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February 14, 2019

Analytics Driving Recruitment for 2019

Vicki Cline

Vicki Cline
Owner/Sales Co-Sourcing

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2018 Recruiting Trend Reports, citing important key takeaways

 
  • Talent acquisition is becoming more personalized in order to attract passive candidates;
  • There is a positive correlation between employer branding and higher quality applicants;
  • Inbound candidate management must be streamlined and automated to engage top talent;
  • Use of data analytics is rising, with nearly 40% of the survey group planning to increase spending on email tools and tracking technology in 2017; and
  • Analytics, automation, and predictive recruiting technologies will define recruitment success.

Recruiter and HR departments will need to take a hard look at their current practices to meet these demands. Data analytics will move to the forefront in how recruiting will be done. Key indicators will be hiring requirements, recruitment campaign success, and candidate attraction.

All companies have a recruitment strategy, either written or one established through years of practice. Organizing the strategy and collecting data on effectiveness will predict future success in recruiting talent. Areas that should be included in the data collection:

Fill time

Track time from the first position opening to the candidate acceptance in days or hours. Track each step of the process in this overall time tracing. With this data, establish averages for each process.

Year one candidate loss

A position becoming vacant again within 12 months is very expensive to the company. Measure the attrition rate by department and by cause (company decision or candidate decision).

Value of the hire

Measuring the value/quality of a new hire in the first year is often difficult unless there are measurements in place.

Cost

Track total expenses of filling the position including time of all individuals involved in the process.

Applicant satisfaction

When an offer is made to an applicant and the offer is refused, reach out to the applicant to gather data on the refusal and add to recruitment data.

As you repeat this process for each position, the analytics will paint the picture of successful recruiting. The time spent now gathering the data will lead to time, money and resources savings in the future.

Comment? You can contact me directly via my AdvisoryCloud profile.

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