The world is changing due to the induction of new technologies. Manual jobs are taken by automation, the technologies or machines which were of great use until yesterday are being replaced by newer and better versions of it. As the whole era is changing so is the
Recruitment and Staffing Industry. Finding the right candidates was never easy. Few decades before there was lack of recruitment channels hence there was a time constraint to find good fits in short span of time.
After some years there was abundance of recruitment channels, thousands of candidates were available just a click away. But again, it had its own complexities not every person who applied for the job was a right fit. Filtering and identifying the right candidates was heck of a job for recruiters and obviously not forgetting the time consumed to find the right talent. So, the search for newer ways and technologies to overcome these challenges was always on.
ATS (applicant tracking software) has been and will continue to be highly useful to manage the candidates but it isn’t efficient enough to discover the right fit from a massive pool of applicants and it becomes even more impossible when the greatest fits don’t lie in the database.
So again, the search began and big data as a technology was discovered. It was successfully being used in different fields. So, leaders thought to incorporate big data into recruitment as well. Before we start discussing everything in detail about big data and how it’s being used to recruit top talent, we need to have a solid understanding of what big data is.
Big data is a terminology used for vast, unstructured, complex and huge data which is readily available to us and where traditional database management tools fails to manage it. This huge amount of data is analyzed to reveal patterns and insights which helps to make important decisions in various aspects. Big data analysis is used for everything from education, government, banking or financial services, to analyze someone’s productivity, or even monitoring the weather.
How Does Big Data help in Recruitment?
Big data helps recruiting companies to sort a wealth of information to see a larger and more complete picture of candidates. It evaluates a candidate’s profile by using five V’s:
Volume
- Variety
- Velocity
- Variability
- Veracity
Big data recruiting doesn’t analyze a candidate just by taking a look at the resume but it collects every bit of information available on internet about the candidate. Thus, helping a recruiter to evaluate the candidate from several angles. A candidate’s social media profile can help recruiter to screen not only on the basis of his skill set but also help analyse his personality and find weather he is a cultural fit or not.
It’s always been a challenge to find candidates with niche skills over job boards. Big data puts special emphasis on candidates who are active on social media platforms like LinkedIn, Facebook, and Twitter etc and demonstrate their expertise by sharing advice, thoughts, and interesting industry insights. It creates a 360-degree picture of a candidate both professionally and personally even before their first interview.
How big data has changed the traditional recruitment process:
- Big data recruiting is not biased as it is not based on subjective factors.
- It makes easy to screen or manager hundreds of applications in a short period of time thus reducing the cost per hire and the average time needed to fill open positions.
- It predicts the future recruitment trends.
- It also predicts about the candidate’s likely tenure with the firm and reveals whether he/ she might be a good fit for the culture of the firm.
If you wish to be a successful recruiter, then you have to learn to analyse data to provide the best possible fit for a position. Big data should be augmented with current recruiting practices and not replace it entirely.
Summary:
Big data recruiting can help you identify great candidates faster and in a more cost-efficient. However, you can’t solely rely on the information it provides, it can only guide you. Recruitment experts still need to correctly interpret the results to make better decisions.
Recruit smarter, not harder.
We as RPO leaders always thrive to implement new technologies; by leveraging such modern technology, we were able to deliver our customers more effectively.
If you have not yet leveraged the benefits of HR Data Analytics for your business, it’s time to look out for someone who does. Big data analytics in recruitment has transformed the way of recruitment process, saving you time and money as well as ensuring better hire quality
At Pragna, our vision, is to deliver good number of benefits to our Customers, when compared to traditional managed service
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