Unlocking the Potential of Data-Driven Hiring: Supercharge Your Process from Start to Finish
In today's ever-evolving job market, keeping a competitive edge is crucial for businesses in pursuit of the best and brightest talent. Harnessing the power of data-driven recruitment offers unparalleled advantages, enhancing efficiency, effectiveness, and fairness throughout the entire hiring journey.
During our recent webinar, TA leaders from Beamery, Sedna, and Ashby discussed the benefits and challenges of collecting and utilising data in recruitment. Sophie Glendenning, Talent Acquisition Lead from Sedna, shared valuable advice for those just starting out with data collection. She emphasised the importance of not panicking and simply starting with three key areas to focus on.
In this blog post, we will explore various areas of focus for data collection and potential areas for expansion. In particular, we’ll cover five critical components of data-driven hiring - refining the candidate experience, assessing candidate fit, identifying training needs, making informed hiring decisions, and streamlining onboarding - and reveal how they can supercharge your recruitment strategy to secure top-tier talent.
1. Empowering Your Employer Brand with Candidate Feedback and Net Promoter Scores
In the challenging task of attracting the right talent, cultivating a positive employer brand, and promoting diversity, data-driven approaches can make all the difference. During the recent webinar, Glendenning shared her approach to data collection by starting with measuring the Candidate Net Promoter Score (cNPS) using Screenloop.
“We started with the candidate net promoter score - what experience candidates are having with your process. We do this with Screenloop, which makes it incredibly easy.”
To comprehensively calculate cNPS, you must capture candidate feedback from the very beginning of the hiring process and all the way through to the final offer stage.
Glendenning shared her experience of using Candidate Pulse to send surveys throughout their process to measure what sort of experience their candidates are having. According to Sophie, the first survey is triggered after a candidate has applied to the job, providing them with data on what interests the candidate at the point of application and why they chose to apply to the company.
“Now I can adjust my outreach and pitch on the first call to have a focus on both of those things and then hopefully increase our chance of securing the candidate's interest at that stage of the hiring process.”
By implementing a candidate feedback process, you can unlock invaluable insights into where applicants stumbled upon the job listing and how they perceive each stage of your hiring journey. By doing so, you can identify the most effective sourcing channels that yield the most qualified candidates and determine where drop-off points occur in the hiring process, making necessary adjustments. Additionally, analysing demographic data of applicants, interviewees, and hires can uncover potential biases in the selection process. Recognising patterns allows you to mitigate unconscious biases and create a more equitable hiring process.
The candidate experience is paramount for enticing and retaining exceptional talent. By harnessing the power of cNPS, you can identify areas that require enhancement and meticulously refine the overall candidate experience. The result of this can lead to heightened engagement, increased application rates, and a higher calibre of candidates.
Systematically collecting and dissecting NPS data empowers your organisation to establish a candidate-centric recruitment process, ultimately fortifying your employer brand. Leverage these insights to elevate the candidate experience, polish your Glassdoor ratings, and magnetise top-tier talent more effectively.
2. Uncovering Valuable Insights with Video Interviewing Metrics
As remote work and hiring continue to expand, video interviews are becoming an increasingly essential component of the recruitment process. By analysing metrics such as talk speed and interactivity, you can gather valuable insights from candidate interviews. The data collected can guarantee consistency across all interviews, whether it involves interviewers showing up on time, asking the same questions, or maintaining a uniform number of questions for each candidate. This consistency aids in minimising bias when assessing candidates, enabling objective comparisons and leading to more informed hiring decisions.
Standardising interviews is essential to ensure that all candidates are assessed equally, minimising the impact of unconscious biases. By tracking the frequency and uniformity of interactions during structured interviews, you can guarantee equitable engagement with candidates and evaluate them fairly and consistently.
The ability to record and capture key moments from interviews provides significant value in the hiring process. Interviewers can review these essential moments at a later date or whenever convenient, allowing attention to be entirely focused on the candidate during the interview. This not only enhances the candidate's experience but also alleviates the pressure on yourself or other interviewers to rely on hastily scribbled or disorganised notes.
