We’ve already made the case for data-driven HR. So now it’s time to look at the finer details outlining the ways human resources and, even more specifically, your hiring team, can use data to support its various strategies and goals.
To start, we’re going to look at how HR can use recruitment-specific metrics to improve the recruiting process.
Predict Growth, Hiring Numbers and Turnover
Predictive analytics—the use of historical data to make predictions about the future—can provide support to your recruitment strategy in a variety of ways.
Most likely your HR department has already spent time using data to assess turnover rates—an important metric to keep on top of as high turnover is almost always indicative of larger problem. For recruitment purposes HR departments and hiring managers need to take predictive analytics a step further, using this information to assess future growth which in turn can help you determine future hiring numbers.
Using a mixture of statistics, machine learning and modeling techniques, your recruitment team can create a reliable predictive model that provides potential estimates for future outcomes.
Improve the Quality of New Hires
Quality of hire is an important statistic, one that HR departments need to embrace if they want to create a successful recruitment process, after all, the point of recruiting is to find the best talent possible.
Quality of hire considers the value of a new employee based on how much they contribute to your business’s success in the long term. This metric is helps to prove your hiring team’s strategic value to your organization. By tracking this metric, you can demonstrate not just the strategic importance of your recruiting strategy, but also its financial value.
Discover Hiring Issues
Using data in your recruiting strategy provides indisputable insights into the pros and cons of your recruitment process. One of the best reasons you should employ the use of data when you’re recruiting is because it can highlight ongoing issues you may not be aware of—issues that are negatively impacting your recruitment success.
There are numerous issues that could be affecting your recruiting process, including:
- Attracting the right candidates
- Engaging qualified candidates
- The speed of the hiring process
- Providing a positive candidate experience
You can use data to learn what works and what doesn’t in your recruitment process. Data can demonstrate areas that need improvement, enabling you to make the necessary adjustments.
Data Prevents Emotion-Based Decisions
There are many times in business when we make a decision based on our gut feelings. While emotion is nothing to balk at, it’s not always the most reliable. When we allow our emotions to dictate our choices, it can often lead to unconscious biases such as the affinity bias—our tendency to like or be drawn to people similar to ourselves.
Using logic and reason is the best way to avoid biased decisions and that’s the beauty of data. While it’s not infallible to bias, it does a better job of avoiding it than people. Data can highlight a candidate’s skills, personality, cultural fit and other important variables.
Using data to help with your decision making eliminates many of the uncertainties that arise during the hiring process.
Make Smarter Decisions
Data-driven decision making improves the overall quality of your hire. It also improves your recruitment process. By using recruitment metrics in your hiring strategy you’re not only eliminating unconscious biases, you’re gaining tangible insights into your business and the talent available to you.
Automating recruitment is the first step towards data-driven recruiting. Using technology for recruitment can help your hiring team when it comes to identifying the best candidates, posting open positions and staying on top of job descriptions.