Improves the candidate experience
Factors which affect candidate experience are brought to the fore front with analytics. You can now measure the effectiveness of each of the factors. You will be able to see what is causing the candidate to withdraw his/her application. This can be due to time from the first contact, time between the different stages or the name of the interviewer etc. Therefore, the odds of losing strong candidates will decrease.
Brings diversity to the recruitment process
With the help of analytics you can keep track of the important demographic ratios like veteran status, ethnicity and gender. This will give you a chance to increase diversity at all stages of the hiring process. With traditional methods of recruitment, it is difficult to specify if you are reaching diversity levels during the hiring process.
Diversity is increased in the workplace by using big data and this leads to more innovation, engagement and worldwide competitiveness, thus helping you to improve your recruitment process and efficiency.
Hiring more than required creates a cost burden for your organization
Under hiring on the other hand can reduce your productivity. Fact-based hiring plans are needed to stay up to date with the hiring process as hiring requires a fine balance. With the help of data driven processes, more accurate hiring plans can be made. These processes use forecasts based on historical rates for factors like hiring success, employee turnover and movements between the departments internally. In addition to this, the process also gives information about the amount of money being spent. You can calculate the total cost of activities like RPO recruiting and internal agency instantly. Thus, you will know if you are overspending.
New technology will make it faster and easier for you to get the critical data you need. Cloud-based ATS offer the best methods to have a complete view, a vital requirement for monitoring the entire process of hiring and also to put the information of all top performing employees in a single place. This will enable you to hire faster and better but also get ahead of the business demand.
Analytics and data driven recruitment processes are a new scientific and technological advancement; it connects all the employees’ data; it can save the recruiter’s time; help fill vacancies quickly and match candidates to their correct roles. Analytics let you focus on your positive points and eliminate the week points so that you can meet all the talent requirements of your organization.
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