Four For Friday: Big Data Facts and Examples in Recruiting
Every Friday, The DDR shines a light on the best data-centric articles and resources from across the internet, social media, and industry.
Each week we talk about the importance of data and analytics in talent acquisition. Yet we still see resistance to adopting HR analytics. This week, we are sharing a few articles that not only provide helpful tips to getting started with HR data, but also some mind-boggling real-world big data facts. Some of them will certainly get you thinking. These examples and facts about big data are the topic of this week’s Four For Friday.
Market Research In The Recruitment Industry (Blogging4Jobs)
“Recruitment is a sector that can benefit from investing in survey sampling to help build insight into search habits, industry-specific preferences and employee behaviors,” says Morten Strand, Chief Executive of Cint. Morten goes on to give a few examples of ways the recruiting industry could benefit from increasing the usage of market research. These examples include:
- Understanding behaviors
- Gaining reliable insights
- Staff Retention
Learn about each of these examples in Morten’s article on Blogging4Jobs.
When it comes to HR analytics and metrics, one question seems to loom large with talent acquisition leaders: What should we be measuring? Ben Slater, head of marketing at Beamery, provides his top 7 HR metrics that should be focused on:
- Source of hire
- Time to hire
- Cost per hire
- Careers site conversion
- Application time
- Recruiter performance
- Candidate experience
Learn more about each of these important metrics, including examples, and take a couple minutes to fill out the 2015 Recruiting Metrics and Analytics Research Study.
Three ways to make the most of HR analytics (Personnel Today)
“HR has the chance to thrust itself to the forefront of the business agenda by mastering analytics,” says IBM analytics practice leader Jonathan Ferrar. At the recent IBM Smarter Workforce Summit in London, three important learning points were discussed when it comes to creating a successful HR analytics project:
- Focus on specific, achievable goals
- Go after quick wins
- Be confident with HR analytics
Read about other topics that were discussed at the summit, and also learn how to put together the best HR analytics team in this post from Personnel Today.
Big Data: 20 Mind-Boggling Facts Everyone Must Read (Bernard Marr)
“Big data is not a fad. We are just at the beginning of a revolution that will touch every business and every life on this planet,” states Bernard Marr. However, many people are ignoring big data, which Bernard believes will soon be impossible. He goes on to provide 20 eye-opening facts that should make anyone a believer in big data. Here are a few:
- More data has been created in the past two years than in the entire previous history of the human race.
- In Aug 2015, over 1 billion people used Facebook FB in a single day.
- The White House has already invested more than $200 million in big data projects.
- For a typical Fortune 1000 company, just a 10% increase in data accessibility will result in more than $65 million additional net income.
- Retailers who leverage the full power of big data could increase their operating margins by as much as 60%.
For the full list of big data facts, check out Bernard’s latest post on Forbes. It’s a great read!
Interested in recruiting analytics and the future of big data in talent acquisition? Sign up for the Data Driven Recruiter blog.