How Analytics Will Permanently
Change How You Hire in 2020
Recruitment Analytics is a virtual goldmine of valuable hiring information and is the source of data-driven recruitment. With consistently and efficiently collecting top-tier candidates being a Whitham Group specialty, the benefits of using analytics in our recruiting strategy are endless.
Here are just a few ways we use analytics to hire and how you can too.
Improve Effectiveness
Predictive analytics leverage complex technology and data to discover trends and predict behaviors and results of various aspects of the hiring outreach and marketing process. However, determinations can only be made based on the quality and quantity of data that are input. When key pieces of information are collected, the algorithm becomes the first line of defense to determine the most eligible and qualified candidates. Time and money are saved in the process.
Gather Continuous Feedback
Analytics is an easy way to identify any skill gap that your team needs to fill. Assessing what your current team needs for long-term success is half the challenge of creating the job descriptions. Analytics will save you from a cookie-cutter job post with a generic position description.
Precision and specification are going to attract top-tier candidates and provide your team with exactly what it needs. Continuous feedback from analytics cuts out the guesswork and helps improve your current workforce strategy for the success of your team and overall organization.
Increase Employee Retention Rates
An increasing amount of companies outsource their talent acquisition to specialized recruiters in hopes of significantly improving their employee retention rates. While people leave their jobs for a myriad of reasons, there are ways a candidate demonstrates patterns that indicate non-commital behaviors and frequent career shifts. In this way, analytics works like statistics but saves your bottom line in a way statistics can’t.
What Else Can Be Improved Using Analytics?
In order to assess recruitment metrics, analytics are invaluable at helping establish the cost, timing, and quality of a new hire. Depending on the parameters defined by your analytics system, here are additional key areas of the hiring process that will be measured and improved.
Lead Time
Analytical prescreening will help determine the amount of time between application to hire and from interview to hire.
Candidate Sourcing
Analytics will pre-determine the likelihood of finding your next hire from various sources by addressing:
- How much each source cost
- How many hires from each source
- Engagement and performance per source
- The retention rate of each source
Quality of Hire
The value of analytics for hiring improves overtimes. The more data collected the more valuable analytics becomes. Time is most necessary for analyzing the quality of your hire and data can be collected at the following timeframe.
- First-year performance evaluation
- First-year engagement scores
- Competency growth after one year
- Promotions evaluation after three years
Recruitment Experts Value Analytics
Whitham Group tailors the search for your next executive to align with your company values and specializes in coordinating a qualified candidate that matches the initiative of the position. Whitham aims to add only positive data to your analytics with talent that is pre-qualified on a variety of terms. Discover where data meets experience when you collaborate with an expert executive recruitment team at Whitham Group.