Employers and talent acquisition specialists know that we’re in a competitive job market. With hundreds…
So much of the healthcare industry is based on absolutes and exact science. Why not apply similar principles to recruiting, too? Analytics have cropped up as a vital tool for marketing departments and businesses to gauge their website traffic and better learn how to promote their brands—and talent acquisition teams can also hop on board with data analysis to get ideal results.
To start, analytics can work on the small-scale, like when you use data to learn how users find your organization’s job ad. Did they Google you? Did they click an ad through social media? Understanding how applicants learn about your job opening can be as simple as a question on the bottom of an application: How did you hear about us? Collecting that data internally in your organization’s HR department can help you find the best strategy for your next job posting.
But there are also a lot of variables that can be scientifically calculated to optimize a job search. The data collected over years of internet traffic across job sites and across the entire healthcare industry—Big Data—is out there just waiting to be harnessed. The wealth of information available can give talent acquisition teams a boost in an industry where the competition for qualified candidates is high. Healthcare organizations, in particular, can benefit from Big Data analysis to make smarter hiring decisions, reach candidates more quickly, reduce turnover rates, and keep their budgets in check.
Gather Predictive Data Early In The Process
The turnover problem in the healthcare industry is real and it’s compounded by the fact that the healthcare sector is one of the fastest growing of the economy. If there are plenty of jobs out there, what keeps workers from shopping around? If a nurse can apply for a new job opening with a more convenient commute, there is little the HR team can do about that—except consider this data point before hiring.
Big Data is really just a way of assembling smaller data points into a larger picture. If you consider a candidate’s commute time as a factor alongside their qualifications, you might be better able to retain that employee. Knowing the factors that lead to turnover rates within your organization can help the HR team assess how to better engage employees, and also how to hire better in the first place. But data can be much more effective on a grand-scale.
Project Your Data Outward
Consider how this works in the hospital itself. Doctors don’t prescribe a drug based on a single drug trial. Much in the same way, it is harder to predict whether a new hire will stay just based on their commute time. The science of Big Data, however, can expand beyond a single hospital’s statistics to help talent acquisition teams understand the multiple factors that lead to high turnover rates industry-wide. The software programs that assemble this data can score candidates based on a number of factors that may not even be on your radar. Big Data has the potential to predict which candidate is the best hire based on a wider range of factors and increase your chances of keeping that hire. Increasing retention rates by assessing all the factors can save costs and time in the long run.
Reach The Right Candidates
Harnessing Big Data can also help in finding more job candidates, more efficiently. If, for example, you need to hire for a new nursing position, a program like PandoIQ can use historical data from nursing job ads across job ad boards, social media, and popular job search sites, prioritize ad space where nursing candidates are most likely to search, and incorporate real-time data to assess a job ad’s performance. Thus, the software uses Big Data to better target nursing candidates, widening your candidate pool and increasing the likelihood of getting a quality hire quickly. Sure, you can make a good hiring decision without Big Data—but the ability to get the best candidate in the door is much more likely to happen when you target the best candidates with Big Data pointing the way.
HR departments in the healthcare industry are increasingly using some form of recruitment analytics. If it’s not already part of your recruitment suite, your talent team may have to work that much harder to stay competitive.