If you are a recruiter, then you are dealing with data day in and out. Finding the right talent at the right time and the right price in a tight market is time-consuming and challenging.
A study suggested that 73% of the companies are having difficulties sourcing skilled candidates. The problem is not a dearth of talented candidates, but the inability to connect with the best ones.
Recruitment Analytics can keep a tab on key KPIs and help make big and small data easier to understand and action. By using the latest data visualization techniques, you can easily detect patterns, spot trends and identify outliers, to help make decisions quickly.
Recruitment Analytics Explained
Data analysis provides you the information you need to help you hire faster and more efficiently.
Key KPIs can help you explore every aspect of your staffing business and turn data into actionable insights. This way you will be making data-driven, informed decisions. By leveraging the power of recruitment analytics, using dashboards and visualizations, you will be able to accentuate your hiring efforts and achieve efficiency with fill times, searching, screening, shortlisting- among many other things.
How can you leverage Recruitment Analytics?
Starting off is the most difficult aspect of it. You need to document the pain points of your business and identify what is most important for you to measure. You can’t put everything either, because too much of information is more clutter. Hence, it is always recommended to list down 8-10 of the most important questions for your staffing business. Here are some of them:
- What is your average time-to-fill?
- How much do you spend on placing a candidate?
- How many candidates are applying for your open positions?
- Where are the candidate applications coming from?
- Who are your most important accounts?
- Who are the best performing consultants and why?
These questions can then be converted into real-time dashboards. Good data visualizations are intended to give meaning to large and complicated datasets, so that the messaging is easy to understand and decisions are faster to make. Read more here…