Assessing data in real time provides a competitive advantage to sourcing and recruiting candidates.
By Taylor Thompson
Thanks to advances in technology, the HR industry has become very data driven in its practices. And while it’s imperative to essentially every aspect of business, the main problem with data is that it’s often historical.
“Recruitment analytics are often built around historical data pulled from exit interviews or materials compiled only once an employee has left your organization,” says Lumesse’s Head of Solution Consulting Nick Hutchinson. “At that point, your recruitment efforts may have changed several times.”
That’s where live analytics come into play.
“Live analytics really allow you to see what’s working in your recruiting campaigns, large or small, and what isn’t,” Hutchinson says. “You can see in real time where your sourcing channels are most effective versus where it isn’t.”
Live analytics are also useful when it comes to recruitment marketing techniques.
“If you were running a pay-per-click advertising campaign, not only would live analytics help drive the initiative, but you’d then be able to retarget your demographics and audiences if it’s not been successful,” says Hutchinson. “Live analytics can help to refine and define a campaign from a global perspective, which is really important from an enterprise recruitment standpoint.”
For enterprise recruitment users specifically, these acquisition methods are being dispersed across thousands of global applicants at a time. These organizations also benefit from having up-to-date analytics available in one consolidated form. Live analytics help companies see cost per hire in each of their affiliated countries, which location and channel job applications are doing best, and if their recruitment efforts are having a positive impact on candidates worldwide.
There’s also an opportunity to globally analyze diversity, which is important to organizations today considering ClearCompany reports that 57 percent of employees think their companies should be more diverse.
Ultimately, the opportunity to check in on your recruitment efforts in real-time and assess the success of your talent acquisition efforts through live analytics is going to change the future of enterprise recruitment for good.