By capturing key moments from interviews, you can also involve as many stakeholders as necessary in the hiring decision-making process, ensuring a more thorough and impartial evaluation of candidates. This approach promotes collaboration among teams and allows for well-informed decision-making. For example, Interview Intelligence revolutionised AssemblyAI's interview feedback process, fostering enhanced collaboration among teams and facilitating quick yet accurate evaluations of applicants. As a result, the company reduced time-to-hire by 37%, highlighting the power of interview data in the recruitment process. Sharing interview data with stakeholders not only improves the efficiency of the hiring process but also ensures that organisations are selecting the best candidates for their team.
Lastly, interview data helps improve interviewer professionalism by providing metrics on punctuality, talk speed, and interactivity. Interviewers can use this data to identify areas for improvement, and you can leverage this information to provide additional training to interviewers. This abundance of data can also be harnessed to discern trends and patterns across departments or individuals to guarantee that all interviewers maintain high standards of professionalism, leading to a better candidate experience.
"It's really important to strive for creating the best candidate experience regardless of getting to the offer stage or not because 95% of people refer someone to that company if they had a positive experience. Additionally, 78% of people equate candidate experience with employee experience, believing how they were treated as a candidate is how they'll be treated as an employee."
3. Elevating Interviewer Performance through Data-Driven Training
Interviewers are pivotal players in the hiring process, yet astonishingly, 70% of interviewers admit to having inadequate training, which often results in subpar candidate assessments and decreased Quality of Hire (QoH) scores. Interviewers must possess the necessary skills to evaluate candidates effectively without bias and demonstrate professionalism. Upholding these standards improves the candidate experience and reduces drop-off rates, ensuring a more diverse and talented applicant pool.
Groundbreaking hiring analytics from solutions like Interview Intelligence improve the process by recording interview sessions and generating impartial assessments of interviewer performance. These cutting-edge analytics tools empower hiring managers to take a critical look at their own performance and identify areas that require refinement, leading to a more robust and efficient recruitment process.
By adopting data-driven training modules and diligently monitoring engagement, test results, and performance progress, you can identify areas requiring improvement and provide targeted training for interviewers. Training programs contribute to employee development and satisfaction, ultimately, lowering attrition and improving employee retention.
During the webinar, Maria Riabukhina, People Operations Manager at Beamery, highlighted the importance of providing hiring managers and interviewers with training. According to her, "Those hiring managers and interviewers are my favourite because when you actually give them an opportunity to learn and change, that’s really powerful."
"Those hiring managers and interviewers are my favourite because when you actually give them an opportunity to learn and change, that’s really powerful.”
To illustrate the impact of comprehensive training and analytics on the recruitment process, consider Reachdesk, a rapidly growing tech company facing challenges in maintaining high candidate Net Promoter Scores (cNPS) due to their rapidly expanding hiring needs. To address these issues, they adopted the Interviewer Training and Interview Intelligence solutions. This helped build a new pool of well-prepared interviewers, which in turn reduced the workload for their Talent Acquisition (TA) team and significantly improved the candidate experience.
After implementing these solutions and providing comprehensive training, Reachdesk observed impressive results. Within just 90 days, their cNPS score leaped from 5.5 to 8.5, indicating that candidates were having more positive and engaging interviewing experiences. This significant improvement in their cNPS score demonstrates the power of data-driven training and analytics in improving the interview process and offering strong candidate experiences.
4. Verifying Quality of Hire with Soft Skill Analysis and Post-Hire Assessments
Incorporating soft skill analysis into pre-hire assessments is crucial to confirm the quality of potential hires. By analysing data from past hires, you can identify patterns that indicate the traits of an ideal candidate for a specific role. These "quality markers" enable teams to more effectively recruit candidates with similar attributes and drive long-term success.
