The recruitment process isn’t just about filling vacant positions in your company. Instead, this activity is about finding the best candidates for the available jobs so you can acquire top talent. Once you build a highly skilled workforce, you’ll generate better ideas to stay ahead of the competition and gain a higher market share. However, hiring can be time-consuming and expensive, especially if you still follow traditional methods to acquire applicants. This process may take weeks to complete hiring decisions so projects can be more inefficient due to a lack of employees. As a result, you might not be able to find the right talent that might help you keep up with your competitors. However, the best way to hire staff is with data-based recruitment.
Fortunately, when you use data in the process, you might be able to gain these five benefits, which include:
Hiring bias can be a massive problem in the recruitment process. If your human resources (HR) team is biased toward hiring people of a certain race or gender, you might not be able to identify the best candidate for the job. Aside from that, you might increase discrimination in your workforce, which might affect your employer's brand image.
From the initial vacancy posting to the interview and, finally, the hiring decision, every aspect of your recruitment process should be as objective as possible. One way to ensure this is by using data from organizations like Horsefly Analytics to help you prevent hiring bias in your recruitment process. For example, you can use these insights to ensure that applicants from various groups won’t experience discrimination by filtering information.
Having many vacant jobs in your company can be expensive. To keep the gap between positions, you may give higher wages to employees already working for you. In addition, if there’s an ample number of vacancies, it can lead to a decrease in productivity and the quality of work.
Data analytics can help you understand where your company is lacking in hiring suitable candidates for open positions. Also, these insights can help you identify the reasons that prevent your employees from staying with your organization. Similarly, you can determine why they might leave independently despite having signed an employment contract.
Poor performers may drag down the performance of their colleagues while demoralizing customers in your workplace. Besides that, this type of employee is likely to produce low productivity levels and is prone to frequent absenteeism. If you have a team of poor performers, you might have high turnover rates, which can affect company performance.
If your company leverages data analytics, you can clearly see what in-demand company talent wants in an employer. Additionally, you can understand who’s applying for jobs to tailor your recruitment efforts accordingly. You can identify which job openings are most popular among candidates with specific skill sets to focus on those areas as you hire new employees.
The candidate experience affects the willingness of your candidates to accept offers and stay in their roles in the long run. When applicants have poor experience during the hiring process, they’ll miss out on valuable and less diverse talent. As a result, these candidates will likely serve your competitors with their expertise, affecting your market share.
With data analytics, you can boost the experience of your job candidates by receiving insights into their previous jobs and skillsets. This information helps you curate informed interviews to ease the tasks of your HR staff in recruiting professionals who are the right fit for your company. Aside from that, you can use data to screen out people who don’t meet specific criteria before you even talk to them.
The most immediate consequence of high employee turnover rates is lost productivity. Employees that leave their jobs abruptly and unexpectedly, often leave behind unfinished work. This then requires new hires to complete it on a tight deadline. If this incident happens too frequently, it can lead to severe backlogs and bottlenecks in your organization’s workflow.
When you leverage data analytics, you can understand what makes your employees happy in the workplace. Similarly, you can study factors that may be holding them back from actively engaging with their tasks and colleagues. As a result, you can provide them with opportunities to motivate them to be more productive. Additionally, encourage them to interact with their peers, and aim to retain them.
In the competitive world of eCommerce, you need to stay ahead of your competitors to generate a higher market share. Hence, you must invest in data-based recruitment to help you gain a competitive edge by providing these five benefits.
