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23rd & 24th Sept 2020

3 Ways to Embrace Data-Driven Decision Making

Promoted by 3 Ways to Embrace Data-Driven Decision Making

When making those all-important HR and recruitment decisions, you might be used to just following your own natural instinct. However, the increased use of data and metrics is a hot topic in the world of HR – so, should you consider transitioning to a data-driven approach?

Gut instinct is something that most small business owners swear by – it’s usually ‘the feeling’ that’s led entrepreneurs to great success which is why it can be difficult to adapt to making decisions based on data.

But what exactly can data tell you that your natural instinct can’t? And just how do you gain access to this information?

Whilst your gut feeling is never something to be ignored, it’s always helpful to have real, tangible data to back up your thinking. It’s also important to have this information to hand when presenting your ideas to other members of your team and trying to obtain buy-in for a new idea or process.

Recruitment and HR software, such as an applicant tracking system (for example, Webrecruit’s Fusion), can readily provide you with all the data you need to make solid, well-informed decisions.

Specifically, recruitment data enables you to:

Develop an understanding of your candidates’ behaviour

An applicant tracking system (ATS) allows you to view your applications by source (this could be your job boards, LinkedIn, careers site etc.) and by device (mobile or desktop). This gives you real insight into how candidates are applying for your vacancies and can help you to make crucial choices regarding your recruitment advertising platforms and mobile recruitment strategy.

You’re also able to view any trends in particular days of the week that candidates tend to apply, enabling you to base your recruitment activities around this information. For example, if you notice a peak in applications on a Tuesday, make sure that your job advert is live by end-of-play Monday.

Without an ATS, you would be required to source this information manually, meaning that you’d need to ask candidates how they applied and on which day, and log this on a spreadsheet for analysis.

Calculate your time to hire with ease

Are you finding it hard to measure the efficiency and progress of your HR and recruitment activities?

Monitoring your time to hire is a great way of keeping track of your progress when streamlining your hiring process.

You can calculate your time to hire for a particular vacancy by noting the time between the date that you advertised the role and the date that the offer is accepted by a candidate (or alternatively, the date that the successful candidate started working for your business).

Once you’ve calculated this figure, you can use it as a benchmark for your other roles. Aiming to reduce this time will not only free up your HR Team to tackle their workload, it will also save you money in terms of re-advertising the vacancy.

Knowing your time to hire is important – it allows you to see how your recruitment activities are progressing and will enable you to spot any inefficiencies.

This is information that you can’t just guess. Recruitment software, such as an ATS, will log the dates that candidates applied for your roles, allowing you to calculate your time to hire with ease.

Easily manage your agencies and advertising sources

Which agencies are performing for you? What jobs boards are sending you the most relevant candidates?

Your data can tell you this. Some applicant tracking systems contain an Agency Portal, allowing you to control and view which recruitment agencies are handling which vacancies. This way, you can see which agencies are working for you and which ones aren’t.

It’s the same principle with job boards; an ATS can show you where your candidates have come from, enabling you to see which advertising platforms are producing the best results.

Auditing your recruitment advertising strategy is important as you could be wasting unnecessary money on under-performing agencies or job boards.

Without this data, you can certainly guess what your successful advertising platforms are, however by having the correct information in front of you, you’re able to make real decisions based on facts that could save your business money in the long-term.

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Whilst we never recommend ignoring your gut instinct, having access to real, tangible data is a great thing – and an ideal way of re-affirming your HR and recruitment decisions.

Interested in learning more?

Here are some of Webrecruit’s top resources:

5 Great Ways of Using Recruitment Data

A 2 Minute Guide to Applicant Tracking Systems

5 Ways That Reporting Can Transform Your Hiring Process

3 Signs That You Are Ready For An ATS

4 Recruitment Reports Every SME Needs To Know

 

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