A recruiter’s job is tough these days. With the competition and the changing recruiting trends, it has become challenging to achieve results in a short time. Today, recruiters who once used to rely on all their gut feeling use mobile apps and social media to find candidates. Today’s recruitment strategies need HR professionals to put in place data analytics at every stage of the recruitment process. You can get a better insight into the process through data analytics in recruitment. This, in turn, improves the quality of your hiring decisions. This article highlights how HR professionals can use data analytics to improve the hiring process.
What is Recruitment Data Analytics?
Recruitment data analytics refers to data to inform decisions about recruitment strategies and processes. This includes analyzing past hiring data to identify patterns, trends, and opportunities for improvement. For example, it can consist of things such as:
- The number of applications received for each job role
- The average time spent reviewing applicants for each role
- The number of applicants who were hired for each role
It also includes analyzing current candidates’ information to predict their likelihood of success on the job. This can help employers make better decisions about who they hire.
Roles of Recruitment Data Analytics
The recruiting and hiring process is essential for an RPO HR professional. Hiring is a long, expensive, and often frustrating process. It’s also fraught with opportunities for error. It can be difficult to quantify how much time and money are wasted due to bad hires. But with the right tools and data analytics, HR professionals can make better hiring decisions. Tools help them avoid those costly mistakes while using key metrics such as turnover rates and productivity levels.
Identify the Top Sources of Applicants
Recruitment data analytics is a powerful tool for HR professionals. They can understand where applicants are coming from and how to optimize the recruiting process. Identifying the top sources of applicants gives you insights into which channels are working and which ones need improvement. For example, your company’s website generates more than 50% of applicants. In this case, you may want to consider investing more in attracting candidates via social media or job boards.
See the Whole Applicant Funnel
With recruitment data analytics, you can see how many applicants reach each stage of the hiring process and what happens. You’ll be able to see where bottlenecks occur and determine whether any red flags could be improved upon, e.g., the low response rate on applications. This information can help you determine where you should focus your efforts in the RPO talent acquisition process. For example, if many qualified candidates drop out during phone interviews or fail to show up for interviews after scheduling them through applicant tracking systems.
Understanding Your Candidates’ Experience
Candidate experience is a hot topic right now, but how can HR professionals measure it? Using RPO technology can provide insight into how candidates navigate your process and how they feel about the experience. For example, you might find that while most of your applicants complete their application on a desktop, a significant percentage complete it on mobile devices. This could show that your application form isn’t optimized for mobile users. You will identify other issues with the application process need to be addressed.
Know Where You’re Losing Candidates
One of the biggest challenges for HR professionals today is keeping up with all the available recruiting tools. There are so many options that recruiters can get overwhelmed and lose track of what works for their organization. Recruitment data analytics allows you to understand where candidates drop off in your pipeline to adjust. For example, if more than 5% of applicants drop out after viewing job descriptions but not completing an application form. In that case, the forms aren’t engaging enough to keep them reading until the end of the form.
Optimize Your Job Postings
With recruitment data analytics, you can analyze your organization’s job postings. This includes analyzing what information is in each posting and which ones received the most applications. You can also look at the number of applicants who applied for each position. You will determine what factors influenced them to use, such as location or salary range. You can make adjustments based on what worked best for each post. For example, if more people apply for a particular job because its location is near a famous city or has a high salary range. In that case, then those are things you may want to include in all future postings for that particular role.
Watch Candidates to Find the Best Talent
If you want to attract top RPO tech talent, you must know where to look for them first. Recruitment data analytics allows HR professionals to check their current applications. They identify which candidates have the highest potential for success within their organization. It also gives them the ability to target specific groups of people who have already expressed interest in working at their company. This means they can focus on attracting only those most likely to join them.
Get the Correct Data
When using recruitment data analytics, you need to get the correct data. You’ll want to look at everything from the number of applicants to a candidate’s performance on tests and interviews. This will help you identify patterns to improve your hiring process and increase your chances of finding the best candidates. Once you have the correct data, there are several different tools that you can use to analyze it and make sense of it all. Some tools are for this purpose, while others offer features to help with recruitment data analysis and other HR needs. You may even be able to build your tool if none exist or if they don’t meet your needs exactly as they stand today.
Data analytics can guide RPO recruitment companies to handle the hiring process better. By identifying patterns and trends in this data, you can track hiring outcomes and make better-informed decisions. Do your candidates drop out of the process before getting to the stage of attending interviews? If yes, what’s going wrong? HR can use data analytics to make better hiring decisions. This includes finding the type of candidates that will help the business grow. No longer is it acceptable to hope that suitable applicants fall into your hands simply. Instead, HR will have to take a more proactive role in hiring through effective sourcing and candidate experience evaluation.