Organizations are utilizing big data when determining the effectiveness of their business processes and how to leverage this data to gain competitive advantage.
Human Resources has been under pressure to prove they are strategic partners with organizations and not just paper-pushers. Human Resources professionals can apply big data to show their value in all aspects of HR. How does this translate to talent acquisition? Well, this is known under various names: people analytics, recruitment analytics, or predictive analytics. Whatever you call it, you are using big data. Big data can assist to streamline and create consistent processes from determining which is your best source of candidates, how to craft job ads to attract talent, and what to include in your selection process to best meet business outcomes.
You begin by determining the gaps and setting goals by asking questions: What do we want to achieve or what is the business outcome? Where are we, where do we want to go and how do we get there?
After crafting your goals, you need to look at your recruitment process and recruitment data. Then ask more questions. For example:
How much does it cost to fill a job?
Which source brings you the most hires?
What is the quality of hire?
Creating a diverse culture?
What is their tenure?
This isn’t an iterative process and will require monitoring and maintenance.