10 ways Data Analytics can Improve your Company

By on July 21st, 2018

Data is everywhere now and companies are constantly trying to leverage themselves using data. With every website you visit, every search you make on Google and every post you make on social media, you are producing data that is used by a variety of companies in efforts to improve and create targeted marketing. The data trend, however, goes beyond marketing to clients and can be used during your company’s hiring process.

Here are 10 ways data can help your company with hiring.

    1. Build your employer brand. Surveying employees about their experiences and whether or not they would recommend your company to friends looking for jobs can be a great way to see how the company is doing and how it can be improved. This can be used to analyze rebranding efforts and in creating an employer brand.
    2. Analyze your hiring platforms. There are a variety of platforms where you promote job opening – LinkedIn, social media, company websites, hiring sites, etc. By analyzing which platform has brought your company the best candidates (NOT the most candidates), you can focus the company’s energy on the platforms that work best.
    3. Optimize your job postings. Now that you are on the right platform for your company, you have to use your job posts on the platform to drive people to apply. It is important for the post to match the company’s employer brand and reflect what applicants want to see. Analyzing data from your job posts can provide you custom recommendations to improve the responses you receive based on factors like duration and location of post with regards to the type of job and industry.
    4. Analyze applicant attributes. The perfect candidate goes beyond skills, qualifications and experience. Their personality and culture should also match those of your company. Use an analytics software to find which candidate has the attributes your company is looking for.
    5. Learn from past employees. Have employees who are voluntarily leaving your company to fill out a survey. You can learn a lot about how employees view your company and how you can improve the employer brand and work environment.
    6. Check talent supply and demand. Find out where the best talent for the position you are hiring resides and try to hire people there.
    7. Create a predictive retention system. Use data to predict whether employees are likely to stay or change jobs. Knowing your likely retention rate can help you with training employees that are likely to stay.
    8. Keep track of your hiring process. Keep track of when and where you will likely need to recruit employees as well as how long the process will take can help your company plan ahead when it comes to hiring new employees.
    9. Prioritize key business areas. Use an analytical approach to address key issues in the company overall, rather than attempting to apply analytics across the board, especially when you are barely introducing analytics to your company.
    10. Change your company’s mindset to data-first. Build a culture where data analytics is rewarded and appreciated. By changing the culture, it will be easier to make changes throughout the company.
       

       

Sources:
https://www.forbes.com/sites/bernardmarr/2018/05/04/data-driven-hr-how-big-data-and-analytics-are-transforming-recruitment/#5a5b80e32d1f
https://hiring.monster.com/hr/hr-best-practices/recruiting-hiring-advice/strategic-workforce-planning/staffing-predictive-analytics.aspx
https://business.linkedin.com/content/dam/me/business/en-us/talent-solutions/talent-intelligence/workforce/pdfs/Final_v4_NAMER_Rise-of-Analytics-Report.pdf

 

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