Using a Data-Driven Recruitment Strategy

Being pro-active as a recruiter can mean different things at different stages. Ideally, an efficient recruiter will find a balance between quality of hire and speed of hiring. However, in times of fast growth in a company, some human resource personnel within certain organizations might find themselves  prioritizing speed instead of quality. Unfortunately, this may often result in improper hires, thus increasing an organization’s turnover, cost-per-hire, and retraining expenses.

Luckily, implementing data-driven recruitment strategies, especially through a dedicated and knowledgeable recruitment agency, can help you stay ahead of the competition.

Sorting through the vast sea of data

One of the most useful metrics is data. It’s everywhere around us, just waiting to be gathered, sorted out, and analyzed. There’s so much to learn from data, we just need to know how to use it. For instance, which KPIs are most important to the job role and your recruiting process? Which recruiting metrics need improvement? Some common examples you might want to track are:

●       Time-to-fill (time-to-hire)

●       Cost-per-hire

●       Retention rates

●       Applications-per-channel

●       Job offers (acceptance rates)

Once you start measuring these KPIs, you’ll have a benchmark upon which your organization can improve. For HR personnel, data measurement is a good indicator to make decisions  based on facts. Based on the results of the above KPIs, HR could come to realize that it’s time to make use of a recruitment agency or to add another recruitment agency to the mix. Although these numbers might look different in every industry, key HR personnel and management should take care to regularly review their organization’s hiring performance and execute an action plan that keeps them ahead of the market.

Your ideal hire:  Finding the right candidate for your vacancy

What does a quality hire look like? How to increase quality hires and boost retention rates? Finding the best fit for a job is the actual art of recruitment. At times, an applicant may check all the job requirements on paper, but they just won’t be able to fit in properly for other reasons which the recruiter is in a better position to find out about.

Which are the must-haves vs. the nice-to-haves?

For instance, if you’re hiring customer support agents, you might want to test for communication efficiency, soft skills, language pronunciation as well as their flexibility to meet different working hours. These  are important attributes that one needs to evaluate determining  for job suitability aside from the technical qualifications and know-how.

A/B test your outreach efforts

The next area where recruiters can gather precious data and significantly improve their efforts is their outreach - implementing different strategies and measuring what works and what doesn’t. One of the best ways to do that is to A/B test or split test different parts of your outreach strategies. Always do these tests by changing only one thing at a time, so that you can figure out what makes the difference.

Do a competitor analysis and examine their hiring process

As an employer, your biggest competitors in the industry might also be targeting the same potential candidates. So, understanding your competition’s hiring strategy and approach will tell you a lot about the industry standard and your own strengths and weaknesses in comparison.

When evaluating your competition, there are several indicators that are crucial to understand when analyzing industry practices :

●       What’s their unique value proposition as an employer?

●       What’s the salary they offer? Are they transparent in terms of earnings?

●       How easy and user-friendly is their recruitment process?

●       What are the additional benefits they offer (PTO, bonuses, equity, gym memberships, etc.)?

●       What is their company culture like and what are their core values?

Conclusion

Start asking the right questions, even to recruitment agencies, as they are most likely to have this data at their fingertips. By taking into consideration the above-mentioned tips, you should have a solid foundation to making data-driven decisions in your recruitment process.

The more data you gather to support your hiring strategy, the more results you should see in growing and retaining your employees.  As a recruitment agency, Get Recruited Worldwide can help you implement your data-driven recruitment process and improve your ROI, both in the form of time and resources invested in the acquiring and retaining your talented employees. Reach out to us for a consultation through our Contact Form.