Are you sure you want to logout now?
A recent article in Forbes magazine highlights, “Those HR teams who can seamlessly work with data are the ones who will recruit most successfully in the coming years.” So what does hiring driven by data analytics really entail?
ERE Recruitment Intelligence explains: Data is the raw capture of information or statistics used in analytics. Analytics, imperative to survival, is using that data to predict what the future may hold.
Let us understand this with the help of the example of Xerox. The company was investing heavily in training employees and realised that each employee leaving the company was costing them a lot. They wanted to remedy their hiring process in order to ensure that they hired candidates who would stay with the company for longer periods. They implemented data analysis in their hiring process to help Improve Talent Acquisition.
The focus of Xerox’s effort was to identify correlations between efficient, long-term employees and their scores on personality traits. They found certain personality traits indicative of a good employee and focused their hiring efforts on applicants with similar traits. The result: Premature attrition rates fell by a fifth during a six-month trial.
Whereas the requirement for each organization differs, most recruiters create a model focused on data analytics approach: Select applicants and then statistically measure the success of each step of the model. For example, if the conversion rate from an applicant to the job offer is low, then the recruiters might want to change the way they market the job vacancies in order to receive applications from more suitable job seekers. Once they start receiving applications from desired candidates, they can continue to analyze conversion data from each of the stages to increase the quality of their methodology. The data to be collected would be specific to each organization and each job role. This data analytics approach is great for helping Improve Talent Acquisition.
Recruiting expert, Michael Morell stresses that data is not much help without the requisite analysis. And rightly so. The challenge with data is not the collection but it is the ability to analyse and understand the data. Hence, the best recruitment teams and HR teams must have the right tech and tools as well as the expertise to use the collected data. Morell says, “Personal interaction and communication remain powerful sources of data — often more effective than publicly available information about candidates.”
In predicting workforce requirements: Predictive analytics can provide understanding about the organization’s hiring needs, filling vacancies, and understanding if a company is lacking talent, among other crucial aspects related to the workforce.
Conducting root cause analysis of attrition: Data analysis can reveal the root cause of attrition and help in using this information to make positive changes within the organization.
Targeting available talent supplies: By building a detailed map of qualitative and quantitative data about the availability and supply of talent, organizations can save ample time in searching candidates and reach out to the right places in times of vacancies.
Defining candidate success profiles: Predictive modelling can help employees identify the candidates who possess the right traits for particular jobs. This can help organizations assess how successful and valuable a candidate would be to the organization.
Once organizations have collected data and analyzed it, the resulting information could be used to narrow down the right process or the specific needs, particularly to Improve Talent Acquisition. With the engagement of background verification agencies, organizations can further strengthen their decision-making related to hiring. For example, academic background check results can be matched with data from interviews, document verification results can be matched with the information and answers provided by the candidate during interviews. For organizations, reports from various background checks can form a key part of data collection.
Data-driven recruitment, although, long-term, can shape the business in driving profitability and in creating an efficient organization. However, its short-term results are beneficial too. For those working in the HR, data-driven approaches can revolutionize performance. Are you willing to jump in?
Reference:
https://www.itbusiness.ca/blog/copy-xeroxs-data-analysis-model-for-hiring-succes/49839
https://www.jibe.com/ddr/9-examples-of-how-big-data-will-help-talent-acquisition-teams/
The onset of COVID-19 clubbed with the speed with which it was declared a pandemic led to worries, s...
Read MoreTable of Content Background Screening Metrics to Measure Screening Time Cost Per Emp...
Read MoreTable of Content Here are six common employee background verification myths and the truth abou...
Read MoreThe COVID-19 pandemic has disrupted the traditional workplace environment. Be it meetings, presentat...
Read MoreTable of Content Introduction FactSuite as Your Employee Background ...
Read MoreBe it a budding company or an established conglomerate, hiring a new candidate is an investment for ...
Read MoreComplying with HR rules and regulations rests at the end of the priority list of many startups and s...
Read MoreThere was a time when the responsibilities of the HR department were limited to just the hiring and ...
Read MoreA brand is not an entity without a face. It lives, it breathes and it definitely communicates. A ple...
Read MoreTable of Contents Introduction Mistake 1: Consent – Because It’s Background...
Read MoreGone are the days when employees background check was limited to last employment verification, drug,...
Read MoreInternal Communication is imperative to maintain the engagement of employees for every company. &nbs...
Read MoreAn Ever-increasing population, soaring property rates, migration to different cities in pursuit of a...
Read MoreTo keep up with changing times, HR managers need to get work done efficiently. Technology has become...
Read MoreIntroduction For a startup or a growing business where the core team dons multiple hats, hiring t...
