23 Nov The results are in on recruitment’s use of big data
Despite an increasing trend, the use of big data in recruitment is still in its infancy, with less than a quarter of organisations adopting it into their processes. Over the last twelve months, Future People compiled an in-depth analysis of the current trends of the recruitment sector, focusing largely on where technology is taking us. One of the insights from the report showed that 86% of companies still relied heavily on traditional recruitment processes such as behavioural interviews, overlooking the introduction of big data technologies. Innovation in recruitment is at a startling low, with roughly half of recruitment strategies remaining unchanged over the year despite advances in technology.
This begs the question – what spurred 14% of the industry to make a big change?
Big data in recruitment brings with it a host of unique advantages that can transform the way your business finds the right people. LinkedIn, Amazon and Airbnb are just a few big companies that have accepted this concept, going as far as building predictive hiring frameworks to utilise data intelligence
Determining which sourcing channels work best
The job market is increasingly candidate-driven and with the innumerous channels available to find candidates, it can often be overwhelming and time consuming. With big data, you can observe success rates in real-time and adapt as needed, allowing you to choose optimal means with less effort.
Multiple data points for decision making
We measure the performance of our employees by more than their resumes and the same should go for potential talent. Big data has the power to let you measure a candidate’s fit across a range of data points, drawing on sources beyond just keyword searches in a resume.
Big data is always going to be able to process large volumes of information faster than a human. This means that the process of sifting through the information is sped up and allows recruiters and managers to see the most relevant information and use their talents getting fit with culture right.
Stop playing catch up
Most companies start recruitment when a position opens up, rushing to fill the space and handle a transition that has ripple on effects for the workforce for a long time after. However, with big data’s predictive capabilities, companies can have a better sense way ahead of time of recruitment needs that might arise.
More than just IQ
Big data not only analyses a potential candidate’s suitable experience but analyses their personal characteristics as well. At FuturePeople, we believe in the power and importance of emotional intelligence and subsequent impact this has on a candidate’s cohesion with a team. Big data can help you assess a potential candidate’s fit within a company and team, not just a job role.
With all this and more to be gained from embracing big data, companies would benefit greatly from updating their recruitment processes with the new technologies available.
When will you step into the future?