Sort Out Your Recruitment Strategy - Data Analytics Companies can Help

04/08/2019

Did you know that as many as 60% candidates lose interest in and move on from job applications that take too long to process? It's the bitter truth that every business needs employees as much as employees need work. Recruitment is a rather tricky process now, given that we've moved on from rudimentary ways of employment. But how can data analytics companies be of any potential help in sorting out your recruitment strategy?

Well, to be honest, more often than not, most businesses suffer from slow hiring processes. While there's already dearth of talent when it comes to procuring the best candidate for the open positions, a slow hiring process only makes it worse, as the best candidate is pulled by a company that seems to be faster than your business in terms of hiring.

To make things even more complicated, employees are now turning away from the traditional job boards and moving to more modern options like social media, primarily LinkedIn and job portals like Indeed-channels that demand your recruitment team to be more than what they used to be.

BI and analytics services, in this scenario, can indeed be a handy help. How? Let's learn.

How Can Data Analytics Companies Help in Recruitment?

Cover for the Inefficiencies of the ATSs:

Application tracking systems are something that almost every recruiter relies upon for queuing up the right candidate. However, obvious as it is, an ATS is great at tracking and sorting application according to some plain basic criteria, but not have recommending the best candidate. Data analytics on the other hand, can help you determine just that and even make forecasts regarding recruitments.

Better Experience on Both Ends:

The best of analytics tools from business analytics companies help you analyze the effectiveness of your recruitment process from criteria like, the number of candidates that turned up, the quality of candidates who were interviewed, who were they interviewed by, document submission, time taken for each step of the interview and much more. This not only lets you catch the loopholes in your interview process, but also helps you optimize the candidate experience by fixing the issues that are analyzed, even that the level of email blasts and replies. You can thus, make your ATS smarter than it is.

Make Hiring Better through Prediction:

BI and analytics services enable you to predict the future by analyzing the present pattern on candidates and interviews. So, knowing what kind of candidate is more likely to turn up for an interview, what kind is likely to get hired, what kind will often stay, how long it takes for a certain sort of position to close, and the like, automates your recruitment process in a good way. It not only saves your time and resources but also helps you make your hiring process proactive.

Wise Allocation of Resources on Channels:

Businesses usually pursue a mix of paid and organic channels for recruitment. And this is precisely why you must know what you are spending and what you are reaping. BI and Analytics Services will let you know exactly that - the investment in each channel and the return on it.

The future of everything and not just recruitment lies in digitalization, and there is no running away from that fact. So, better sooner than later.

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