How Recruitment Analytics Can Help Global Mobility Specialists Hire the Right People

Recruitment analytics can help global mobility specialists hire the right people. And it’s not hard to understand why. It involves gathering, measuring, and analyzing candidate data, which allows management or global mobility specialists to predict better ways to assess and choose candidates. A more efficient hiring process is then achieved. 

No matter how much of the world is being driven by computers and smart technology nowadays, the analytics still point to the significance and importance of people as the drivers of success for any company. 

The more employees stay the better for any business. A survey of 74% of respondents claimed they were satisfied with their jobs, a 0.6% decrease from the previous year. (World Economic Forum, 2020) Knowing such stats, like the one above, and incorporating even more helpful types of data, can further be utilized for the future growth of employees of thriving businesses. 

Importance of people data

Data can be a lot of things. In a company, data gathered could be as follows: 

the number of employees laid off per year, number of new hires per month, number of qualified candidates for a promotion, costs for so and so, etc. In recruitment, types of data gathered and analyzed could be:

  • Number of candidates
  • Number of candidates with five years of experience in a related field of work
  • Number of completed tasks per year 
  • Number of years spent in previous company or industry

There is so much recruiting data available that it can actually be overwhelming. It is crucial to find out the right metrics needed, in order to achieve the desired results and outcomes. 

Here are some examples of ideal recruitment metrics, according to Zoho:

  • Number and Quality of Applicants
  • Applicant-to-Interview Ratio
  • Offer-to-Acceptance Ratio
  • Time and Cost Per Hire

What are the benefits of data analytics in enhancing the recruitment process?

Hiring of high quality candidates. Data analytics can help find and assess ideal candidates for the job. The company can look into performance reports from their top-performing employees and base their hiring on some key qualities that these people have.

Finding KPIs. Good things to find through the help of data analytics are Key Performance Indicators or KPIs. Knowing the KPIs of recruits, and if it matches the needs of the company will surely benefit HR in hiring the candidate efficiently.

Being cost-effective. Recruitment analytics grows and evolves to be better-suiting, effective, and even cost-effective. It costs money to hire the right candidate, and even more money if it’s the wrong or non-ideal person. But one thing that good metrics and analytics can give is it can help make better decisions about who to hire.

It saves time. A benefit of consistently hiring the right personnel is that it can save a lot of time. The screening and hiring process will be more efficient, and the right analytics model will save companies a lot of time in the long run. Imagine a scenario wherein a company hires the wrong employee, and this person makes a big mistake and leaves the company at a loss due to faults and damages. They could have prevented this happening had there been predictive data analytics.

It can help rid bias. Numbers don’t lie. Companies can be more upfront when choosing who to hire, without biases. HR can choose based on the metrics as to who is the best fit for the job, not just based on factors others may use such as someone just hiring a friend with little to no experience in the job. 

A chance for diversity, and taking calculated risks. Since the pandemic, more businesses have transitioned to remote work, hiring remote or global mobility professionals to do tasks, and fill job positions. The right recruitment analytic tool can give management confidence in trying new things or hiring new people from virtually anywhere now, judging from whether they satisfy the metrics and requirements of the company.

Constantly adjusting or recalibrating the metrics will help improve the recruitment process of any business. It comes with learning and relearning and implementing the analytics in recruiting and managing the newly hired. 

Recruitment analytics is a valuable part when it comes to moving forward and growing the workforce effectively.