Predictive analytics is a popular strategy that many companies are incorporating in their recruitment process. This technique helps businesses limit their risks of hiring talents with high probabilities of leaving the organization within a specific timeframe. When done right, predictive analytics could also help identify factors that contribute to employee turnover. According to research, some of these elements are salary increases, commute time, promotions, and employee experience.
So, how exactly can you incorporate predictive analytics as part of your hiring process? It all starts with efficient data collection. Once your organization has enough data on the types of people that are attracted to your company you can then compare it with the types of people that your organization is looking for and/or are already part of the company.
Here’s how your organization can collect data and use predictive analytics during recruitment:
During the Recruitment Process
- Use an Applicant Tracking System – An applicant screening system helps you collect data easily and simplifies your recruitment process. It’ll serve as your central storage for all the information provided by your candidates. Some systems could even conduct instant background check, verifying candidate data to ensure you’re getting correct information.
- Employment Screening – Let’s face it, some candidates may embellish certain information on their resume. It’s up to your recruitment team to fact-check these details. An important part of this step is verifying previous employment and references. This will help you predict how a candidate would perform and thrive in your organization.
- Employee assessment – Evaluations shouldn’t end once you had your talents on board. Conducting regular employee assessments would provide data on how your employees are growing in your company. It could also help you discover pain points or factors that are pushing some of your talents to leave the organization. In addition, it could show you opportunities for promoting employees or giving them different responsibilities so they could be more successful in your company.
Predicting employee performance and retention during the hiring process helps you choose not just the right candidates but the best ones who would stay longer in your organization. Once you have sufficient data, it’ll be easier to decide which candidate will thrive or fail in your company. By selecting candidates with the highest probability of staying in the company, you’re also reducing your costs of recruiting and training new hires.
Make predictive analytics easier with our applicant tracking system, employment screening, and employee assessment. Find the best talents quickly and get them on board in no time. Call us at (407) 682 5378 or email firstname.lastname@example.org for to learn more about our services.