Source | www.hcmi.co
Thanks to the proliferation of HR data across HRIS systems such as applicant tracking systems, companies have access to more recruiting data than ever before. This creates both challenges and opportunities for recruiting teams to use these newfound data sources to grow and nurture their talent pipeline. This is where recruitment analytics can help.
Recruitment analytics allows companies to connect data from disparate sources and link recruiting strategies to business objectives. Before, most recruiting teams were flying blind trying to put butts in seats as quickly and cheaply as possible, disregarding the impact of recruitment activities on business results. More advanced teams can incorporate some analytics into their decision-making process, but it often stops at tracking and benchmarking key recruiting metrics for recruiting efficiency, not talent effectiveness such as quality of hire.
We put together this guide to help companies adopt a more data-driven recruitment management process. It will explain in-depth what recruitment analytics is about, the potential impact, as well as the kind of recruiting questions it can help answer. We’ll also provide real-life examples as well as best practice tips to help you grab the concepts quicker.
What Is Recruitment Analytics?
Recruitment analytics refers to the practice of data-driven decision making by merging recruiting with other HR and non-HR data sources to identify drivers of workforce performance. Recruitment analytics is a subcategory of workforce analytics and a standard modern practice in advanced recruiting and hiring management.
Recruitment analytics can benefit all the stakeholders in the organization. For executives, this practice gives them an unprecedented level of insight into hiring performance and the ability to align recruitment strategies with overall business goals. For recruiting teams, this practice gives them much-needed tools to monitor the health of their talent pipeline, identify potential recruitment risks, and proactively avoid or alleviate them. For line managers, they can get quick access to insights that they can easily act upon and dashboards to track their progress and measure success.