Over the past few decades human resource recruiting has come a long way from the old paper days to now utilizing technology through predictive analytics. The latest breakthrough of "big data" allows talent acquirers to house large data sets to identify the most valuable talent and focus resources more efficiently.
Looking into marketing metrics can tell you how effectively your recruiting methods are working. If your company is not meeting it's projected levels, the talent acquisition team is able to investigate and take corrective action immediately. Big data helps HR map
out their talent needs in alignment with the company’s upcoming
business plan by providing info on the most effective online job
sites that should be engaged leading to more efficient recruiting spending.
The power of big data can be found by first examining internal data; such as looking at
the previous time to fill, cost per hire, sources of hire, attrition
rates, and performance scores for the positions that are critical to
fill in the upcoming hiring year. This leads to reviewing the data and metrics to determine the most cost-effective
sources and the most quality hires. High quality hires would be gauged as a person who exceeded performance goals and stayed with the company over a year.
Big data also gives companies the ability to review the number of unique IP addresses that visited their job/employer site. This allows companies to understand the traffic and information about candidates visiting their site.
The other components of big data analysis include job board metrics,
web traffic data, government labor data, social data, and data from
outsourced vendors. By blending this information, you can capture key
metrics about your company.
Going into the future companies that take advantage of the
latest HR technology will be able to gain keen insights into their
sourcing and hiring strategies.
The link to the article can be found:
http://www.tlnt.com/2013/03/27/big-data-technology-how-it-has-totally-changed-recruiting-and-hr/
This is an interesting post. As we known, big data has lots of advantages, but I think we cannot just evaluate a candidate by the statistics or Big Data tech. You cannot know anything about the candidates’ skills and job fig based on the Big Data approach. At the same time, “big data” do rise to meet the challenge of the recruiting. A talent management system with big data technology can speedily search and analyze huge volumes of diverse applicant data. In the beginning step of applying big data in the recruiting, we still have lots of challenge, such as the challenge of finding the right skills among the high volume dataset. Mollie Lombardi said, “We’re seeing the organizations are unable to identify people with the right skills”. The reason is very simple, the Big data. We have so many resumes to identify. Lombardi said, “It takes more time to do a comprehensive search, because you can’t query just once. As the development of big data technology, the situation is becoming better. For example, Map Reduce allows organizations with extremely large datasets to run queries and analytics on that data much faster than before. Monster’s SeeMore TMS could emplys parallelization to run a query on multiple servers simultaneously and the search is completed in milliseconds.
ReplyDeleteHere is the link of monster SeeMore. http://hiring.monster.com/recruitment/talent-management-software.aspx . It says “ You can find the most qualified talent from the resumes that you have collected over the years while enjoying on-demand access to your talent infrastructure.