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The power of data-driven recruitment

Updated: Aug 24, 2023

Over the last few years, the world of recruitment has altered drastically. From responding to a classified ad in the local newspaper to being headhunted by top recruiters all over the world to getting jobs through a social networking site, today's employment market is vastly different and constantly presents new options. Hiring individuals who meet specific criteria and are qualified for a particular job role is the primary objective of recruitment. Though the means have changed, the intention to find an individual with the best possible potential for the growth of the organisation remains intact. With the dawn of advancements in technology, it has not only become easier for job seekers but also for recruiters.

It is not just to measure funnel metrics, that is, how many people apply for the job and how many get filtered out, but also many different aspects of the process. Optimizing the funnel is what gets you the numbers. However, the quality of decisions cannot always be measured as it is subjective to every individual. However, this has attempted to be structured into a system. Firstly, track down your decisions and reflect on them if the decision was right and how they can be improved. Secondly, making decisions on concrete, qualitative data against standard data determines how good decisions can be made. Casting a white net and expecting people to come to the organisation is one-way recruitment. The reverse approach is to target one by one. The tabs should always be kept out of the way of how many people applied for the job, how many went through the funnel; how much engagement you get on both sides of the funnel. Understand what channels are helpful and where these channels can be branched out. Use the medium accordingly and realise what works for you and design the strategy accordingly. The evaluation step begins early on. Resumes shouldn’t be the only evaluation criteria to measure ability and talent. Other factors ought to be considered to decide who has the potential and skills for the job role and who does not. The next step is to build assessments throughout the funnel. Interviews should focus on targeted questions that are skill-specific. After having engaged a lot of applicants, there is a ‘closing’ of the job. Having a good close rate is important. Being able to measure and close, say, more referrals or a particular skill, or candidates with better objective evaluation. Data sources speed up the process, reduce hiring costs, and mitigate hiring bias. boosts the quality of hiring relevant metrics and data sources. When there is a choice between two candidates and the recruiter is confused, the recruiter might not find it easy. Therefore, by gathering and evaluating this sort of data, the recruiter has a far more comprehensive perspective of each recruiting circumstance, allowing them to make impartial decisions. Data-driven planning includes data from workforce analytics and delivers a complete view of spend. It can help you identify the bottlenecks that are holding down recruiting and advise you on how to address them.

In Australia, the unemployment rate fell to 3.5 percent while participation grew to 66.8 percent. In India, as of 2020, the majority of Indian firms opted to hire staff using job portals (21%). Professional networking and social media came in second place, with roughly 15% of recruiters using them that year. Surprisingly, 9 percent of businesses preferred direct walk-ins when it came to hiring intent. Whatever strategy the company desires to choose, analytics is not a one-and-done procedure. To be effective in recruiting, businesses must always search for methods to enhance hiring. Analytical skills enable one to confidently double down on one's strengths while eliminating one's weaknesses, allowing one to meet every talent demand in the business. It entails collecting and analysing data using statistics, machine learning, and modelling approaches to best predict what might happen in certain situations. An investigation of several recruitment analytics tools and possibilities before making an informed decision on which solution will work best for the firm. As a result, both time and money may be better spent, the firm can assess and benchmark progress, and advocates for their corporate image can be created.

We have come a long way with our clients. A dedicated team has always been the reason for this. Likewise, we believe in providing a recruitment service that intertwines the employers' needs and the candidates' potential to the fullest, manually selecting candidates for the best job roles in a very cost-effective way. Improve every step of the process and the applicant experience by implementing a robust recruitment strategy with us.

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