With automated HR solutions coming into the picture, recruitment analytics solution is gaining their importance as a crucial element for a successful HR function. But, Why?
Recruitment analytic solution help businesses transform their business framework into a quantitative and qualitative one. Recruitment analytics as well know is referred to a systematic design of tracking, measuring, correlating and collating candidate plus employer’s data to improve organizational performances. It also enables users to identify unique opportunities in existing framework and optimize their talent acquisition policies for organizational growth.
In this article, we will discuss Why an error-free, well-designed recruitment analytics solution is important for business growth?
Reason No. 1
Identification of High-Risk Assets Was Never Easy Before
Data has become a powerful asset of every human resource professional these days. An analytic solution allows recruiters to figure out the RED AREAS (high-risk areas) that make top performers leave or restrict an engaged workforce join your team apart from highlighting all the GREEN AREAS.
Reason No. 2
Trailing Best Talent Internally & Externally
With the help of an analytical solution, tracking and measuring internal talent pool is no longer a tiring task. All that an employer needs is to track overall employee performances individually or department wise. Recruitment analytics also enables employers to proofread best performing external sourcing channels including social channels, job boards, corporate conferences, business boards, referrals etc.
Reason No. 3
Framing an Employee Engagement Policy That Actually Works
Employee Engagement refers to creating an organized system for motivating successful personnel and refining employee retention ratio within the firm by encouraging every employee unconditionally. Every recruiter is aware of the fact that employee engagement begins right from the first day of a new hire. Analytics allows you to frame an engagement policy based on the talent/skill of an employee along with dividing the employees into categories as per their performance level.
Reason No. 4
Reduced Time-to-Hire and Cost-Per-Hire
Time and Cost still remain one of the most critical factors within recruitment metrics. When time-to-hire increases, cost-per-hire also increases and hence, the overall recruitment budget. Cost can be reduced by retaining top performers in the firm not only by offering benefits but also encouraging them. Recruiting cost can also be reduced by establishing internal talent pool to be handpicked by recruiters when required. Recruitment analytics helps to analyze top talents and allow you to track plus sustain your top performers.
Reason No. 5
Last But Not the Least ‘ANALYTICS’
The recruitment industry has evolved and the process has become more strategic. Today, Recruitment industry is largely affected by market and candidate behavior data. Recruitment analytics allows you to streamlines these real-time data, process it and develop an insight into changing organizational/workforce requirements. These datasets can also be used to identify ongoing hiring trend along with enhancing talent acquisition modules.
Having an automated, computerized recruitment process in place not only reduces human errors but also facilitates efficient manual operations by cutting down functional time and cost.
Hope you enjoyed reading this article. Do not forget to share your opinion over ‘implementing an automatic analytical solution within a firm’.