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The Four Levels of Data Analytics and Why They Matter for Recruiting
As recruiting moves away from "gut feeling" hiring to data-driven decision making, leading players are beginning to offer analytics solutions, but how should hiring managers best make use of them?
iCIMS, Lever, Bullhorn, Hyrell, and many others offer analytics capabilities in addition to basic candidate management. In fact, an entire candidate assessment field exists to make this process faster and more accurate.
There are four levels of analytics that hiring managers need to be aware of:
- Descriptive: What is happening? E.g. are we hiring more men than women?
- Diagnostic: Why is it happening? E.g. what qualifications are common among the employees hired in the past year that have done well vs. ones that have not?
- Predictive: What is likely to happen in the future? E.g. how likely is a particular candidate to accept the job offer?
- Prescriptive: What should we do about it? E.g. what is the best way to entice a candidate to accept an offer?
When used purposefully, data analytics in recruiting is a win-win for both the employer and the candidate. A streamlined search and hiring process, as well as a better fit between candidate and organization, means better-performing, happier employees.
Source: SoftwareReviews, Report Published July 2019
- The use of analytics in talent recruitment is on the rise.
- Different levels of analytics provide varying degrees of insight.
- Analytics should be used purposefully to be worth the investment.
- Proper use of analytics benefits both organization and candidate.
Zinc, a blockchain-based automated reference checking service provider, has announced integration with SmartRecruiters, an applicant tracking system provider.
Bullhorn, an applicant tracking system (ATS) solution provider, has announced an improvement to its existing vendors management system (VMS) Sync offering with the deployment of "closed-loop VMS-ATS integration" that automates the transfer of candidate information from the ATS back into the VMS.
Talview, an artificial intelligence (AI) HR tech startup, has announced that it has raised $6.75 million to build Instahiring, a new AI-enhanced recruitment platform promising to slash time to hire.
HireRight, a leading background screening provider, has announced that it has further improved integration with iCIMS. This enhanced integration offers a more efficient workflow that ultimately leads to improved candidate and employer experience during the hiring process.
VidCruiter, an online recruitment platform that offers video interviewing capability, has partnered with iCIMS to allow seamless data sharing between the two platforms.
Newton, an applicant tracking software, is a Challenger in the Recruitment Software space. Generally well received by its customers, it will find opportunities in continued innovation and ongoing support.
JazzHR has launched a partnership with Wonderlic, a pre-employment testing provider, to integrate Wonderlic assessment results directly into the JazzHR interface.
iCIMS, a major talent acquisition software provider, has launched pre-built integration with third-party candidate assessment tools, improving implementation efficiency and user experience.