Data-driven recruitment involves making hiring decisions based on data sources and recruiting metrics – allowing you to go beyond traditional screening and interviewing processes.
By collecting and analyzing data, you can eliminate common unintentional biases that can limit your discovery and selection of the right talent. When you rely on insight from data to help you make hiring decisions, you can avoid hiring the wrong person based on your gut. When your decision-making is informed and objective based on analysis and metrics, you improve the quality of hires and promote a more inclusive workplace.
Using data-driven recruitment practices also helps decrease hiring costs as you identify platforms where you are most successful at finding qualified candidates – allowing you to focus your resources in the right places rather than waste money elsewhere.
Data-driven recruiting also improves the candidate experience, which is important because the candidate experience plays a role in influencing the candidate’s decision in accepting the job offer if they are selected.
How to Shift Towards Data-Driven Recruiting
To incorporate data into your hiring process, you need to identify important metrics to track, such as application conversion rates, cost-per-hire, time-to-hire, source of hire, and job offer acceptance rates. You can segment your metrics based on specific recruitment key performance indicators (KPIs), categorizing metrics by quality, cost, and speed. Beyond time-to-hire metrics, other speed-based metrics would include time-to-acceptance and time-to-start. And other cost-based metrics beyond cost-per-hire can include applications-per-channel and job ad performance.
Your best source of insight into the metrics to track and hiring problems to overcome will be your hiring managers. They can tell you which type of data will make the recruitment process more productive and produce more qualified candidates. Once you’ve identified which metrics matter, you can leverage data-collecting strategies such as applicant tracking software, surveys, or Google Analytics.
A good way to start collecting data and insight into your recruiting process is to interview your existing employees. It may surprise you how many of them still remember their journey to becoming an employee of your company. Provide employees with a confidential channel to answer questions about the recruitment process they experienced. Include questions that reveal areas of improvement.
It also depends on which areas of the recruitment process demand improvement. You may want to reduce costs on advertising or improve the candidate experience which has a direct impact on your brand reputation. By analyzing data, you can track trends from different recruitment channels and job postings to determine where you are attracting the most qualified candidates and which ads are gaining the most engagement. Another goal may be to reduce emotional bias as much as possible, which can be achieved by relying only on the data, metrics, test scores, and output rather than depending on in-person interview performance.
If you have more questions on how to optimize your recruiting by leveraging data, I can help you.
I am currently taking new applications for coaching engagements. Please complete this short application https://form.typeform.com/to/RRtx2GVy
If you qualify, we can take the next steps.
