Data-Driven Hiring Using Big Data and Analytics to Improve Your Hiring Process

There are many things that human resource (HR) professionals must consider to ensure that they’ve hired the right job candidates. It’s important to find the right people for available roles and make sure that they will stay with the company. Also, new hires must fit in with the current corporate culture, enjoy their work and have the skills to fulfill their responsibilities.

Furthermore, lack of diversity and equality is an enormous problem that business leaders can, and should, fix to ensure optimal outcomes for their enterprise, and to better apply efforts toward social equity. There are many intelligent, skilled and diverse candidates ready and waiting to fill positions. Considering peoples differences, and using data to see where they can excel in jobs roles can help institutions and businesses improve how they hire. By finding and seeking out minories, and hiring new types of people, organizations can improve the entire hiring process.

Big data technology is the latest development in modernized recruiting. Now, big data and analytics are improving the hiring process and making it easier to find the right candidates and accurately predict whether they will fit in well within the organization.

What Is Big Data and How Can It Help Businesses With Hiring?

Enterprises are using predictive analytics everywhere — from online shopping to monitoring consumers’ television viewing choices and travel arrangements. For instance, when people use the Internet, they’ll frequently see banner advertisements related to their recent search engine inquiries. This is the work of predictive analytics. HR executives use similar technology to find the right employees.

Using big data technology for recruiting efforts has repeatedly proven more effective than traditional hiring practices. The technology helps recruiters save time and money, compared to the standard trial and error method of finding workers. Additionally, big data systems help human resource executives reduce turnover and optimize employee performance.

Benefits of Data-Driven Systems: Efficiency, Reduces Costs and an Improved Hiring Process

Historically, human resource professionals have relied on intuition when searching for potential job candidates. This standard hiring practice is time-consuming and labor-intensive. Data-driven systems provide human resource professionals with tangible facts and information that informs their hiring decisions. Human resources departments that incorporate data-driven hiring are more efficient, cost-effective and more likely to quickly find better job candidates. Moreover, data-driven hiring improves the quality of enterprise talent pools.

The Value in Getting the Right Employee Match for Retention

A recent survey revealed that talent acquisition teams who are proficient in using big data recruiting systems are twice as likely to optimize recruiting and three times as likely to reduce costs and improve efficiency. The actionable insights provided by big data systems save time and money by helping HR leaders narrow down appropriate job candidates. The technology helps enterprises gain an advantage over their competitors by offering better salaries and benefits. These firms have a better chance of retaining employees and developing workers to their full potential, as well as employing workers in ideal positions that enhance their job satisfaction.

Data-driven empowered human resource departments can fill positions quickly without navigating a mountain of needless paperwork. Furthermore, using big data recruitment systems, HR professionals can accurately gauge the potential of tentative new hires.

Recruiting Methods Have Changed

Finding skilled, qualified and available talent is difficult in today’s job market. There’s a massive amount of job candidate information available, but sorting through that amount of data is a challenge. Big data recruitment systems help HR professionals aggregate and evaluate an enormous amount of data to discover trends and figure out the best ways to find new talent.

Today, big data recruitment systems — also called people analytics — gives HR professionals a complete overall view of job seekers. In fact, 64-percent of senior HR executives believe the big data is transforming the boundaries of modern commerce.

Getting Educated in Data Science and Analytics

More than 40-percent of enterprise leaders report that their firms lack sufficient data science talent, and economists forecast that employers will face a 50% to 60% shortage in the big data analytics talent supply starting in 2018. This sets the stage for success for future data science hopefuls. These professionals gain skills in disciplines such as calculus, linear algebra, statistics, machine learning, database languages, programming — such as R and Python — as well as data mining and software engineering, but most of all these skilled experts have an insatiable thirst for knowledge.

Business leaders can ensure organizational diversity by hiring diverse interviewers. Women, for example, are more likely to join a firm when they see that women are appropriately represented, and research suggests that they’re more likely to accept a job position if there’s a woman on the interview panel. This kind of study highlights the importance of rethinking corporate diversity initiatives.

Diversity initiatives are complex. They’re about more than gender, racial or ethnic delineation. People have different educational backgrounds, economic statuses, political and religious beliefs and are from different regions — making diversity a topic that requires deep thought, research and introspection. The most important things to remember when promoting diversity are to recognize past indicators of success, the value of the diversity journey and — most of all “ the value of people.