Recruiting Analytics: Reducing Your Hiring Timeline
As a recruiter, it can be difficult to manage a large number of candidates and the data that comes along with it to make your department more efficient and in tune with the candidates you attract. The deeper you dig into the data the more your actual recruitment practices fall by the wayside. So, in order to make sense of all of the data and all of the information within the candidate files, you need the right tools to get the job done. Your recruitment department needs an intuitive recruiting platform.
Aggregate Data from Recruitment Software
Applicant tracking systems, human resource information systems, and the like are all invaluable tools for the recruitment field. While these are wonderful applications for recruiters, they often don’t communicate to produce the data recruiters need to improve their processes.
While an ATS is vital to the recruitment process, 54% of recruiters are not completely satisfied with the capabilities of the platform. Adding a supplemental program that aggregates the data from recruitment software like an ATS into one digestible piece of information takes a large portion of the administrative burden off of recruiters. Adam Ward (@wardadamp), Recruiting Lead at Pinterest, said:
“As recruiters, we can download the data we need, manipulate in a way to show leading indicators for clients and hiring managers. That puts everyone in a better position to make sure we’re getting the best talent.”
Big data is a concern for many organizations as the growth of information explodes. Careful insight into who you recruit can play a big part into the success of company hiring decisions later on. Diversity is a growing buzzword in the recruiting space, and with the EEOC and OFCCP tracking statistical significance, it’s vital organizations pay attention to candidate data. Because data analytics can be very complex in human capital management, it is essential organizations prepare their recruiting departments have the right tools and personnel in place. McKinsey Global Institute estimates that the U.S. alone will be 1.5 million data analysts and business managers short of being able to use this information in merely 6 years.
Evaluate Recruiting Costs
What better way to assess the effectiveness of your recruitment practices than evaluating the cost? It sheds light into areas in which the department can save money and time. The current average hiring time is about 25 days. That means extra time hiring, which ultimately means more money in recruiting. If that amount of time doesn’t agree with your recruitment goals, you need a tool that accurately helps you decipher the data that tells you how much you currently spend and where you could save. John Burleson (@jwburleson), Marketing Content Manager for Randall-Reilly, said:“Recruiting drivers is more than just getting enough applications to find the drivers you need. Your campaigns need to be as efficient as possible. Breaking down your cost per hire by channel can give you a better idea of where your most qualified applicants are coming from, even if it is primarily from one source. It can also help you identify which tough points are effectively driving these qualified drivers to apply for your positions.”
“Recruiting drivers is more than just getting enough applications to find the drivers you need. Your campaigns need to be as efficient as possible. Breaking down your cost per hire by channel can give you a better idea of where your most qualified applicants are coming from, even if it is primarily from one source. It can also help you identify which tough points are effectively driving these qualified drivers to apply for your positions.”
The effectiveness of the recruiting department is ranked on how quickly they attract candidates and how precise their efforts are. To gather this information, you need a platform that collects this information from each of the recruitment systems your department uses. Acting as a medium, this platform will communicate with these systems to analyze and interpret important information for recruiters. What does this platform need to be effective? It has to be able to gather information and analyze it, as well as track recruitment effectiveness and evaluate the cost of recruiting.
Are you ready to take the administrative burden off of your recruitment team?
photo credit: unsplash.com