The year 2018 is expected to witness the rise of several new trends in the field of recruitment. Automation, social media, and a mix of marketing and PR activities may set the tone for recruitment in the forthcoming year. All in all, the underlying theme for recruitment in 2018 is going to be technology and creativity or, as we’d like to phrase it, ‘using technology creatively.’ Contrary to the tradition so far, recruiters will be seen wooing candidates. Only strong employer branding and deep actionable insights will manage to keep hiring strategies afloat. Against such a backdrop, recruiters will require a combination of HR data analytics and HR business intelligence to pave the way forward.
HR data analytics and HR business intelligence are two sides of the same coin. Both these techniques aim to equip HR personnel with information that’ll help them prepare recruiting strategies that are ready for the competitive times ahead. Here’s what your recruitment tool must offer with respect to analytics and business intelligence:
HR data analytics
This form of analytics looks inwards to give recruiters a fair understanding of how their strategies are performing and what exactly is not working out for them. HR data analytics with Talismatic analyzes and gives recruiters a dashboard view of the following metrics:
- Hiring performance: performance during the past and current recruitment cycles
- Closing time: average time taken to fill a vacancy
- Active openings: vacancies still awaiting a perfect candidate
- Underperforming jobs: jobs that haven’t received any applications till date
Recruiters can use the resulting analytics to:
- Consolidate hiring data
- Align organizational priority
- Address recruitment bottlenecks
- Gauge hiring timeframes
- Plan for contingencies
Talismatic’s dashboard view of HR data analytics comes with a graphical representation of the above metrics across parameters like city, job category, and timeframe. For instance, using Talismatic, a recruiter can see how his job posting for a data scientist has been performing in California over the last one week; that’s how specific you can narrow down your analytics to with Talismatic. With such deep insights, you can take measures to improvise or re-design your hiring endeavors to meet your recruitment goals and retain the best people.
HR business intelligence
Once upon a time, business intelligence was a process that performed an overall analysis of the information from various business operations in an organization to help with strategic decision-making. But this was before the HR function took up its new organizational role – the role of strategic advisor and tactical decision-maker. The changing role of HR in the current times have necessitated the exclusive introduction of ‘intelligence’ to HR operations and strategies. HR business intelligence bears testimony to the growing importance of recruitment goals in the success of organizational goals.
HR business intelligence gives you a holistic analysis of your recruitment performance with respect to your competitors, the job market, and the recruitment industry. It propels you to look beyond an inward-looking strategy and towards a more value-driven approach. Recruitment tools like Talismatic add a streak of intelligence to HR functions by offering analytics around:
- Positions your competitors are hiring for
- Your recruitment performance in contrast to your competitors
- Candidates your competitors are approaching
- Surges, if any, in the hiring activities of competitors
- Location of your potential candidates across America
- Top cities for your candidate search
- City-wise exact strength of potential candidates
- Companies you can poach passive candidates from
- Exact number of potential candidates in top companies
- Most sought after skills in candidates for your vacancy
HR business intelligence with Talismatic will let recruiters:
- Recruit the best talent across the industry, competitors, and universities
- Target the right markets for talent search
- Analyze job market trends
- Differentiate hiring strategies
- Compare recruitment capabilities
- Measure overall performance
Furthermore, Talismatic lets you refine your HR intelligence insights with filters like job category, city, company size, industry, and job type. It gives you visually intuitive results so that you may save all your time for crafting a recruitment strategy that understands recruitment dynamics and brings intelligence to your hiring.
Talismatic is a powerful recruitment tool that integrates HR data analytics and HR business intelligence into a single platform. You, therefore, get a bird’s eye view of your organization’s recruitment organization by employing a single tool.