The Quality of Hire solution is an innovative tool that corroborates attributes mentioned in references against a candidate's interview performance or self-assessment. These combined features enhance confidence in crucial hiring decisions and maximise the Quality of Hire (QoH) score. Having a holistic view of employee success provides insights into key indicators of success, such as new hires' performance, retention rates, and time-to-productivity. By determining whether new hires are meeting or exceeding expectations, you can evaluate and improve the effectiveness of your recruiting process in producing top-quality hires.
“Speak to your executive team - find out what's most important to them right now so you can track the right stuff that's going to get you that seat at the table and hopefully some great results.”
Glendenning suggests that to track the right stuff, you should speak to your executive team and find out what's most important to them right now. This way, you can focus on the metrics that will get you the desired results and that will showcase the impact of your talent strategy. Quality of Hire KPIs is one such metric that plays a pivotal role in demonstrating the value and impact of the talent function to board members, securing their buy-in and a seat at the table for talent acquisition professionals.
Presenting data-driven insights on QoH metrics showcases the tangible results of a well-executed talent strategy. Talent acquisition leaders, such as yourself, can emphasise the importance of investing in recruitment, training, and development initiatives by highlighting the correlation between effective hiring practices and the organisation's overall success. This evidence-based approach can garner increased support and commitment from board members, paving the way for a more robust talent function.
The key to communicating with executives is to tell stories that illustrate the impact of data insights on the talent function. Maria Riabukhina, People Operations Manager at Beamery, emphasised the importance of presenting data-driven insights to executives by sharing a success story from her own team. "What we're trying to do is to consistently look at data and measure the impact of different initiatives. For instance, we launched new benefits during the summertime and noticed an uptick in our offer acceptance rate. This is a story we can share with the executive team to demonstrate that our people team's efforts and our company culture are contributing to our success in hiring and having a wider impact."
"This is a story we can share with the executive team to demonstrate that our people team's efforts and our company culture are contributing to our success in hiring and having a wider impact. Being able to tell these stories is crucial when communicating with executives."
5. Personalise Onboarding for Accelerated Productivity
New employees often receive a generic onboarding experience that offers the same information, regardless of their role. This can hinder productivity as they need more time to acclimate to their specific position.
Referencing and candidate self-assessment data offer valuable insights on an individual's skills and performance to pinpoint areas to cover in onboarding for more efficient development and growth. By understanding each new hire's unique strengths, weaknesses, and preferences, hiring managers and department leads can tailor training materials, resources, and mentorship programs to address their specific needs.
This targeted approach enables companies to accelerate the ramp-up time for new hires, allowing them to quickly assimilate into their roles and become productive members of the team. By delivering a truly personalised onboarding experience, talent and people teams can not only enhance employee satisfaction and engagement but also bolster their overall talent retention and long-term success.
Our co-founder, Anton Boner, always says, “you can’t manage what you don’t measure.” Incorporating data into your talent strategy is critical for continuous improvement and success. However, it's not enough to just collect data - you must also regularly review and act upon it. As Glendenning from Sedna advises, "Make sure you actually block out time to look at and report on the data. The data is there to tell you what is and isn't working and the more quickly you can actually act on it, and get results from it."
"You can’t manage what you don’t measure."
This is especially important when it comes to benchmarking and forecasting. By regularly analysing your data insights, you can understand what good looks like and what is or isn’t working, and adjust your strategies accordingly. It may begin with capturing candidate feedback as soon as they enter the process to leveraging video interviewing metrics, referencing and assessment data, and quality of hire performance indicators.
As you continue to refine your hiring process using data and analytics, you'll be better equipped to foster a thriving and successful organisation. And with comprehensive data insights into not just candidate performance but also the effectiveness of recruiters and hiring managers, teams can have greater confidence that the decision making process is sound.
From streamlining the candidate experience to introducing predictive analytics — our platform can help you take your recruitment strategy to the next level. Get in touch with Screenloop today and unlock the full potential of data-driven hiring.