The proliferation of HR data across software means that companies can access more recruiting data. The recruiting team can use this newfound data to grow their talent pipeline. Making decisions becomes easy if you get accurate and actionable insights into your recruitment process. Recruitment analytics plays a role.
Recruitment analytics is the data-driven decision-making done by merging recruitment with disparate sources – HR and non-HR data sources. These data sources help in identifying workforce performance. Recruitment analysis is a standard modern practice in recruiting and hiring process.
Rather than making evidence-based recruiting decisions, recruiting teams can now make experience-based decisions. Hiring teams can measure the recruiting efforts and makes changes in the strategy based on the data driven by recruitment analytics.
Recruitment analytics is of benefit to everyone in the organization. This practice gives managers insights into hiring performance and the ability to align the hiring strategies with the company’s aims and goals. This practice provides the recruiting team with the much-needed tools to monitor their talent pipeline, identify the potential risks, and proactively avoid them. Team leads can access insights that help them track progress and measure success.
How Recruitment Analytics Play a Key Role in the Hiring Process
Recruitment analytics play an essential role in the success and growth of any company. Using accurate data can help make the right decisions supported by the statistics. As a result, companies can save both time and money.
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Analytics also plays a significant role in assessing and improvising those areas that need attention. This data can work on the drawbacks and enhance the talent pipeline, giving a company an advantage over its competitors.
Data and insights help every team across the company to excel in their day-to-day work. Recruitment analytics also helps the talent acquisition teams to improve candidate sourcing, engagement, and conversions.
The key to making the most out of the recruitment analytics generated throughout the complete cycle of the recruiting strategy is to understand what metrics are the most crucial and what must a talent team do to improve and enhance the hiring.
Recruitment Analytics to Improve Talent Acquisition Strategy
Companies and organizations have different talent strategies and have other ways to acquire talent. No two companies follow the same approach. Every company uses various recruitment analytics to increase the talent pool.
The talent acquisition team, irrespective of the recruitment objectives, needs recruiting insights to help in building a data-driven talent acquisition strategy and scale their hires.
Once you have the data and a solution, you can use recruitment analytics to improve several key areas. To craft a proactive talent strategy that will see actual growth in return on investment, learn more about using ATS and recruitment analytics to improve talent acquisition strategy.
Overview of Upcoming Tasks and Applicant Updates
Know your analytics well before delving deep into your data every day to make an effective plan for the rest of the day. Recruitment analytics allows recruiters to get complete detail in the overview dashboard.
The dashboard provides an overview of the upcoming tasks and applicant updates. They get active listings, offer acceptance rates, candidates hired and moved to the next hiring stage, and other crucial data.
Recruiters can also filter these details with date, department, posting, etc., to get a deeper view of their data. The custom dashboard can be shared with the other employers to ensure they are up-to-date with the advances in the hiring process.
ATS stores the data in the overview dashboard, which you can access anytime for the analysis. Having an exact number on the offers, acceptances, hiring, etc., is the most accurate way to get the analytics right. Having precise analytics is the ultimate factor in improving your talent acquisition strategy by making a clear plan.
Use Dynamically Updated Dashboards
Recruiters who want in-depth insights into Talent Acquisition activities can also use other dashboards. Unlike the overview dashboard that gives an overview, the dynamically updated dashboards provide exhaustive dashboards to get insights on these:
- Interview scheduling and updates: The process and rate of interview scheduling, completion, numbers, time taken for the interview, feedback from the panelists, time taken by interview panelists to share feedback, and percentage of positive and negative scores.
- Nurturing campaign effectiveness: The reply rate of all the campaigns like, how many candidates receive emails, how many moves to the interviews, how many candidates reply to the email, and how many candidates are interviewed and hired, every data is stored on an ATS.
- Recruiter operations information: This includes details regarding the open postings from the day it is published to the day the offer has been made.
- Diverse pipeline: This discusses the overall talent diversity and a breakdown of the prospects by diverse groups.
The applicant tracking system stores the data on several dashboards that provide deep insights for recruitment analysis. This helps improve the talent acquisition strategy and, thus, the performance.
Evolve the Hiring Process using Past Data
The collected data and insights associated with the dashboards will help the company improve the talent acquisition only when incorporated into decision-making. Recruitment analytics gives answers to those questions that were earlier impossible to resolve.
PyjamaHR users can get tap into the analytics solution to:
- Determine the quality of hire based on the feedback from managers. This will help recruiters understand the source’s efficacy and refine it if the quality of hire data is not optimal.
- Understand the reason for regress in the interview stages and how the bottlenecks must be addressed in roles, teams, and departments.
- Evaluate the high points as they can help in refining the poor performance.
The data provided by the ATS is used in building a data-driven hiring model that gives a holistic view of all recruiting data and makes it accessible for action to every talented team member.
Implement Language Analytics
Language analytics helps recruiters avoid biased language, grammatical mistakes, passive voice, and wordiness. Organizations can maintain the same writing style across the board by using language analytics, irrespective of the writer.
Language analytics helps the writers to write more vividly and succinctly. As a result, subject-matter experts like recruiters and hiring managers can get their thoughts across more effectively.
Language analytics measures the impact of the language on conveying the message. For example, while writing the Job description, language analytics helps them choose the titles that job seekers can find. Not only this, but it also helps in writing the job requirements and roles. Inclusive language attracts job seekers to apply for the open position.
ATS solves this problem by providing templates that help in preparing clear job descriptions. Not only this, but ATS also makes sure that your JDs are grammatically error-free. Clear job descriptions allow the right talent to apply for the job role.
ATS in Recruitment Analytics
Companies and organizations have accommodated the Applicant tracking systems in their hiring and recruitment analysis. ATSs offer a lot of functionality and facilitate recruitment analytics.
The top reasons for choosing an ATS like PyajamHR in the hiring process are:
- Recordkeeping- one of the best things about using an ATS is streamlining the entire process. You no longer have to maintain long sheets to maintain the records of the applicants and their details. ATS helps maintain the applicants’ records and details in one place and a single database.
- Automated screening- ATS can easily pre-screen resumes in bulk to see if the applicant’s skills and qualifications match the job description. ATS can help the hiring teams get through the applications quickly before passing the shortlisted resumes to the hiring team.
- Well-organized dashboard- Easy and compatible dashboard of an ATS helps you view all the recent activities like scheduling interviews, giving feedback, sending automated emails to the candidates, etc.
- Integrated with other platforms- ATS is integrated with job boards and social media platforms to help in the automated posting of job advertisements.
- Team Performance: ATS can help you measure the job posted, jobs closed, candidates hired, rejected, etc. You can easily calculate team performance.
Recruitment analytics is evolving, but it still helps in reporting the job performance, source performance, job description content analysis, open positions, and assessment of the diversity in the candidate pool. And to do all this, integrating your recruitment and hiring process with the ATS is necessary.
Frequently Asked Questions(FAQ)
The talent acquisition team, irrespective of the recruitment objectives, needs recruiting insights to help in building a data-driven talent acquisition strategy and scale their hires.
Analytics also plays a significant role in assessing and improvising those areas that need attention. This data can work on the drawbacks and enhance the talent pipeline, giving a company an advantage over its competitors.
Recruitment analytics is evolving, but it still helps in reporting the job performance, source performance, job description content analysis, open positions, and assessment of the diversity in the candidate pool.
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