Data Analytics for Companies
Data is everywhere now, and companies are constantly trying to leverage themselves using data analytics. 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 analytics for companies can help you 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 to improve it. Use this to analyze rebranding efforts and create your employer brand.
2. Analyze Your Hiring Platforms
There are a variety of platforms to promote job openings: LinkedIn, social media, company websites, hiring sites, etc. By analyzing which platform brings 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. The post needs to match the company’s employer brand and reflect what applicants want to see. Analyzing data from your job posts provides you with custom recommendations to improve the responses you receive based on factors like duration and location of the post, 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 analytics software to find the candidate with the attributes your company is looking for.
5. Learn from Past Employees
Know employees who are voluntarily leaving? Ask them to fill out an exit 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 who are likely to stay.
8. Keep Track of Your Hiring Process
Keeping track of when and where you will likely need to recruit employees, as well as how long the process will take, will help your company plan 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’s easier to make changes throughout the company.
