Why Recruiting Is No Exception in Today’s Data-Driven Era
Thanks to data and analytics, today’s professionals have more knowledge and power at their fingertips than ever before. Forbes contributor Louis Columbus recently put this into perspective by highlighting IDG Enterprise’s 2015 Big Data and Analytics survey—stating in the past year alone the amount of organizations with deployed data-driven projects has increased by 125%.
From marketing to IT to engineering and many other areas, this trend has been transforming the way professionals carry out their functions for the past several years. And that transformation has started making its way into the talent acquisition arena. In fact—by now—some recruiting organizations already have mature analytics deployments.
In this post, we’ll inspect IDG’s survey findings, and discuss what increased data and analytics budgets and investments mean for talent acquisition professionals.
The Rise of the Data-Driven Enterprise
The power of analytics is certainly turning heads. IDG’s survey says more than half of companies plan to either start or continue investing in data analytics, as they expect to gain the most business value from those types of solutions.
According to the survey, however, the idea behind where that business value will come from varies depending on with whom you speak. 61% of respondents said improving the quality of decisions were their top objectives and goals behind their data-driven initiatives. Close behind, 57% cited improving planning and forecasting and 51% said increasing speed of decision making.
While the motives driving investments in analytics may differ, nearly all of them are closely aligned with empowering professionals to make quicker and better decisions. For reference, here is a slideshow with the rest of the findings from the study.
The Coming Era of the Data-Driven Recruiter
Data has been dictating the way business decisions have been made for decades. But the charts above indicate that the analytical tools available for facilitating the use of data have evolved considerably in a very short period of time, and an increasing number of enterprises are starting to take notice. So what does the adoption of these tools mean for talent acquisition professionals?
We see recruiting analytics with Applicant Tracking System (ATS) integration enabling professionals to have more power over the hiring funnel than at any other point in history. But it’s not simply having visibility into where candidates are in the funnel, it’s about connecting a wide range of information sources and optimizing both the candidate experience and hiring funnel flow performance—so the best people get in the door in the most efficient and cost-effective way possible.
This will mean selecting a recruiting analytics tool with data visualization, drill-down, and reporting capabilities—and ideally a consumer-grade interface that’s intuitive enough to use with minimal training.
There seems to be a diversity of sentiments from talent acquisition leaders on this topic. A majority of them are excited about the prospect of empowering their teams with the tools needed to make better and quicker decisions, while simultaneously shifting resources toward being more proactive and predictive in the decisions they make. But there is also a number of skeptics.
To the skeptics, it’s important to again point out the emergence of analytics solutions in other functions that are leveraged by varying roles—not just people with a background in data analysis—but also that the technology behind analytics is becoming increasingly consumerized. For instance, Fitbit allows consumers to easily visualize and analyze personal health data, while other tech like Nest enables consumers do analyses on their home energy use.
With simple, intuitive data analytics tools are making their way into the consumer world, it won’t be long before we start seeing even more widespread adoption in all operational areas of business. Recruiting organizations not thinking about how they can take advantage of these solutions are setting their people up to attempt doing much more with less in the very near future.
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