Why you need a data-based recruiting strategy
The original dilemma
An upper-tier life science research and clinical diagnostics company needed positions filled in a remote location in California. Their roles were left unfilled for over six months. When companies have open positions for an extreme length of time it creates inefficiency within the company, therefore can be incredibly risky for business. These roles were highly advanced and specialized, so it was no surprise why they were left unfilled.
Their in-house talent acquisition team realized that they needed help in their recruiting department. Through working with another recruiting service, this specific biotech company was able to make five placements in the first three months (including one executive search), with the average cost per hire being $8000.
How was this recruiting firm able to recruit and fill positions within a couple of weeks that had been open for almost half a year?
Through using analytics of course.
What this meant was that through using analytics in recruiting it offered valuable visibility and insight into the biotech company’s recruiting services; which they greatly lacked. In the end they were able to find impressive success with their new provider.
The recruiting firm was able to provide maximum outreach per each candidate. It’s important to note that you won’t find this kind of dedication through a contingency firm: high end search is very risky for contingency firms since they are labor intensive and result in a lack of committed effort over time. For this specific biotech company the recruiters made sure to initially go over each single resume with the hiring manager in order to ensure the recruiter’s search was productive.
Enlist metrics to do the work for you
What was useful in this particular case was that they had access to the metrics which carefully outlined exactly how many candidates were reached and what the response rate was. The data on this process is extremely important because the biotech company did not have this visibility into seeing how productive their process of recruiting was before. And with larger companies, recruiting is tedious work and things tend to fall through the crack sometimes.
When you’re unable to measure this or have the visibility into this process, you’re results will be stagnant and your data will live in a vacuum. Also, it helped that the recruiting company was able to provide data to back up their reasoning for choosing a candidate, taking the “he said, she said” out of recruiting story.
Therefore, — data based decision making allows for optimal hiring strategies.
Originally published at www.sagehumancapital.com.