Big data is one of the greatest resources available to us and its uses in recruiting are innumerable. Rather than getting overwhelmed, work out how you’re going to use this tool. Here are a few things to keep in mind about recruitment metrics.
Big data is a big deal and there’s no denying the impressive insight that metrics can offer on numerous topics. People use metrics widely in many diverse industries, bringing something different in each case to improve performance and efficiency. Metrics certainly have a huge role to play in recruiting. With such a broad range of tools available (many integrated into ATS’), there’s no excuse in excluding data insights from your decision-making process.
If the data is working for you, it can reap huge benefits in your recruiting process
The breadth of tools and data that you can pull on various topics can almost be overwhelming. Often seeking out the relevant details becomes a challenge, because it’s lost in an ocean of information. Some tools come with a significant expense, so there’s no sense in pulling reports just because you can. If the data is working for you, it can reap huge benefits in your recruiting process.
Source relevant data only
Keep your metrics relevant. Sometimes much of the information you have at hand is historical. It may be extremely detailed or informative, but ultimately reflects a time that is no longer relevant. It certainly helps from a planning perspective, but try to focus on current metrics – relevant up to the month or quarter.
Standardise your data collecting process
Standardise what you’re doing across your department. Using a general framework will help you to best utilise the current data and not data that has a negative ROI. Key metrics include acceptance rates, source quality, branding, conversion rates, new hire data and open roles. Standardisation helps to maintain consistency and ensure everyone is working towards the same goals.
Beyond the key metrics, choose carefully what you analyse and if it supports your recruiting process
Keep data sourcing simple
When setting up a framework, keep it simple. As stated already, there is no sense in gathering and analysing data, increasing the complexity of the process, if it does not have an obvious benefit. Any metrics used should clarify the time per hire, cost per hire, the performance of hires and the successes of new hires. Beyond the key metrics, choose carefully what you analyse and if it supports your recruiting process.
Using big data in your recruiting process should help reduce cost, as well as time in screening, sourcing, interviewing and hiring. A focused, standardised approach can bring greater insight into the successes of your recruiting projects and new hires. While metrics should not be the only factor in your decision making process, they do help to improve and progress your techniques for sourcing and recruitment.