Data is in the news almost every day. Especially given our current Covid-19 situation, as we look at trends, curves and simple numbers.
It is important.
It's also important when it comes to recruitment. Running a successful RPO solution, be it either client side or supplier time, it's critical in not only assessing success but also plan for the future, identify improvements and support decisions.
This article is a great little blog on why it's important but also how data is used.
I've managed a number of accounts and clients across a number of years (too many to admit!) and I've always relied on data to help guide my decisions and solutions. Some of the points this article makes I've certainly used myself to help my clients make more informed and hopefully stronger decisions.
1. Benchmark and forecast your hiring has made my campaigns cost efficient. "Recruiting yield ratios can show you how many applicants you typically need to make one hire. If you have too few applications, consider sourcing or re-advertising the role."
2. Start by selecting a few important hiring metrics to track. "All companies benefit from measuring quality of hire, since this metric shows the overall effectiveness of your hiring processes". Increasingly I'm implmeneting candidate experience as preiorty 2.
3. Make sure you act on the data. for example, "if your time-to-hire is consistently greater than your industry average, examine which stages of your recruiting process lag.... Consider diversifying your sourcing methods with social recruiting or using a sourcing tool to help you reach more candidates faster and build talent pipelines."
4. Finally, I always advocate using "data to evaluate the past and plan for the future".
Even if your hiring teams are used to making decisions based on intuition, they will find a stronger ally in data. Data will help them see what worked and what didn’t in past hiring processes and improve their future hiring decisions.
There are numerous products and solutions out on the market to help you. If you're in recruitment it is important to considering their value add - and I would highly recommend our Affinix product suite as a good place to start. Drop me a line and I'll happily talk you through.
Data-driven recruiting is when you use tangible facts and stats to inform your hiring decisions, from selecting candidates to creating hiring plans. Recruiting teams that use data are more likely to be efficient, reduce costs and improve their hiring.