Read MoreMisleading employers in a resume occurs more often than expected. It is such common practice that in...
Read MoreThanks to the pandemic, companies now know ‘remote works’. So, what next? Hiring the rig...
Read MoreTable of Content Background Check for Freshers Education check Education reference c...
Read MoreTo begin with, let’s look at some hard facts – the rate of unemployment is at an all-tim...
Read MoreTable of Content Why Did the Candidate Fail? Find Out the Reasons. Refer To Your Company’s...
Read MoreIf you own a company, it is best to hire background verification companies for employee background c...
Read MoreRisks – every industry is prone to different risks; those linked to its employees are the most...
Read MoreFor businesses, difficulties due to crisis situations – World War II, 9/11, among others &ndas...
Read MoreManagers are vital to the growth of organizations. Managers lead teams, strategically drive projects...
Read MoreHRM plays a crucial role in business development - for recruiting, managing to optimise company grow...
Read MoreWhat do you consider your employees? An asset or a liability. Many of them consider their employees ...
Read MoreIn 2008, Goldman Sachs coined a term – ‘returnships’, a program to help female pro...
Read MoreYou applied for a job, your C.V. got shortlisted and you’re invited for an interview. The only...
Read MoreDrones delivering pizzas. Bots answering customer questions. Autonomous trains ensuring workers reac...
Read MoreThe success of any company highly depends on the efforts of its employees. Businesses often struggle...
Read MoreApart from skills, knowledge, experience and an educational background related to the job ...
Read MoreUnknowingly and sometimes knowingly, job seekers often divulge personal, confidential information wh...
Read MoreFrom the time we wake up to the sound of an alarm clock to answering messages on the phone through t...
Read MoreFraud, money laundering, theft, violence, crime are things that happen in organizations. Even after ...
Read MoreWith a growing trend of global and cross-cultural business environments, a need to fill skills-gap a...
Read MoreResearch by CareerBuilder revealed that 70% of employers now use social media background c...
Read MoreOnly 39% of job seekers “try” to negotiate salaries. Women negotiate lesser than men. Yo...
Read MoreRecent reports indicated a 5% probable dip in hiring intention in the IT sector from October 2019 to...
Read MoreThere are several ways in which one could chart a career plan. In today’s fast-paced work envi...
Read MoreTo respond to an email right now or later? To attend the CEOs conference in the US or not? To expand...
Read MoreLeaves are one of those things that everybody wants. While it is important to work, working too much...
Read MoreA diverse and inclusive workforce is defined as one that respects and appreciates differences in gen...
Read MoreFirst impressions at interviews can be deceiving. With work cultures and the nature of work changing...
Read MoreThe terms ‘knowledge’, ‘skill’ and ‘ability’ are quite often use...
Read MoreA Gallup report, ‘Why Great Managers Are So Rare’, shared that organizations fail to rec...
Read MoreWill your employees stay or jump ship? This one aspect can tell. Employees leaving orga...
Read MoreSocial Media has been the game-changer for every business over the years. It is estimated that at le...
Read MoreA report by Grand View Research projects the global human resource management industry to reach $30 ...
Read MoreTable of Content Introduction Understanding Team Familiarity Advantages of Team Familiari...
Read More“Do you have a best friend at work?” This is a question that Gallup has ask...
Read MoreGone are the days when people found jobs through newspaper ads or posters of ‘help wanted&rsqu...
Read MoreMost recruiters will run an online search for your name. Will they be impressed with what pops up?&n...
Read MoreYour company might be organizing team-building activities in or outside of the office. Every organiz...
Read MoreContract-based support staff verification is necessary to address vulnerabilities and create a safe ...
Read MoreReceiving applications, scanning through CVs and separating the best from the rest, interview rounds...
Read MoreBad hires have cost Zappos over $100 million, as estimated by CEO Tony Hsieh. Two hiring mistakes se...
Read MoreRecycling is a word we all are well aware of. There is hardly anyone who is not acquainted with what...
Read MoreA McKinsey & Company report states that around 800 million workers, globally, might lose their j...
Read MoreTable of content Benefits of database check in background verification Kinds of database checks ...
Read MoreWould you like to build the perfect team of employees in your organization? Businesses often strive ...
Read MoreSouthwest Airlines allows flexibility to employees. They are allowed to have fun at work and even gi...
Read MoreUrban sprawl, additionally called spread or rural spread, the quick development of the geographic de...
Read MoreEver wondered why CEOs are mostly male and why the number of female employees is lesser than the mal...
Read MoreKey points: Advanced technological skills will see the strongest growth in demand. The deman...
Read MoreWe've all heard or read multiple "bad tenant" stories from property owners, newspapers...
