Data-driven Recruitment: A Guide to Next-Gen Hiring Processes
“Many are called, but not many are chosen”– Yet another apt saying that perfectly fits the scriptwriting told by the movie 'Moneyball'.
The movie is dependant on real events of how Oakland Athletics (A’s) gm – Billy Beane – assembled an aggressive team for 2002 baseball season with his incredible efforts. Players were recruited on the lean budget by using
As the company environment grows more competitive, organizations require more efficient and powerful talent acquisition practices. Data based recruitment seems a natural solution towards this goal.
Traditional Recruitment Methods Suffer Limitations
The amount of time and energy companies go through to locate intelligent, reliable candidates is astronomical, particularly when they would like to recruit massively. Additionally, relying on job board postings, and making a hiring decision according to a couple of interviews leads to inconsistent hiring because:
- Human capacity is limited
- Bias is real
- All data is not readily verifiable
The hiring process mostly depends on guesswork as recruiters can never really be confident that the candidate would do a good job. The traditional process can result in wasting both the company resources and time.
Big Data Recruitment: How's it Better?
Big data analytics allows organizations to create smarter hiring decisions by:
- Removing the subjectivity found in a conventional hiring approach
- Overcome personal biases and hire based on identified capabilities
- Replacing it with measurable data that supports a hiring decision
For big data analytics, data from various sources can be used:
- Social networks: Facebook, Twitter, blogs, comments, images, e-mail, videos, internet searches
- Internet of Things: Sensors, satellite images, logs, weblogs, surveillance images, videos
- Business Systems: E-commerce, commercial transactions, banking, credit cards, medical records
In data driven-recruitment, talent pool data is analyzed and interpreted to get the best candidates for that organization, that too, faster. Data from multiple sources and algorithms is consolidated and analyzed to recommend probably the most qualified candidate for an interview.
Data-driven recruitment, if applied well, might help enterprises discover candidates that can:
- Fit in to the organization’s corporate culture
- Become strong team players ahead
As indicated by a study from LinkedIn, this approach enables recruiters to
- Explore an expansive pool of candidate data
- Analyze the results
- Ask the right questions about the roles they are recruiting for
For incorporating data into the hiring process, organizations must segment candidates based on the following data and criteria:
- Work habits and minds based on vetted assessments
- Quality and ratings of employment referrals
- Career values, interests and motivations
- Generation of recruit
Setting Up Big Data Operations
A lot continues to be discussed about the enormous value that organizations can derive from>(Image Source: Shutterstock)