Transforming Traditional Recruiting with Predictive Technology
The old way of finding, obtaining and hiring prospective candidates has become antiquated and inefficient for HR departments. With talent wars becoming increasingly competitive, HR must look to adopt transformative technologies that rely on data-driven analytics and insights to identify and attract candidates who have the most potential to be good cultural fits and evolve into competent loyal employees. To reach this point requires moving away from the old-school transactional method of recruiting.
Today, many industries are welcoming workforce collaboration and predictive technologies to transcend beyond previous product development and competitive landmarks. That same undertaking now needs to be applied in the talent management field. There is an abundance of new technology and predictive analytics that successfully equip HR professionals to better customize and revamp the recruiting process in ways that create a revitalized, personalized, and collaborative culture.
Rise of the Resumes
Recruiters these days could take a few pointers from some of the more data-driven online dating sites.
Popular services such as eHarmony are efficiently using predictive analytics to help hopeful searchers identify potential matches. Approaching recruiting using similar methods holds a great deal of potential when sourcing candidates to be the right fit for your organization.
However, the majority of HR departments are stuck in the past, treating head-hunting like a round of speed-dating. Overwhelmed by a slew of resumes, cover letters and LinkedIn profiles, the average HR manager spends roughly six seconds scanning a resume, forcing them to make haste decisions without a holistic picture. Without question, in those six seconds, companies are missing out on an abundance of perfect matches.
Filtering Through the Masses
Dating sites like Match.com or eHarmony increase the odds of their subscribers finding Mr. or Mrs. Right by collecting data based on a variety of questions and variables about each individual. Similar algorithms and data mining usage can be applied to the recruiting process adding objectivity and relevant metrics into hiring decisions.
For example, presently, when a company posts a position on its website or social media channels, it receives a data tidal wave and is forced to sift through a surplus of resumes. Predictive analytics and interactive technologies eliminate a great deal of these manual processes. Candidates are chosen based on skill-sets, unique backgrounds and other relevant factors. This method makes the hiring decision process objective and takes out internal politics and emotions. Managers have a rationale mindset and can additionally look within their own organizations to determine if a current employee could be the best fit, based on knowledge and skillsets.
Personality Goes a Long Way
I recently read a Brandon Hall executive summary that cited the importance of establishing a lively company brand to attract top talent. “Success in recruitment marketing requires a deep understanding of marketing principles and how to adapt them for use in talent acquisition,” explains Kyle Lagunas, the talent acquisition analyst behind the study published in February 2014.
Many candidates are seeking a genuine company brand they can relate to. The machine-learning technology that builds consumer engagement in the marketing realm holds the possibility for better match-making for HR departments. A recent survey by staffing firm, Randstad US, found that an employer’s “personality” can influence a candidate’s decision. Approximately 80 percent of the workers surveyed said that the most important factor they look for in an employer is honesty, while 71 percent said they want to work for a company that is reliable. Other critical traits job seekers search for in finding an organization are security and work-life balance.
Social media is an avenue that job hunters use to identify whether or not employers share the qualities and traits that are align with their own. This becomes crucial when considering that research by the London Business School and Deloitte found 90 percent of Generation Y employees do not intend to stay with any given employer for more than five years and 40 percent say they are already planning their next career move when they start a new role. Keeping this in mind, traditional talent management programs need to adapt in order to attract and retain talent.
Standing Out as an Employer of Choice
The potential results of intelligent analytics and predictive tools go far beyond the initial recruiting process. Transformative performance and talent management software can also strengthen employee involvement by providing ongoing communication and career-planning resources. HR can use innovative and engaging methods to speed-up onboarding, productivity and growth.
Once HR graduates pass outdated practices and adopts new approaches and tools, the potential is tenfold. In an interview with Forbes, Adam Penenberg, author of “Play at Work: How Games Inspire Breakthrough Thinking,” distinguishes the potential of gamification in the workplace to alter the way employees engage and collaborate in their career lifecycles. There are a number of Fortune 500 companies, such as Google, Microsoft and Lexus, that have adopted transformative technologies to engage workers. L’Oreal, for instance, created games for recruitment, for gauging the skills of potential employees and helping them discover where in the corporation they would most like to work.
Building a sense of community is a huge differentiator for employers who want to remain competitive, as it quickly allows new hires to be adopted into the network. By connecting hires with more established and experienced colleagues in a collaborative, united atmosphere, they feel welcomed and guided throughout the beginning of their careers.
The workforce of today expects more from their employers and in order to standout as employers of choice, HR needs to embrace transformative ways. HR must be at the forefront of adopting new technologies to cater to the candidates of tomorrow. The results will produce long-term engaged and satisfied employees.