To tackle one of the biggest challenges of better recruitment, CareerBuilder and Broadbean have launched Big Data Analytics Suite (BDAS), the first and only software solution that seamlessly gathers disparate recruitment data from all internal and external sources a company uses and merges it into a single, actionable narrative.
While 90 percent CEOs realise the need for HR professionals to be proficient with workforce analytics tools, the root cause of the problem emerges when companies use multiple candidate sources to drive recruitment goals. It can be very time consuming to aggregate data and often impossible to extract consistent and accurate insight.
BDAS provides an end-to-end solution for the entire recruitment chain, and is designed around conversations held every day between recruiters and hiring managers to make sure every recruiting dollar is spent effectively. BDAS’s dashboards allow users to view the entirety of their recruitment program from one screen or to view individual vacant and filled jobs, groups of jobs, candidate diversity, market data and the performance of hiring managers and recruiters.
Since companies rely on multiple candidate sources in conjunction with an applicant tracking or HR information system to gain insights and make decisions, too much of a recruiter’s day is spent on administrative tasks instead of building relationships with candidates. BDAS makes recruiting teams significantly more productive.
Users can further create data-driven recruitment strategies by comparing the performance of candidate sources and how much is spent on each one to acquire candidates and hires. According to the February-March 2015 Harris Poll survey, 22 percent of HR managers say it takes at least half a work day to pull their recruitment data, however by using BDAS solutions it takes seconds to combine real-time data inputs from each and every source of information relevant to the pre-hire process.
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“We visualize the key components of your data with bespoke designs that help you tell the full story about what’s happening in your recruitment process – from the cost and performance of different sources of hire to specific recruiter activities within your organization. We provide meaningful insights to change behaviours, justify spend and help you build more effective recruitment strategies – and we do it in a matter of seconds,” said Dominic Barton, COO of Broadbean.
BDAS is designed to solve five key problems for recruiters with sophisticated but easy-to-use software that lets recruiters make the most of their data and identify which components of their recruitment strategy are producing the best ROI:
Recruiters are often sitting on an overwhelming amount of data, but either do not trust it or cannot effectively turn it into analytics that drive better workforce decisions. The sheer volume, complexity and diversity of the data can cause recruiters and talent acquisition leaders to struggle to discover and tell the story in the data.
With comprehensive visualisation capabilities, BDAS protects the richness of the data, but visualizes it in a way that’s easy for anyone to tell their story. Using pre-set rules agreed upon with the client, BDAS audits data in advance, exposing inaccuracies and ensuring consistency and reliability. All of the client’s recruitment information is then packaged in simple, but powerful graphics.
Bringing data from disparate systems and vendors together is tedious and makes it difficult to extract meaningful insights. BDAS creates a report that combines data from a wide range of sources, including career sites, multi-posting systems, applicant tracking systems, HR information systems and third-party market data, resulting in an accurate, detailed picture of the whole recruitment operation.
Recruiters often do not know where to look to explain the past performance of a job (how hard it may be to fill) to a hiring manager, making it tough to manage expectations upfront. Backed by data and easy-to-comprehend reports with BDAS, recruiters can more easily set expectations for hiring managers, make the case for alternative recruitment tactics, and budget appropriately.
Recruiting teams often play a guessing game when it comes to which advertising sources are working well and which ones are not – ultimately wasting precious budget. BDAS can analyze precise performance results of each advertising source based on numerous factors, including job location, job title, time-to-hire and cost-per-hire.
It is difficult to know how individual recruiters in an organization are performing because there is not a convenient, efficient way to measure progress. BDAS measures individual recruiters by key performance metrics, giving HR managers the insights needed to coach a full team.
As customers struggle to extract actionable insights, BDAS works hand-in-hand with companies to help find a solution that would illuminate data that’s already there and maximize the investment they’ve already made. Two-thirds of employers who use big data in recruitment say it lowered their cost-per-hire and time-to-hire.
News and Image credit: careerbuilder.com
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