In today’s technology-driven world, nearly 44% of businesses have reported that data drives most of their business decisions. While that seems like a large percentage, why aren’t the other 56% doing so as well? It’s likely because many don’t know the correct way to implement it for success.
In fact, a NewVantage Partners study found that while nearly 99% of executives want a data-driven culture, only 32% have found success in doing it. The underlying cause? A non-adaptive company culture.
So, the moral of the story is that while a data-driven hiring process is possible, it’s a multi-faceted objective. You first must build the culture. Then, capture the right analytics and data. And finally, apply for hiring success. Today, we’re sharing some tips for how to get this started within your own organization!
How to Shift to a Data-Driven Hiring Culture
So, for the first step, building a data-driven hiring culture, here are a few things to start with:
Get Management Buy-In
There’s a famous quote from the former Chairman & CEO of General Electric, “Good business leaders create a vision, articulate the vision, passionately own the vision, and relentlessly drive it to completion.”
In order for this initiative to be driven to completion and full adoption, a directive must come from the top.
Ensure You Have Systems Set-Up Properly
One of the top reasons a data-driven culture won’t work is that you’re not set up to properly capture the data you need. This leads to frustration from employees and ultimately abandonment of a data-driven culture. With tools integrated into Rooster’s automated interview scheduling software, you can determine exactly what metrics you need for success. As well as ensuring your systems are in place to capture that essential data and make it accessible to those who need it to drive change.
Train Your Team for How to Implement
In order for your team to lead with a data-first approach, they first must understand what that requires. Train your team members on how to pull the data, what data to track, why data is important, etc. This will go a long way for overall adoption and execution.
Track Your Successes
How has data-driven hiring impacted your organization? In order for it to become a long-term initiative, there must be proof of results. Offer quarterly reports that paint a picture of how using the data has impacted quality hires. It will take a few quarters to be able to gather these metrics, but it will contribute to long-term buy-in.
Once you’ve laid the foundation for data-driven hiring, you must ensure that you have a strategy moving forward for how to deploy the metrics for success.
How to Deploy Those Metrics for Hiring Success
So, how do you develop that strategy? Well, you start by creating a list of areas where you can potentially enhance your hiring process with data and work backwards.
Here are a few areas to consider when finalizing what metrics you’ll be capturing:
- Make Decisions
- Increase Efficiency
- Tweak Messaging
- Set Goals
- Budget Planning
From there, think about what you need to capture to cultivate solutions in those areas.
For example, to increase efficiency, you may want to track your time to fill.
To think about budget planning, you may want to see which hiring platform most of your hires originated from.
For ultimate candidate engagement, you may want to do A/B testing to see which automated emails get the most interviews scheduled.
You get the picture!
Metrics You Should Be Collecting for Data-Driven Hiring
According to CareerBuilder, a bad hire costs companies $10k-$40k based upon their level within the organization. By using data-driven hiring, you can avoid costly mistakes and guide your team to hire the right people while also increasing overall efficiency. From time to hire to response rates, there are so many metrics that will be helpful for data-driven hiring.
Check out our recent blog that features what you’ll want to capture for ultimate data-driven hiring success.
Rooster’s robust analytics capabilities are innately built to help you cultivate a data-driven hiring process. With the data you capture, you can immediately remove bottlenecks, increase visibility, and enhance productivity. Want to see how during a personalized demo? Let’s chat.