Best Tips to Analyse People for Recruitment

Approach to Analytics

1. Figure out who in the organization requires to make any decision concerning or in conjunction with recruitment data.
2. Interview them to understand what data do they need to analyze and how they would want it to be presented. ‘What data to analyze’ is crucial because you need to ensure that your system is capturing that data. For example, if you want to know the source of an online job application, but your system is not capturing this info, then you need to fix that.
3. The next important question is what kind of analysis and, therefore, the kind of inference that you would like to make from the data. This will dictate the way it is collated and presented. As in the above example, if you wish to capture the source of your application and let us say the applications have come from your careers page on your website, you may want to understand how did the applicant come to your career page in the first place. Did she type your company URL in the browser, or did she use google search, or did she respond to some job advertisements online? So now, this not only tells you the application came from your careers page but also how the applicant found your careers page. You may further like to see this data on a daily, weekly, or any other periodicity basis. You could also like to analyze this data with the advertisement spend for that specific job.

Recruitment Analytics

• Candidate Database In this you will like to know-
• 1. The total number of CVs in the database
  2. How updated the Cvs are. (You will need to capture the last updated date)
  3. Number of CVs Education levels wise
  4. A number of CVs Skillswise.
  5. Number of CVs experience wise

1. 1. 1. A number of total jobs entered in a time period. This data will be required location-wise, role wise, level wise and need to be integrated with the attrition data to keep track of manpower expansion vis a vis refills of attrition.
      2. Turn around time Need to track the time taken from the date a job was entered in the system to the age of new joinee. Time needs to be tracked for every stage of the hiring pipeline. This will enable the leadership to analyze the bottlenecks in the system and the stages which need to be speeded up. Also, over a few years, if the normal attrition levels are tracked along with the time to hire, a proactive approach to hiring may be adapted specially for critical positions.

• Source of New Hires This becomes an extremely important piece of information for two reasons. 

1. 1. Expense varies based on the source of hiring
   2. Source also defines the quality and speed of hiring

Typically a company will have three sources of hiring

1. 1. Direct Applicants Even here to need to track the source from where the applicants have applied. It could be-
      1. Social Media ( which one?)
      2. Company Careers Page
      3. Job boards
      4. Print Media Advertisements
      5. Existing Database ( through email campaign)

This also allows the leadership to decide how much to spend on which medium to get optimal results.

1. 1. Employee Referrals Good referrals from employees not only indicates that your employees are happy working with you, but also that you have designed the referral scheme well. This, by far, is the best source of hiring.
   2. Recruitment Agencies In this case you need to measure the performance of agencies on the following parameters
      1. Costs of hiring
      2. Speed of hiring
      3. Quality of candidates ( Ratio of presented to selected candidates). This is an extremely important parameter as poor candidates will only end up occupying your internal recruiters’ time in putting them through the recruitment process.

Tracking such sources and their associated data can enable leaders to set targets regarding the `percentage of hires from various sources.

1. Offer Acceptance Rate A low rate here may indicate issues with the hiring process, including role definition and compensation negotiations.
2. Retention Rate The recruitment team must also keep a close track on the retention rates of new hires. I feel this period must be at least one year for junior and mid-level hires an about two years for senior highers. A reduced retention rate indicates (among other things) that there has been a mismatch in the expectations set during the hiring process. A rosy picture may have been painted about the role, which is far from reality.
3. Gender and Ethnic profile Important to track this so as to ensure that the organization hiring is well balanced in regards to this aspect. This must not be seen as ignoring merit. However, if all other things being equal, a conscious effort must be made to ensure diversity.
4. New Hire Performance This must be mapped for at least the first year after hiring. Most selection processes assess candidates on specific competencies required for the role. Based on performance, some specific competencies will stand out, which could predict superior performance. These could be used to refine the competency-based hiring models.
5. Candidate online footprint This kind of data gathered from the internet is increasingly being used by recruitment teams to decide on the suitability of an applicant. Your tech platform will need to have the capability to capture this.
6. Use of AI to shortlist candidates Much as AI (Artificial Intelligence) and Machine Learning are trendy concepts nowadays. This will require data from other sources. As in point 7 above, competency levels or additional information like education levels, previous experience, etc. can be fed into the system to shortlist candidates automatically. Based on continuous inputs, the logic for shortlisting candidates can improve itself (machine learning).
7. Internal Recruiter Performance This needs to be exactly measured the same way as you would asses external recruitment agencies’ performance as mentioned above.