When hiring at scale, it’s essential to collect data on all the candidates and compare the results to see who gets hired. It’s also important to select candidates with the right skills and qualities. The selection criteria should be standardized and should be evaluated centrally. Anonymizing data can help minimize biases in the hiring process. Removing specific indicators, such as race, gender, and age makes the process more objective.
With tools like Revelio Labs, you can monitor the biases in the recruitment process and identify candidates who might be dropping out of the recruitment process due to certain factors.
Here are the ways you can use your workforce data to develop your diversity hiring decisions:
Combine HR Analytic Tools To Workforce Planning
As an example of data-driven recruitment, recruiting teams wants an easy-to-use system for integrating all of their employee data into their strategic workforce planning, from candidate sourcing through onboarding and beyond. Employers’ needs may be better met by recruiters who have this whole picture at their fingertips. A few advantages of using this data-driven approach is:
- Predict the time frame for hiring: With workforce analytics, you can easily determine how long it takes to hire for a specific role and how many people gets employed. This will help you make informed hiring decisions and provide you with accurate hiring time estimates.
- Enhance the recruitment process: With workforce intelligence tools, HR professionals can easily measure the impact of various factors on a candidate’s experience. They can then create strategies to improve a candidate’s success chances.
- Integrate diversity into hiring: Instead of predicting which part of the hiring process will result in successful recruitment, use analytics to monitor the hiring funnel for key demographic ratios.
- Improve hire quality: By tracking new hires across the entire employee lifecycle, you can identify what makes a good fit and what makes a bad one.
- Execute on recruiting potential: This planning process combines data collected from workforce analytics with traditional planning methods. It allows you to measure the total cost of various recruiting activities and lets you identify areas where you can improve.
The combination of HR analytics and strategic workforce planning helps you answer your most essential recruitment questions with certainty, and increase the team’s business impact via workforce intelligence.
Choose The Right Data And Metrics
The first step is to choose a critical data and metrics to monitor. Because this statistic reveals the overall success of your recruiting operations, all companies may benefit from assessing the quality of hire. Additionally, the following measures are often used:
- Time-to-hire: Human resources departments use time-to-hire as a significant indicator to measure the time it takes for a firm to reach out to a job applicant and for them to accept an offer of employment.
- Candidate experience: Ask applicants about their candidate experience. Hire a research firm that can develop objective measures and questionnaires or they can also create an online candidate experience survey and email it to applicants and new hires.
- Cost per hire: In recruitment, the cost per hire estimates the expenses of acquiring new personnel. These include charges for sourcing, recruiting, onboarding, and referral incentive programs.
- The source of hire (SOH) reveals how many of your total hires came from each recruitment source. Recruiting budgets and procedures may be better allocated and improved using this data.
- Job offer acceptance rate(OAR): This indicates how many applicants accepted your job offer. The indicator measures how competitive your employment offers are. Your team won’t employ the prospects they want if your OAR drops. This may cause you to reconsider your salary ranges or your applicant communication methods.
Decide what you’re going to do with the data after you’ve gathered it. Even though your recruiting teams are used to making judgments based on gut feelings, statistics will be a powerful tool for them in searching for new employees. This information will assist them in identifying what worked and what didn’t in the past to make better judgments in the future.
Use The Right Approach For Diversity, Equity, And Inclusion Data
Improving Diversity, Equity, and Inclusion data (DEI) requires assessing, planning, and executing change across enterprises. At its foundation, DEI employs a diverse workforce wherein evryone has a voice and a seat on the table.
You may use statistics to inform your diversity and inclusion plan in two ways. First, before you can begin implementing DEI strategies, you need to identify the gaps in your organization’s diversity, inclusion, and racial equality efforts. Then, for each stage of an employee’s lifecycle—sourcing, selection, compensation, engagement, pay, promotion, and attrition. You must have a data collecting strategy to ensure that you have accurate information.
Workforce data may assist you in establishing control over areas of your company where bias may be most prevalent and give insight into the current level of diversity, equity, and inclusion data within your corporation. When recruiting at scale, statistics may help detect systematic instances of prejudice and implement controls to reduce or eliminate them. By following the ways stated in this article, it may help you be certain in your hiring decisions in the future.