How Big Data Can Help You Find the Best Talent

April 23rd, 2014

Finding the right people for your business doesn’t have to be a guessing game. Sure, there is a lot of subjectivity in the interviewing process and you must make judgment calls just to decide who to interview, but working with big data can take some of the guesswork out of hiring.

Finding talent. Data analytics can help to identify strong prospects – even those who aren’t currently looking for jobs. Programs can scrape websites from social media sources such as LinkedIn and Facebook or crowdsourcing sites like Quora. Keywords found on these sites can help you locate candidates with the skill sets you need. You may find candidates you would have missed through conventional means.

Attracting stronger candidates. Analyze the available data pool and find better ways to attract talent with the specific skills you are looking for. Create attention-grabbing job posts to generate candidate interest. Keywords work both ways. Job Seekers may be on the lookout for specific opportunities or projects of interest and if you advertise them, you’ll increase your chances of getting the people you want.

Predicting success. Analyzing the best practices of current employees can help identify traits that indicate a good fit. Test and interview for those traits to predict which candidates are likely to be successful in your company or department.

Analyzing compensation. Big Data can help you to determine market rates for the types of employees you are looking for. Knowing what is being offered can ensure that you don’t lose a desirable candidate to a better offer from the competition.

Reducing attrition. Data can help you identify patterns in previous employee loss. Do they live too far from the office? Have they gone too long period without a promotion or lateral move? Are you suffering heavy losses in one particular department?

Employees are often reluctant to give negative feedback in an exit interview, but if you have lost one good employee after another since hiring a new manager for that department, analytics can help you to identify that pattern and take steps to remedy it.

Getting HR on board. Traditionally human resources professionals come from a psychology or similar background and may not have analytic skills. The addition of big data intimidating to the hiring process can be intimidating. It’s important to emphasize that data analysis is a tool to make their job easier, not a threat to their job security.

Consider adding analysts to your HR department to interpret data and incorporate it into your talent search and management. If you don’t have the time or funds to allocate to this innovation, consider working with a company like the Select Group

Select Group provides consultative staffing services in the quantitative and web analytics arena of the financial and insurance industries. Contact us if you need help improving your hiring process or would like us to conduct your talent search contact.

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