World over across industries the potential of Big Data is being realised. With the power of its predictive analytics it has made way in the recruitment domain as well, and why not. There are more ways than one in which it can be utilised by the recruiters.
Recruitment is not just about filling positions quickly, it is about finding the right match which makes both the employee and the employer equally happy. Finding this fit is no longer a guessing game or brainstorming session, it is all about analysis of existing data to extract useful information which contributes in decision making.
- Forecasting workforce requirements: going through current staff and hiring trends in the past can contribute in predicting the workforce requirements. Once known beforehand, the business may train in-house or have external candidates in the pipeline for the critical positions.
- Knowing where to advertise: with numerous job boards and social media channels, talent acquisition can be exhausting. Though if we know when and where to advertise, in order to reach to our target audience, the chase can be shortened. In addition resources spent on advertising and going through the responses may be saved.
- Analysing candidates: Accessing resumes from databases and online profiles can turn cumbersome, though by analysis candidates’ behaviour and establishing patterns misfits can be eliminated (example: placing job hopper in a permanent role).
- Curbing attrition rates: At times the not so obvious reasons could be resulting in high attrition rate. Compiling data could reveal the possible factors (like commute time) contributing to the trend and help improvise hiring strategy.
At the end of the day everyone is looking at employees who deliver, are happy and there to stay. Harnessing evidence-based big data’s power allows us to achieve this and more.