Leveraging Big Data to Find and Secure the Right Talent
Understanding how big data, automation, and artificial intelligence can help source and keep talent
By Leila Kojouri
Unemployment in the United States is at a record low. Baby boomers are nearing retirement from their professions; while younger generations have a world of options in front of them. Our current economy gives job seekers the upper hand, where they can leverage online resources to comb through a sea of opportunity.
As a result, companies are struggling to find and hire top talent from the job market. With that said, the talent-hunting market has become increasingly dynamic. According to research, a number of job candidates use online resources exclusively to look for suitable positions.
Through online platforms, potential recruits are offered a window into a company’s values to gain perspective on the culture, salary ranges, career advancement opportunities, and work-life balance. Similarly, the quality of an organization’s management has become a deciding factor in whether or not employees will continue to stay at their current place of work.
Using Employer Data to Understand Valuable Workforce Trends
Employers are already in possession of a wealth of data. And, when leveraged correctly, this powerful possession can be a great tool in luring, hiring, and most importantly – retaining – the best candidates.
Companies and recruiters can take advantage of the trends and patterns within their own historical data to achieve precision in the course of hiring — they simply need to source through better-fitting candidates to hire and retain.
For example, a high turn-over rate can be assessed by examining trends in the data associated with the employees who chose to leave their positions. By understanding why these candidates are coming and going so frequently, it is possible to develop and implement a comprehensive solution.
What’s more, reducing a high turn-over rate is beneficial to an employers reputation, which, these days, is paramount in securing young, fresh talent. A little good reputation goes a long way. During the course of recruitment, the ability to present a stable, yet dynamic workforce is enticing and alluring, and a surefire way to help turn candidates into recruits.
Employers Should Source for the Best Talents from the Onset
In today’s hiring niche, transparency is becoming highly prioritized. It is important to determine whether the qualified candidates are interested in the company — and if they are truly eligible for the position in question; along with ensuring they won’t turn elsewhere too soon.
On the other hand, job candidates want to determine whether or not the position in question matches their career path as well as skill sets, including the culture practiced in the workplace as well as their management policies.
By engaging data, recruiters can shift gears towards the era of transparency, sourcing eligible applicants who are best suited for the positions at hand. In addition to engaging data, automation will also help employers to achieve this feat faster and better than before.
Engaging Automation and Data in Recruiting
Before now, employers do not have a solid guide, or handbook gauging whether or not a prospective employee has a higher or lower flight risk — they only engage their intuition.
Thankfully, employers can now engage tools featuring artificial intelligence as well as in-depth analytic capabilities to parse data on their current workers — to truly determine their skills, previous work experiences and the most recent achievements.
Recruiters should engage these tools and even social recruiting methods to hunt for and hire the best talents. After they get in the door, it’s even more important to find ways to keep and retain this talent for as long as possible.