So many aspects of your recruitment strategy are now digitized, which streamlines the application process for job seekers and organizations alike—you just upload a file and click a button. But the potential benefits of all this digitized data are so much more than just collecting resumes without drowning in paper. Digitizing this information means you can now use that data to help predict how to find better candidates now and more efficiently in the future. For talent acquisition teams who want to stay competitive, smart use of data will be the cornerstone of a solid recruitment strategy that is proactive, predictive, and forward-thinking.
1. Better marketing
Whether it’s reviews of the workplace environment on job-seeker sites or simply browsing the company’s website, the first impression of your organization for many job-seekers will be on the web. A forward-thinking strategy will look at the data you don’t know you’re putting out there and how it is attracting or repelling potential candidates.
In a recent survey, 32% of HR professionals rated their understanding of recruitment marketing as “very high” or “high.” Marketing the company profile via social media and web platforms can attract highly qualified candidates even before a job opens up. But you also need to find where the quality candidates are. Because we exist in a vast sea of digital data when searching online or on social media, this is a place where AI technology can really help—in the form of targeted ads that use Machine Learning to get the eyes you want. By using a complex set of algorithms based on recruitment data, AI can predict where quality potential candidates for your next job opening are already looking. (By algorithmically processing internal company data, it can even predict your next job opening before you can!)
2. Saving time
Of course, if your recruitment strategy is successful, you’ll now have a new problem, but a good one: a lot of resumes to screen. That can take up a large amount of a recruiter’s time, unnecessarily. One of the best benefits of using AI-enabled screening software is that it will save time sorting through all the digital data that may be too time-consuming for any lone recruiter to navigate. Whether it’s in developing the best targets for building the company profile, finding the best platforms for job ad campaigns, or screening resumes, decision-making can be efficient and based on the data to streamline the process and help talent acquisition teams spend more time where it counts: focusing on the few select candidates to interview and potentially bring on board.
3. Improved quality of hire
A data-driven approach to your recruitment marketing builds the framework for talent acquisition teams to source the best places. When you’re ready to fill a new position, Machine Learning can help predict where and how candidates for a particular job actually search for jobs. Then, once you have your pool of quality candidate resumes, you’ve essentially collected more data to be analyzed to continue optimizing the process going forward. AI algorithms that use features like natural language processing to match best candidates to job criteria can help sort your best candidates—but, even further, using information from thousands of companies over years, prediction algorithms can help determine more abstract metrics like quality of hire. Prediction isn’t guesswork; it’s all based on the data, and with Machine Learning you can garner a lot more.
4. Smarter budgeting
When you’re locked into a budget and need to create job ads for many open positions, prediction software can help determine the best allocation of resources for each job ad and where to place them in order to maximize every dollar you spend across the entire campaign. Knowing the best way to spend a job ad budget is often seen only in hindsight when you analyze the numbers after the fact; investing in a data-driven recruitment strategy that can predict cost-efficiencies in advance will ultimately lead to a much better ROI.
The majority of HR professionals are only now scratching the surface of Big Data recruitment and its benefits. However, Big Data and its perks have been around for quite some time. This means that the majority of HR professionals are actually behind on the latest trends. This means that you have the opportunity to be one of the few HR professionals effectively utilizing the omnipresence of social media and web applications for more effective and efficient hiring.
When the next new job-search platform emerges, the Machine Learning aspects of AI tech will be able to adjust to the next trend in recruitment marketing. When you create efficiencies across the hiring process with predictive data, your company can stay competitive—and also get ahead of the game.