More and more companies are discovering the value of recruitment analysis and thus the importance of using data to generate an overview of the entire recruitment funnel, to understand the effects of your employer branding and to use benchmarking successfully. All in the name of a more data-driven approach to attracting and recruiting the right talent.
What can recruitment analysis do for your company?
Recruitment analysis makes it possible for HR to take a data-driven approach towards attracting and recruiting talent. Using data doesn’t have to be complicated. By accessing data, HR departments can identify and evaluate the concrete effect their decisions have on the business – data visualises the outcomes of the choices you make.
An analysis tool generates value for both HR and management. By using an analysis tool, you can save up to a whole 30–40% on your job advertising budget, while HR will receive more qualified applications and ultimately a better quality workforce. Tracking and optimising all recruitment activities enables you to both select better suited candidates and to put together a talent pool for future recruitment drives.
This represents huge value to company management, cutting the time-to-hire for new employees by at least 30%. Using an analysis tool thus makes it possible to get candidates more quickly and to reduce the costs per hire.
Five benefits of recruitment analysis:
- You can gather all your employer branding and recruitment data in the one place – meaning no need to go back and forth between different systems.
- Use data to make sure you invest in the right recruitment channel – would it be best to use LinkedIn, Facebook, Monster or a different channel all together?
- You can put together talent pools and measure the effect of your employer branding.
- Streamline your entire recruitment process: identify bottlenecks, improve the candidate experience and understand the effect of the different channels used.
- You can also get an overview of your entire recruitment funnel – from candidate visits on your careers page to contract signing.
Recruitment analysis shows the value of your employer branding
By using an analysis tool, you can gain full insights into what aspects of your employer branding efforts are working best on the candidates who visit your website and what effect they are having on your recruitment funnel. In this way, recruitment analysis can also help you to develop a better employer brand through the use of in-depth data insights which show how your employer branding both drives better recruitment and strengthens your company’s brand.
Benchmarking takes the pulse of your business
A good benchmarking functionality means valuable insights into your employer awareness, recruitment pipeline, recruitment process, sources and recruitment efficiency, etc. Each area can be broken down by country, brand, division and sources, allowing you to assess how you are performing in relation to the market as a whole, and perhaps even more importantly – how you are across your entire company.
This makes it easier to detect bottlenecks in your processes and to gain clarity around where your company is performing best and worst – in great detail and over time.
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