…….what happens to all the data that is collected by the organization during a job search? This question was posed to the HR community at large and the surprising answer was….not much if anything. In today’s data rich environment on which organizations create and maintain their competitive advantage it would seem logical that the data should be used for any number of purposes. With organizations being able to source the land and capital requirements without too much issue, the labor component is the most important component of the factors of production. Why waste this information? Below are 3-things that organizations can do with the data.
Benchmark Against Your Competitors
With many of the applicants being employed by a competitor, the data can be used to size up your organization against those whom you compete. Overall statistical items such as tenure, project and product experience, and other background information are a great way to judge the quality of your organization in relationship to your competitor. Things like certifications, specific technical abilities, and education are always an interesting comparison. An organization cannot grow from a human capital aspect unless one knows exactly where the shortfalls lie.
Are You Recruiting Correctly?
The vast majority of job postings contain a plethora of qualifications and skills that form the basis for the perfect employee. While some of the qualifications and skills are requirements, the majority are a wish list list that may or may not be of value at some point in the future. By comparing posted skills and qualification against those selected for the interview process, the organization can quickly and accurately judge if they are recruiting effectively and correctly.
Don’t Dump The Data
With most organizations treating recruiting efforts as a “one and done” event, the collected data is either archived or simply deleted from the system. It is not treated as a resource of potential talent that can be accessed or referred for future recruiting events. To make efficient use of the data searches against the data should be accomplished before posting any recruiting event. Organizations should maximize the data to their advantage and not let qualified talent slip away to their competitors.
With the economy finally moving forward, the quest for talent being on the forefront of the organizations strategic plan, more efficient use of the applicant data is needed. The talent to fill many of your needs already exists within the HR system, all one has to do is source the data already at hand.
david.lawson 