Originally Posted on Forbes.com
Hiring the best and brightest is one of the enduring struggles organizations across the country face. Coming out ahead in the search for talent helps ensure success in the workplace, but with all companies competing for great candidates, finding and employing high-quality talent can be a significant challenge.
To recruit the best, smart businesses know the value of data-driven recruiting. A data-driven recruitment model can be used to help expand candidate flow and unlock the potential of the passive talent market. By utilizing talent mapping and implementing a real-time feedback loop, all while using historical recruitment data, recruiters are able to access the passive market to secure the best hires possible like never before.
Finding A Partner
Since the differences in results between recruiting teams that rely on data and those that do not are stark, it is critical that business leaders and hiring managers take the time to vet their potential recruitment partners to ensure they are using cutting-edge, data-driven recruitment practices. This can be a challenge, but digging into the three categories below can help you quickly understand if a recruiting firm is driven by data.
Mapping The Passive Market
Recruiting models that rely solely on applicants have tremendous limitations when searching for experienced hires. By narrowing the talent pool to only active job seekers, organizations lack a comprehensive survey of all qualified prospects, especially those that may be most skilled but are not actively searching for new positions. However, reaching talent beyond active seekers can be incredibly labor-intensive if a data-driven strategy is not employed.
The most effective first step for accessing the passive market is conducting talent mapping. Talent mapping is a recruitment tactic, driven by data, that charts segments of the population to determine who might be a good fit for an open position within a specific geographic region, keeping in mind a particular skill or aligning to a certain budget.
Conducting comprehensive talent mapping is time-consuming and requires a specialized skill set to execute correctly. As the amount of data available on prospective employees has grown significantly in recent years, it has made sifting through available information a task that requires extensive experience, and even a touch of artistry, to create workable talent mapping results.
Questions for a potential partner: Ask questions about what the potential partner’s first steps are when beginning a new project. Do they do a fresh sweep of talent that meets your criteria? Do they already have relationships with skilled hiring prospects? Most importantly, are they looking beyond active job seekers and engaging passive candidates to find you the very best match?
Creating A Feedback Loop
While talent mapping is an essential first step to understanding the talent landscape for a specific position, using data in real time is a critical second step to ensure recruitment efforts yield great results. As outreach begins to mapped prospects, it is important to record and analyze all responses, positive and negative, to ensure that there exists alignment between the talent market and the hiring profile.
If, for example, a talent map discovers 100 qualified individuals who meet the hiring profile, yet they are not interested in the position due to a low salary, that should be addressed immediately. A healthy feedback loop enables real-time adjustments to hiring criteria by modifying elements including geographic demands, expertise or compensation, based on the feedback from outreach and the talent mapping process.
The use of talent mapping, combined with the real-time feedback loop, has been a demonstrably successful pairing in the recruiting industry, and has become a necessary part of an effective data-driven approach to sourcing great candidates.
Questions for a potential partner: Dig into how often you will receive feedback from your recruitment partner regarding the search. What information do they provide regarding their efforts? Will they be fully transparent on how the project is going? If they are not making recommendations to you on if your hiring profile is achievable, they are not being a true partner or putting the data to work for you.
Using Historical Data To Maximize Your Advantage
Data gathered from talent mapping and prospect outreach can be stored and assessed to optimize the recruiting process during future projects. By recording data points such as prospect response rates by channel, the optimum number of recruiter contacts needed before discontinuing outreach or job acceptance rates for specific positions, recruitment teams can operate more efficiently by leaning on the learnings of previous efforts.
Questions for a potential partner: Determine if the potential partner has experience in the skills you are looking to hire. Do they have an internal system that records data from their previous hiring efforts to use on your behalf? If they aren’t tracking and leveraging data on your behalf from other projects, you aren’t getting a data-driven recruitment effort.
The Data-Driven Advantage
As organizations look to keep costs down while still recruiting high-quality candidates, the ability to efficiently source prospects from large groups of passive talent is a critical task for recruiting firms. Our organization has seen the results of utilizing data-driven recruiting firsthand and, with the use of effective talent mapping and analyzing outreach feedback, all while leveraging historical data, locating the best individuals and securing their placement for your company is more doable than ever.