order to achieve this, companies need to understand where they can get the best team members, what quality he/she should possess and then recruit accordingly. The only way this is accomplished is by relying on relevant and accurate past data collected and analyzed by the recruiter.
Here are some key data points to analyze while taking the data-driven recruitment approach, a company can start by asking these 3 important questions:
What colleges to target? If a company wants to be successful in its campus recruitment efforts, it’s important to target the right college. But the important question is which are the “right” colleges. Here is where past data will come into play. By looking back at past recruitment data, a company can identify colleges where they were able to draw in a large talent group. A company can also assess students from which colleges were able to ace the interview assessment, clear the interview successfully, perform the job better and stay longer with the company. This analysis will help you pick out and target the right colleges to drive recruitments and help you achieve better recruitment results.
What type of candidates can adapt to the company culture better? When you look at the past data of the skills and demographic characteristics of candidates who have cleared the interview process and successfully joined the company, you’ll be able to identify what skills an interviewing candidate should possess in order for him/her to thrive in your company environment. By looking at how candidates with which skills and background performed well in the interview assessments is useful will help you pick out candidates with similar skill sets, thereby improving your quality of hire and probability of the selected candidates who will do well in your company
How Data-Driven Shortlisting Benefits A Company
Focuses on the right type of candidates: When you base your recruitment strategy and selection process on data analysis, you can identify, select and interview the right type of candidates. This will help you achieve a successful hire and a good conversion rate.
Saves time: Data-driven selection helps you focus only on potential candidates who have a better chance of converting into successful recruits, that add value to the company. This will help companies save time but investing it only in the right candidates and eliminating unfit candidates at the very beginning. Allowing you to fill the position sooner.
Improved quality of hire: By looking at past data such, the colleges that pooled in the most talented candidates and the skills, background and performance records of candidates who successfully cleared the interview assessment and interview, a company can use that data to look for candidates with similar backgrounds and make decisions about choosing the right candidate, thereby improving the quality of hire.
How Pod (formerly )Calyxpod can help:
Now that you are aware of the benefit and importance of data-driven hiring, the next big question is how do you position your recruiting team for success? This is where Pod comes in. Pod offers automated recruitment strategies, that can help you plan, organize and document data efficiently to achieve a higher recruitment success rate through the data-driven approach.
Easy access to candidate records: With our HR recruitment software, you’ll be able to easily access all records of the students and their performance during the selection process. This data will help your recruitment team make more informed decisions about a particular hire.
Documented Interview Feedbacks: With live tracking and interview documentation available on the Pod software, your recruitment team will be able to look at patterns and analyze how successful candidate performed in an interview. This could also help analyze behavioural patterns of successful hires. An interview can look at past records of skills, educational backgrounds, and more of candidates who were successful at the interview and make better decisions when interviewing new candidates, while also avoiding any bias and prejudice.
Identify recruitment champions: When a company is able to track and document its interview process, they can use that data to conclude which recruiter was able to identify the right candidates, what questions did he ask, was the candidate the interviewer selected a right fit for the company and how effective an interview was and so on. This will help you identify recruitment champions in your team, and how effective your interview process is.
Here you have it, everything you need to know about data-driven recruitment and how you can benefit from it. If you are a company looking to incorporate and benefit from data-driven recruitment or incorporate it into your recruitment process, get in touch with us by visiting https://pod.ai
