With the rise of big data, recruitment analytics should form a key part of every company’s talent acquisition strategy. A comprehensive recruitment management system with integrated applicant tracking software increases the success of hiring strategies by allowing HR to evaluate your best talent sources and the quality of each hire.
For employers unconvinced about the value of recruitment analytics, read on:-
Reduced hiring costs : As talent acquisition strategies fail, HR teams plough more resources into online recruitment in an attempt to appeal to qualified applicants. In the meantime, candidates leave your pipeline before the interview stage, prolonging the hiring process and increasing costs.
Solution : Comprehensive analytics will enable HR to assess which of your e-recruitment processes are the most successful and track the progress of candidates most likely to succeed in your company through your talent recruitment system. Integrated applicant tracking software provides detailed reports of communication with individual candidates, identifying at which point they lose interest in your vacancy. Take advantage of recruitment management systems to engage more thoroughly with candidates in your pipeline through automated, personalised messages offering updates on the progress of their application.
Higher rates of employee retention : High rates of employee turnover result in low morale and disengaged employees, which in turn impacts on the cost of hire.
Solution : The candidate experience extends beyond the interview. Companies with a solid onboarding process for their new hires enjoy higher levels of employee retention. Recruiting software enables HR to monitor the progress of new hires through onboarding to ensure smooth integration into your company.
Improved employee engagement : Engaged employees mean motivated, successful employees and higher levels of employee retention. With the new emphasis on moving towards ‘engaging people’ rather than ‘managing talent’ the pressure is on HR to ensure that ‘engagement’ begins with the candidate experience.
Solution : Recruitment analytics provide HR with insight into the common skills and qualities of your most successful hires. Engagement begins with a candidate’s first encounter with your brand through your e-recruitment sources and their experience on your careers website. Recruiting software which enhances that engagement allows HR to focus on fine tuning its talent acquisition strategy.
Get ahead of your competitors : The benefits of recruitment analytics are widely acknowledged yet some employers have been slow to take advantage of recruiting software and applicant tracking systems which will boost their hiring processes.
Solution : Big data, supported by modern recruiting software, can help HR to predict the candidates who are ‘most likely to succeed’. If resources are limited don’t fight on all fronts, use your analytics to direct resources to the areas of your talent acquisition strategy that need the most attention, such as, the candidate experience, quality of applicants or employee retention.
Live analytics : The problem with data is that it is often historical. When HR analyses its hiring success it is frequently based on what happened in the previous month so your hiring process is forever playing ‘catch-up’.
Solution : Recruitment analytics provides real-time data to enhance your talent acquisition strategy and enable HR to act on what’s happening now, while more accurately predicting hiring trends and identifying the most effective online recruitment sources for passive talent.
Advorto’s world class recruiting software provides your company with the recruitment analytics you need to identify the source of your best hires and transform your hiring process. Find out how, contact us today.
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