Most people are skeptical of using big data when it comes to hiring. It's hard to understand how a person can be measured and analyzed by a computerized process of data. In addition, change in any organization takes time, patience and a new way of thinking. Will big data be a new era of recruiting? Is the traditional method of recruiting, interviewing and hiring obsolete?
Rather than replace an existing method or remove human experiences, understanding and expertise – the science of hiring allows the process to become streamlined and effective. Big data is used to help and aid in this process, it is not used as a replacement or new method.
Why should you care about big data for your hiring strategy? Big data is the key to hiring great talent,reducing attrition and it can also help increase diversity and maximize each candidate interview.GE andAccenture research shows that the highest performing businesses are five times more likely than their low-performing competitors to view analytics as core to the business. Analyzing and interpreting big data has proven to create more efficient, informed and successful decision making in all areas of an organization.If the use of big data is core to a business' success, perhaps its a good idea to incorporate those methods into hiring strategies.
For example, wouldn’t it be helpful if there was a way to take data from millions of interviews—and turn it into something that predicts which candidates will be your top performers? Knowing the positive results big data could have on the hiring process, HireVue created HireVue Insights™, a data-driven recommendation engine that leverages the power of big data to help reduce the guesswork of finding the best talent.Beyond profile information, HireVue Insights analyzes actual candidate interactions and matches them to current top performers– considering over 100,000 times more data than a resume or online profile –all within the context of every organization, their positions, and feedback. It gets smarter over time to become a personalized data-driven hiring model.
With big data being recognized as a key to success, every organization needs to consider utilizing this technology when searching for top talent and creating a solid foundation for their organization.
If you’d like to learn more about predictive analytics check out our webinar, How to Use Data to Predict Your Future Rockstars.