Recruiting ROI: How to Record Data to Make Better Decisions

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Applying data analytics to recruiting provides your company with a variety of benefits. You can identify what is and is not working, limit hiring errors and improve employee retention. You also can flag recruitment risk factors, predict hiring needs and gain visibility into your entire process. For these reasons, knowing how to record relevant data will help you make better recruiting decisions.

Measuring Recruitment Effectiveness

How well you take a candidate through the process, from applying for a role to receiving a job offer, affects business success. You can use data to calculate the cost per hire, time to fill, quality of hire and employee turnover rate. Also, monitoring the number of candidates who pass screening processes and the number who interview can help identify gaps. For instance, too many candidates may be falling out in one area and too few may be moving from screening to an interview. Or, too many candidates may be advancing in the process and hiring managers do not have enough time to interview all of them.

Determining Job Competencies

Initiative, adaptability, financial acumen and other critical elements can be determined by assessing employees and supervisors in similar roles. You can interview those staff members to determine which qualities make or break performance for the position to understand what a new hire needs to do and which qualities they need to achieve those objectives.

Conducting Structured Interviews

Based on previous research, such as the five most important personality traits and job performance, you can determine specific qualifications needed for success in a role. You can incorporate this data into interview questions to determine a candidate’s competence in various areas. You can create 10-12 questions to ask each candidate and use the same set of standards to measure their answers. Consistent questioning creates better data to compare candidates and determine which should be most successful in a role.

Selecting Appropriate Assessments

Assess for a certain skill or being able to perform a specific task with targeted testing. Also, measure the likelihood of engaging in different types of behaviors through personality tests. Determine whether a candidate may be a good cultural fit by creating customized assessments. Assess a candidate’s leadership potential through a situational judgment assessment or emotional intelligence tests.

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