Here at WunderTalent, we use both traditional and data-driven recruitment methods to find the best candidates for our clients. Data-driven recruitment involves using data to optimise the hiring process, which can have numerous benefits.
Using data-driven processes makes life so much easier as well as improving efficiency. So, what does that mean? It means it makes recruitment more cost effective which is always a winner.
But what does data-driven recruitment actually mean? Allow us to explain…
Well, the clues in the name, its utilising data to optimise your recruitment and hiring process. Every business has (or should have) a hell of a data around their recruitment, so it makes sense to use it.
You should all know (and if you don’t then you really need to pull your finger out):
- Percentage of bad hires
- Cost of a new hire
- How long your hiring process takes
- Referral data
- And so much more…
If you haven’t gathered this data and used it in the past, now is the time. And why is that?
1. It improves your quality of hire
If you need to know more about what this means, check out our previous blog. It doesn’t take a genius to know that hiring the best candidates will be significantly beneficial to your company. Using data will significantly improve your chances of putting the right person in the right place.
2. Decreases hire time
Did you know that in 2022, the average time to hire was 95 days? If your hire time is worse than this or you need to fill a position quicker, using data-driven recruitment will help with this.
You will need to know things like how long it takes to hire a person in your field and how long each step of your hiring process takes. This will allow you to plan ahead and make informed decisions, which in term improves forecasting.
3. Decreases the cost of hire
Decreasing the cost is something everyone wants to hear. By analysing data on the length of time it takes to fill a position and the sources that bring in the best candidates, companies can streamline their hiring process and save money.
You also need to look into your hiring process. How long does it take? Time is money after all.
Is there a way you can reduce the amount of interviews or steps in your process? Using tools like pre-interview skills assessments can quickly rule out unqualified candidates, saving time and resources.
4. Nail the candidate experience
Everyone wants the best talent on the market, so there’s a chance those candidates are getting hit with offers/interviews left, right and centre. You need to make sure you aren’t putting them off before they’ve even started.
So how can you avoid this?
- By going mobile. Over half of job searches are done online so your job ads need to be optimised.
- Make the interview process more engaging and inclusive so you can attract top talent and stand out from competitors.
5. Cut the bias
Finally, using data can help reduce bias in the hiring process. By keeping candidates anonymous for as long as possible and using inclusive language in job descriptions, companies can ensure that their hiring decisions are based on merit, rather than unconscious bias.
So, use the data you have and use it well. Or, you could always use a recruitment agency who are experts in using this data every day…just saying.