Analytics in Hiring
Analytics on Hiring or Recruitment Analytics empowers organizations to hire faster and effectively. Recruitment Analytics is the real-time information derived from the right set of data and predictive insights. This technology combination helps the recruitment industry and organizations to make accurate and informed decisions based on the right data. Just like any other department in an organization, now recruitment can also be tracked and measured using software and applications like ATS (Applicant Tracking Systems).
Using analytics while hiring makes the recruitment process completely data-driven and improves hiring metrics such as time to hire, cost to hire, quality of hire, compatibility with the open opportunity, retention, overall velocity of hires, etc.
Strategizing and Analyzing hiring reports based on analytics allows the user to access data in real-time for hiring optimization.
Importance of Analytics in the Hiring process
Finding the right talent for a job is not as easy as it seems. Even a candidate might not know his/her skill sets until analyzed. When the goals of an organization are set, each employee’s contribution must be efficient that is possible if resources are hired and allotted based on their skillsets.