Big data is having a tremendous impact on how modern businesses use and interpret data. It’s currently used for everything from financial services, to gauging productivity, so even monitoring the weather. Companies across the spectrum — and from every industry — are looking to big data for solutions on how to leverage available data in meaningful ways. In fact, 42 per cent of companies has already invested in or plan to within the next year.
Why Use Big Data Recruitment?
One of the quickest ways to answer this question is to point to the amount of information constantly proliferating online. It’s impossible to use the same methods of recruiting you did 10 or even just five years ago. But more and more information to sift through means more and more time wasted during the hiring tradition process, especially if the candidate you’re researching turns out to be a dud.
It’s become a real pain point for recruiters who just ten years ago were constantly searching for candidates and are now inundated with too many prospects. There are more than 238 million members of LinkedIn alone, meaning recruiters literally have access to hundreds of millions of resumes at their fingertips. It’s easy to feel crushed by the weight of all this data.
The Three V’s of Big Data Recruiting
- A lot of variables are considered when it comes to finding the perfect candidate through this. Thousands upon thousands of bytes of data are crunched when recruiters look for someone with the right skill set.
- For example, big data applied to recruit for tech positions would look at a candidate’s publicly offered source code, their LinkedIn profile and other social media channels, the websites they frequent, and even the way they talk about technology.
- As we mentioned in the introduction, the traditional hiring process can take anywhere from 29 to 43 days. And this is only the average — clearly, some hiring processes to fill certain positions can take months.
- Big data recruiting makes the hiring process faster because of the velocity at which it recognizes and evaluates information.
- This helps recruiters and HR managers cut down on the time it takes to research top candidates because suddenly all the relevant information is right at hand. This means spending more time personally connecting with candidates and less time wasted pursuing the wrong people.
- One of the best reasons to use big data recruiting actually relates to variety. When it comes to big data, one of the attributes that set it apart from traditional analytics is the ability to combine information from a variety of different sources.
For instance, big data can look at text and video files and combine the information together. When recruiting for technical positions, big data can look at a candidate’s open source code and their social media channels and combine this information into a meaningful whole.
How Does Big Data Find Candidates?
- Using the three v’s previously discussed (variety, velocity, and volume), big data recruiting looks at candidates from several angles. Instead of just evaluating the information on a candidate’s resume, big data recruiting goes out into the Internet wilderness on an exploratory hunt and brings back a wealth of information on the candidate.
- A candidate’s social media profiles. Special emphasis is put on candidates who demonstrate their expertise on social media channels like Facebook and Twitter by sharing advice, thought leadership, and interesting industry insights.
A candidate’s resume information. Obviously, the traditional resume still exists for a reason. In addition to tech-heavy evaluations, big data recruiting can look at a candidate’s more traditional credentials.
Big data recruiting can help with candidate engagement in two ways:
- Using big data and analytics can help you understand the better kind of candidates you need. It can help you break down barriers and better understand which candidates will be high performers and which candidates just look good on paper.
- By providing a multitude of information, big data recruiting can help employers get a more personal feel for candidates earlier in the hiring process. With the proliferation of social media and personal blogs, you can get to know a candidate’s personality before the interview. This can allow you to skip right to candidates who are a good fit for your organizational culture.