Don't let outdated recruitment practices hold your business back. Take control of your hiring process today and begin leveraging the power of data to make better decisions and build high-performing teams. Optimise your candidate journey to reap the benefits of increased efficiency, better decision-making, and better overall results. In the fast-paced world of recruitment, staying ahead of the curve is essential.
Data analytics has disrupted the recruitment market, revolutionising the talent acquisition process. To stay ahead of the competition and continue to attract the right candidates rather than allowing them to join their competitors, organisations and their chosen recruitment partners will need to keep up with current developments in data analytics
Furthermore, the value of data in hiring is projected to increase, and with the total cost of a bad hire exceeding the salary of the position by multiples, employers must make use of data to keep mistakes to a minimum. In this article, inploi will unpack its SaaS services that can assist companies leverage data to revolutionise the hiring process.
Organisations that collect and analyse data on workforce diversity gain a better understanding of candidates and their employees' lived experiences. They can use this data to identify and address any existing biases, gaps, or issues. A recent survey found that 86% of job seekers favour companies that actively invest in Diversity and Inclusion initiatives.
Given that word-of-mouth or network recruitment is likely to be biased towards the types of people already in an organisation, data's broad reach can enable businesses to look further afield and unearth new talented candidates. Data can also aid brands in determining whether their hiring processes are unintentionally biased and ensure that they are objective and fair to people of all backgrounds and genders.
A well-designed hiring process enables business leaders to seize strategic opportunities within their organisations. Brands, however, are unable to effectively manage challenges and support their decision-making without timely and reliable data. Data-driven decision-making eliminates guesswork, increasing talent attraction and recruitment efficiency.
It's possible that spending on social media platforms like Instagram or TikTok is capturing the audience that an employer requires, or that a company would be better off looking at traditional job boards like Indeed. By providing actionable insights into which channels are effective, data analysis enables businesses to make informed, data-driven decisions.
Data is worthless unless it is easily accessible to those who require it and can be transformed into valuable insights to aid in informed business decisions. According to a recent survey, 69% of respondents believe that greater data sharing and collaboration would improve their company's performance. Data silos prevent businesses from seeing the big picture, resulting in poor decision-making. Findings must be shared with all decision-makers so that they can make the necessary investments, strategic development, and infrastructure to improve their hiring process.
The vision, principles, and roadmap for successful data management and analytics are facilitated by data strategies. It enables businesses to comprehend the technology and processes required to ensure that their data is always available, shareable, and of high quality. inploi’s Analyse module features bespoke dashboards that ensure that the most relevant data is prioritised — providing data visualisation to help brands make sense of the metrics that are driving their hiring.
A great candidate experience is critical to attracting and converting the most sought-after employees, as those with the most opportunities are easily turned off by processes that are slow or overly complicated. Employers can use data to identify which stages of their recruiting funnel are causing drop-offs. This allows them to redesign their strategy to mitigate these risks.
Data analytics gives brands visibility and insight into candidate journeys, enabling them to re-engage lapsed audiences and build stronger market profiles to ensure that they are targeting the right candidates. Employers can use inploi's Analyse to understand the numbers behind their hiring, as it provides companies like Butlin's and Wagamama with actionable data insights and aggregated analytics to improve their recruitment ROI.
Are you looking for ways to improve your business operations and streamline your hiring process? Look no further than Analyse to learn more about how it can revolutionise your business. Or visit inploi's resource hub to stay up to date on the latest recruitment strategies and tips. With weekly articles and insights, you'll gain valuable knowledge on how to improve your recruitment practices and take your business to the next level.