What are the Benefits of Data Driven Recruitment?
Data driven recruitment is not a new sentiment, in fact, it gained traction back in 2011.[1] However, many companies still do not realise how data driven recruitment can help their company. Shockingly, 28% of recruitment decisions are still made based upon a ‘gut’ feeling. It would come as no surprise then that 74% of hiring managers say that they have hired the wrong person for a job.[2]
Data driven recruitment has many benefits…
Data driven recruitment, on the face of it, sounds like a complex and time-consuming task. This has been known to put companies off, leading them to stick to their current ‘CV based’ recruitment systems. When in fact, data driven recruitment is a very simple concept, which can have significant benefits. By collecting data, through simple data collection tasks and psychometric testing, this information can be used to streamline the recruitment process and make it much more effective.
Removing bias.
Biases can have a considerable impact on the recruitment process and often come into play when recruiters don’t have enough data, or information, available on their prospective candidates and the needs of their company. By producing tangible, useful data on candidates and comparing this with data gained from current and past employees, recruiters can make an informed decision, based upon facts. Thus, ensuring that candidates are a good fit.
Quality of hire.
CVs and unstructured interviews can only provide so much information about a candidate. Psychometric testing enables recruiters to see the behaviours and attitudes of candidates, and compare these with the company’s needs, rather than basing their hiring decisions upon easily taught, existing skills. This improves hire quality significantly.
Reduces costs of hiring.
Using data driven recruitment, first of all, ensures that hires are of a good quality and match the company’s needs. This, therefore, reduces the amount of hiring required by a company, as they initially hired the right candidate to begin with. Not only this, but data driven recruitment, particularly using psychometric testing, can significantly reduce the time taken to hire and onboard candidates, through streamlining the recruitment process.
Summary
The benefits of using data driven recruitment are easy to
see. Knowledge is power in the world of recruitment and utilising data to help
recruitment managers make the right hiring decision right off the bat saves
both time and money. Not only that, but you have a much higher chance of hiring
somebody who is the right fit for your company, thus improving productivity,
workplace attitudes and candidate experience.
[1] https://inhouserecruitment.co.uk/data-driven-decisions-tribepad-blog-piece/
[2] https://blog.recruitee.com/data-driven-recruitment/
About the Author: nikkyvb
Nikky van Bommel is the Marketing Director for Big 5 Assessments and has worked in the Psychometric Testing industry for over 10 years. Nikky is responsible for all marketing and social media for the organisation.