In this era of big data, companies are just beginning to understand how to leverage the complex and copious amount of information that they have at their fingertips and vendors are just beginning to understand what specific analytics tools to make available. While using analytics to make informed decisions affecting labor and using analytics to predict turnover patterns has become somewhat mainstream, recruiting has been all but left out. Until now, that is.
Fit Index to Rate Candidates
Some HRIS vendors have made software available that profiles candidates’ resumes and other indicators against an ideal candidate profile, churning out a fit index. This fit index can help employers to look beyond traditional qualifications and hire someone that will really be a good fit on every level. The fit index measures many different characteristics and assesses how well an employee’s persona will fit with the company culture, expected behaviors, and expected knowledge.
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Analytics in Social Recruiting
LinkedIn purchased analytics software that connects resumes to job openings on a broad spectrum. Working with this type of social recruiting mixed with predictive analytics can help companies to recruit from a large candidate pool, which may be extremely instrumental in finding exactly the right candidate for a specific position. Partnering with this type of operation and streamlining the system to connect to an internal recruiting feature in the HRIS may help to optimize recruiting beyond anything previously available.
Reducing Turnover with Smart Recruiting
When a candidate is matched to a position using analytics tools like the fit index, it can help to ensure greater job satisfaction. This can in turn reduce turnover and benefit the company in many ways. When employees truly love their job and fit well with the demands and culture right from the start, the company can become more productive and can grow quickly.
Personalizing Training Based on Recruiting Analytics
By using recruiting analytics, companies gain a wealth of data about each employee that they hire. Based on the employee’s qualifications, knowledge, and skills gaps the company can create personalized training programs that will get each employee up to speed faster and better. Companies can begin to move away from the “one size fits all” approach to training, which may save time as employees can skip over areas in which they are already proficient.
Analytics Pave the Way for Future improvements
Fit indexes and other analytics tools used in recruitment must be based on educated guesswork at the start. While the tools are likely to be more selective than recruitment systems used in the past, there may still be opportunities for optimization that do not become apparent until after a few employees have been hired using the tools. As employers see how employees pan out and assess different patterns, future improvements can be made to make the ideal candidate profile just a little more ideal.
Bringing predictive analytics into recruiting is a smart decision that many companies across all industries have begun to make. When doing so, however, it is important that the tools be used sparingly, as drowning in meaningless data and unnecessary reports will not help to improve processes. A strategy should be formed and utilized, with alterations being made only after initial results have been assessed.