Long gone are the days when HR employees had to thoroughly examine each applicant and follow extremely time-consuming processes to fill a single open position in a company. Today, data is all that matters.
The power of data is visible across all industries. Utilizing data can help you a lot with your everyday tasks and activities, including the complex recruitment process. So, instead of going through each stage manually, data can equip HR experts with the necessary information to automate and streamline these tasks.
Data-driven recruitment comes with numerous other benefits. This post will take a closer look into how job ads data can transform your business.
Two types of job postings
First things first, let’s look at two different types of job postings. Namely, companies can choose between internal and external job ads.
Internal job postings
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With internal job postings, a job ad doesn’t leave an organization’s premises, so the job postings are distributed only among the existing employees. Many companies distribute internal job postings first because it allows them to mobilize someone already within their organization.
In most cases, this process allows an existing employee to take a new role or switch departments.
With internal job postings, companies can save plenty of time, money, and resources trying to find someone for a position, as they can leverage in-house talent.
External job postings
Contrary to internal job postings, external job postings are available for the public to see and hopefully apply for a position. That way, candidates outside of a particular organization can become a part of the company.
When posting external job ads, companies generally rely on job posting data. The data allows them to define the perfect candidate profile and use the information to search for an applicant that fits the profile as closely as possible.
The information included in a job posting
It’s vital to include all the essential information in a job ad if you want your company to experience a successful job posting.
While internal job postings are generally less detailed since employees are more or less already informed about the open job position, that’s not the case with external job postings.
Some fundamental elements you should include in your job postings are:
- Basic information about the company;
- Summary of the job position and specific expectations;
- Work experience requirements;
- Minimum or specialized education requirements;
- Mental and physical requirements;
- Necessary documentation;
- Method of applying for the job.
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Top 8 benefits of data-driven recruitment
Job ads data can equip you with some outstanding benefits you can rely on during the recruitment and onboarding processes. Let’s check out the eight most critical in greater detail.
1. Improving candidate quality
Every organization wants to find the best candidates for an open position. However, finding and reaching out to these candidates is more complicated than it seems.
That’s why companies need to use job ads data to understand how many candidates other organizations currently interview and how many make it through the interview stage.
With the data containing this information, you can determine how streamlined your hiring processes are and maybe even optimize them to receive better results.
2. Improving the candidate experience
As already mentioned above, the primary goal of every company is to hire the best candidates for the job. However, that doesn’t mean candidate experience has to suffer. Instead, we recommend combining the two and improving the candidate experience.
After all, the candidate experience is often why some top applicants withdraw their applications and give up on the whole process.
As a company looking for quality employees, you want to avoid that. That’s because companies are looking for top talent, but the applicants are also looking for companies matching their needs. They want to join one with the best company culture and conditions that allow them to grow and develop within that organization.
Luckily, job ads data can help you locate inconsistencies and inefficiencies in your recruitment process and help you find alternative solutions that make the process more effective for you and your applicants. Fewer will turn to your competitors if you provide them with a fantastic experience.
3. Forecasting hiring outcomes
Knowing what to expect and how to prepare for future outcomes can completely transform how companies do business. Having access to such information is priceless, as it can give organizations a unique advantage over their main competitors.
For example, forecasting recruitment results can inform HR employees about the necessary number of applicants to make a hire or the approximate amount of time to find a candidate.
With that information, companies can compare their current situation and determine whether they need to make further improvements or not. Ultimately, that helps companies plan and prepare for potential problems they wouldn’t know of otherwise.
4. Streamlining processes and organizing the HR sector
Working in recruitment is stressful, regardless of your business’s industry. Even if your company has an entire HR sector developed, there’s always room for improvement in streamlining your processes.
Whether you want to decrease the amount of paperwork, make the processes less time-consuming, or find a solution that will keep all your data in one spot, job ads data can help keep your company organized.
Besides the quick results and efficient processes, good organization will also keep the employees working in the HR sector motivated, productive, and satisfied with their careers. They won’t waste precious time on mundane and repetitive tasks but focus on what matters and contribute to your company’s growth.
5. Decreasing time to hire
You can fill some job vacancies in days, but you might need months or even years to find the right experts for other positions.
That is especially true for some academic positions, which are challenging to fill as there aren’t many out-of-job individuals with the necessary education, knowledge, or skill sets.
Every job vacancy costs a company a lot of money. Therefore, all organizations aim to fill their job openings as soon as possible. How can a company decrease its time to hire?
With job ads data, employees responsible for the onboarding process can analyze the existing tasks and detect bottlenecks or potential opportunities that can speed up the process. While that isn’t an overnight change, it undoubtedly helps companies in the long run.
6. Decreasing cost per hire
Closely connected to the previous point, running a company with a vacant position isn’t profitable. That means the company is working with one less person every day, which plays a significant role in the overall productivity and efficiency of the organization.
However, recruiting isn’t cheap either. It involves plenty of costly processes, such as:
- Paying for the job opening ad;
- Paying employees who will go through the applications and maybe even interview candidates;
- Training new employees;
- Providing new team members with the necessary equipment, tools, skills, and knowledge.
A data-driven recruitment approach can help you simplify these processes and find ways to reach the same outcome while spending less money and fewer resources.
7. Allocating budget and other resources
Job ads data does an excellent job of determining how successful budget and resource allocation are. HR employees can discover which platforms bring in the most leads or qualified candidates by collecting data from different recruiting channels.
After they determine that, budget and resource allocation come pretty easy. You’ll know which channels are the most valuable and which platforms don’t perform well enough. As a result, you can prioritize profitable channels by investing more money and resources to see even better results.
8. Removing bias from the hiring process
Manual hiring processes are highly biased, whether your HR experts are doing that consciously or subconsciously. A human can’t make a completely unbiased decision, so you should consider making your recruitment decisions by evaluating data.
Even though data doesn’t eliminate bias from the hiring process entirely, it certainly helps you focus on facts and figures instead of on opinions and intuition.
That is especially true with diversity and inclusion in the workplace.
If your employees haven’t been using a data-driven recruitment approach, you can probably detect some gender, race, or other preferences your employees may focus on unconsciously.
Thanks to data, you can introduce more diversity into your company by reducing bias as one of the decision-making elements. You can create a diverse and inclusive workplace that attracts more applicants and helps you retain top talent.
Final thoughts
All in all, using a data-driven recruitment method isn’t complex at all. Its primary purpose is to help HR workers and give them a lending hand in the onboarding process, so using it should be pretty simple and fast.
After introducing a data-driven recruitment approach, the results you will receive will be fantastic. You can improve candidate quality and experience, forecast hiring outcomes, streamline processes to help organize the HR sector, decrease time and cost per hire, allocate budget and resources, remove bias, and more.
So, implement a data-driven recruitment approach today and experience many benefits in the months to come.