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Best Ways to leverage data for Recruiting
We have evidences that people analytics can be applied to improve recruitment. This category is also called Predictive Hiring. If you haven’t adopted this method yet than you are lacking in recruitment trend.
In Predictive hiring, modern assessment science and data is leveraged to project candidate’s’ future success on the basis of patterns among the current employees. Rather than traditional recruitment that relies on intuition based interviews and resume screens, predictive recruitment relies on smart algorithm and data to recommend best candidates to hiring managers.
Predictive hiring helps you invest your energy on best fit candidates, drive business outcomes and engage candidates having authentic experiences.
Several crucial learnings have started to emerges in transition from traditional to predictive hiring:
Misleading Information on Resume doesn’t help hire Potential Candidate
Google was popular for gathering possible measurable data and test scores. While analyzing job performance, they observe that GPAs do not work as criteria for recruiting, rather people care more about soft skills such as humility, leadership, collaboration and adaptability.
Advances in predictive hiring are able to measure more fundamental skills instead of relying on resume data.
Cast Wider Net
Industry leaders have made objectives, hiring profiles that are data driven to target and surface potential candidates that are not targeted by your competitors. Organization cast wider searching net to target diverse talent and high fit.
Ways to get Started with Predictive Hiring
Many organization can feel that Predictive Hiring is out of reach. There are various ways to get started to eliminate the risk and investment. You need to begin with a precise and discrete project, generally few roles that are of high value and high volume to your organization. Take someone from HR analytics team or can take outside expert.
Focus on the outcome of the business. You need to focus, what improvements can create difference to your business, whether it is retention, performance, diversity or efficiencies?
Collect all the predictive information. You can begin with hypotheses and form a net around that. Never fall into the trap of throwing data in and algorithm will get the magic patterns. Begin with the data that you already have, which you believe carries signal rich data that can be quickly captured.
Test your hypotheses through analysis test. You can even run a correlation or regression in Excel. Here you can leverage internal or external analytics as they may use basic regression for picking on strong signals or patterns that exist. You need boost weak signals with more complex machine learning algorithms.
Put data in the hands of decision makers. Make sure that all your findings are actionable to capture value, otherwise it will just a research project.
Predictive Hiring is a process. You will learn, accumulate data and will make algorithm data more accurate to make end users understand how to drive better decisions from your findings.
Predictive Hiring is the use of analytics not with the big data but right data. Analytical capability work as a solution to address business specific issues rather than creating generic business intelligence tools. If you haven’t started leveraging Predictive Hiring then it’s the best time to start or hire a staffing company who can do the work for your business.