Every day, thousands of candidates apply for employment. With the massive number of candidates, organizations have to work harder than ever to find the right people for the position. Luckily, data-driven recruiting is enabling hiring teams to quickly and efficiently select the right candidates for employment openings.
So, what is data-driven recruiting?
It’s when facts and statistics are used to inform hiring decisions, as opposed to relying on intuition, or a gut feeling, to determine if someone is a fit for the organization.
Data-driven recruiting can have a significant, positive impact on hiring. But, it can only truly work its magic if the correct data is measured.
Data-driven recruiting, when done correctly, measures:
- Cost per hire
- Time to fill
- Quality of hire
- Job performance
Measuring the data mentioned above is an excellent start to improving your hiring process with data-driven recruitment.
Why is it only the start?
Data on its own is neither good nor bad. When we look at data in its relationship to other information, it takes on meaning. To understand the meaning of a measurement, you need to collect large amounts of similar data points and investigate the dataset using AI.
By combining data from sources across the hiring process and beyond, we can create massive datasets of linked and related measurements. We can discover powerful relationships in the data by applying advanced machine learning and deep learning.
Collecting and comparing data enables organizations to make reliable, predictive decisions about people that impact organizational performance. In short, the mission is to make data meaningful.
The Modern Hire platform is designed to provide such insight.
With Modern Hire you can:
- Offer candidates a fast, rewarding, transparent, and engaging hiring experience
- Move from taking hiring practices on faith to having scientifically proven, continuously updated, and monitored results
- Give talent acquisition the data it needs to hire the best dramatically faster, not just fill the seat, AND to gauge real-time process ROI
- Manage the complexity of your unique workflows through a single configurable SaaS platform
These goals are within reach. Find out how Modern Hire is helping clients continually improve hiring results through a more personalized, data-driven experience for candidates, recruiters, and hiring managers.