Read MoreIrrespective of its size, every organization has support staff members. Though they are not involved...
Read More“Internship” the word is synonymous with experience, learning, and much more. Internship...
Read MoreWith the large-scale vaccine rollout, many organizations are wrestling with the transition from work...
Read MoreDisruptive innovations are developing new business models and eliminating outdated ones. Due to this...
Read MoreTable of Contents What Is a Gig Economy? How Does a Gig Economy Work? What Impacts a Gig E...
Read MoreIn times past, employers had to handle HR processes manually, spending an ample amount of time compi...
Read MoreToday, hiring around the globe is simpler than ever. Assuming you can identify, choose, and employ q...
Read MoreS.No Table of Contents 1 Current Challenges in Recruitment and Hirin...
Read MoreThe United Nations estimates that there are over 244 million migrants worldwide, providing a substan...
Read MoreIn today's hypercompetitive world, many business leaders are realizing the fact that the best ta...
Read MoreTable of Content Asian Perspective on Three Steps to Become a Credible Activist Critical Les...
Read MoreTable of Content Introduction What is Frontline Employee Engagement? Ways to Engage With Frontlin...
Read MoreAfter a pandemic or remote working blurs the line between work and life; therefore, HR leaders prior...
Read MoreTable of content What is Employee Engagement Model? Why Engagement Models Key to Thriving Workplac...
Read MoreDiversity and inclusion (D&I) is an essential topic of discussion in almost every Organisation n...
Read MoreTable of Content Introduction Aadhaar and background verification Aadhaar and its misuse ...
Read MoreHuman resources are the cornerstone of every business for a plethora of reasons. From improving the ...
Read MoreIt is becoming increasingly common for employers to screen potential employees through a criminal ba...
Read MoreThe Client In this case study, the customer is a well-known microfinance organization situated in K...
Read MoreLayoffs are becoming more common in today's fast-paced, ever-changing job market. Comp...
Read More- Elucidating on the Global Economic ripple effect of the crisis on Banking Regulations and Financia...
Read More“In countries at all levels of economic development, a woman’s personal preference is th...
Read MoreOver the past decade, FactSuite has earned a reputation as one of India's most premium authentic...
Read MoreClient: The client is one of Singapore's largest staffing and workforce management companies.&nb...
Read MoreIn the Indian context, employee background verification has gained significant importance ...
Read MoreSince its debut in 2008, the cricket spectacle known as the Indian Premier League (IPL) has captured...
Read MoreEmployers are the fuel of any company. Regardless of the applicant's performance or fit with the...
Read MoreClient: A company seeking to verify the credentials of a potential hire with some alerts in criminal...
Read MoreNo matter how strategically an HR handles the team, chances are- there is an employee who fighting t...
Read MoreRansomware attacks have witnessed a dramatic surge in India, posing formidable challenges to organiz...
Read MoreTable of Content Introduction Types of Identity Theft Financial Identity Theft &n...
Read MoreWhen it comes to hiring new employees, it is essential to conduct thorough background verification t...
Read MoreTable of Contents Introduction Importance of Verifying Identity and Credentials ...
Read MoreAs the hiring process for new employees becomes increasingly complex, companies are turning to backg...
Read MoreTable of Contents 1. Support Staff Jobs in Food Delivery Mark...
Read MoreTalent acquisition and talent management are crucial processes for any organization to attract and r...
Read MoreAs workplaces become more diverse, it's crucial for employers to prioritize diversity and inclus...
Read MoreTable of Content 1. Introduction 2. The Benefits of Conducting Background Ch...
Read MoreIntroduction Under the visionary leadership of Prime Minister Narendra Modi, India is boldly emba...
Read MoreTable of Content Introduction The Value of Criminal Background Checks Legal Compliance ...
Read MoreIntroduction Blue-collar workers and white-collar workers are two distinct types of employees, ea...
Read MoreTable of Contents Introduction What is Dual Employment? How to Check Dual Employment and ...
Read MoreIn the ever-evolving landscape of marketing, a new force has emerged – the enigmatic Gen Z. Bo...
Read MoreTable of Content Introduction This Is Why Background Verification Is Vital. Trustwort...
Read MoreAadhaar is the 12-digit unique identification number issued by the Unique Identification Authority o...
Read MoreTable of Contents 1. What is Employer Branding? 2. Who should be involved in employer branding...
Read MoreTable of Contents 1. Introduction 2. Understanding Corporate Zombies Barely Covering Op...
Read MoreWe use cookies and similar technologies to help personalise content, tailor and measure ads, and provide a better experience. By clicking OK or turning an option on in Cookie Preferences, you agree to this, as outlined in our Cookie Policy. To change preferences or withdraw consent, please update your Cookie Preferences.