How big data and predictive analytics is useful in recruitment
Big Data and predictive analytics are set to dominate the Information Technology sector. This information is as per the Teamlease employment outlook report – March – October 2015.
Hence, professionals with experience in Big data and predictive analytics will drive the show. The SMAC stack – Social-Mobile-Analytics-Cloud ecosystem is a part of the skills-set.
Anyone with a decade long experience in recruitment will know the domain’s evolvement. Beginning with hard copies to soft copies, and now a mere status update in social media handles. Indeed the staffing and recruitment vertical has had significant phases to it.
The outlook of the industry may look different with time, though it is not. A deeper dive into it reveals nothing but data. Hence, it should not surprise anyone that Big Data is the future of recruitment as well.
Data refers to resumes, salary information, job descriptions and a lot more. With the advent of social media channels, mining this data is at disposal.
1. Big data and predictive analytics reduces the guesswork
If you have used Linkedin for recruitment, then you know what I mean. Its algorithm skims through the criteria set for a vacancy. Within no time it populates relevant results from its entire database.
You can then check the possible candidate(s) network for validation. Comparing this to the native processes; a personal interview was all you had. That is/was the only testing ground that was near close to taking a hiring decision. No doubt, a personal round of interview will always be of relevance. But when preluded with big data analytics, guesswork reduces for sure.
2. Appropriate weightage to the relevant metrics
Let us say you have a skill matrix for evaluation. How would you know if it is relevant for new job profiles. Even if it equips to an advanced level, does it give proper weightage for each skill. Until you invest in a training for advancements in the field, you will remain ignorant.
With Big data and predictive analytics, this problem becomes easier to deal with. With the automated softwares, one can jump from data to decisions with ease. Input of relevant skill sets matched with appropriate weightage are good to begin with.
There are few products in the market that help with this. One can have a look at TalentBin, Cornerstone (erstwhile Evolv) and Data2Decison for the purpose.
3. Big data and Predictive analytics helps with Strategic
By this I mean recruitment in unforeseen situations lowers with big data. The predictive analytics feature integrates recruitment functions with the sales plan. The decision of hiring then follows with organisation’s expansion with intelligence. The growth of workforce happens in the segment or location of expansion. This enables the internal recruiters to save time and energies from aimless hiring.
These are the 3 main reasons on how Big Data and Predictive Analytics affect hiring decisions. The way technology is spearheading towards automation, these outcomes do not surprise anymore. It depends how quick organisations embrace them into their system. That is a decision on their agility, for which they themselves will need to take a call.
If there is anything more you need to know on the Big data world, you can get in touch with us here.