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How Can Data Optimize Your Small Recruitment Budget?

Hiring new employees is essential for all businesses. If you want your company to grow or it needs a new element, some new talent is the best way to achieve this. However, it’s not an easy process. It takes time, costs money, and it’s possible you don’t find the correct candidate. The average cost of a new hire is over $4,000. This is a lot of money for a small business. It’s likely your budget isn’t that big, but you still need quality employees to grow your company. Luckily we live in a world where data can be tracked through online programs. Human resources workers or a recruitment team can take a look at a list of vendors to see which one is right for their company. How can you use data to improve the hiring process and save money? Continue reading to find out how.

Improve Potential Employee Experience

As much as you’re looking for the perfect candidates, they’re looking for the best job too. First impressions are vital for finding quality employees. By making the application process fun and straightforward, the best candidates will want to work with you. You can use data to improve the application by seeing which type of content or questions they responded best to. Knowing the length of time a person takes to apply is valuable data as well. If they apply in one sitting, then you know the app is engaging. When the job-seeker takes a few days to complete the application, you’ll see that it’s too long, it requires too much information, or it’s confusing. This is valuable information, and it can be used to fine-tune the application to make it more appealing for future candidates.

Speeds Up Recruitment

The longer the hiring process takes, the more money it will cost your business. It leads to potential employees looking elsewhere for more efficient jobs. On average, it takes 42 days to hire a new employee. Luckily the savvy use of data makes the process quicker. Based on the application, you can easily view the information about the candidate. You’ll know if they’ll fit what you’re looking for in a new employee. If you automatically know this person is not correct for your company, you don’t have to spend more time on them. You won’t have to call them in for an interview and ask them questions; the application’s data should give you enough insight. That way, you can spend more time on valuable candidates, and you’ll find someone quicker.

Eliminates Using Gut Feeling

Hiring someone because of a gut feeling isn’t always the best practice. It can lead to disappointment and having to start the hiring process all over again. When you use data, you’ll have evidence of why this person is the right candidate.

Organizing a career personality test for potential employees can provide you with accurate data about their work ethics and how they’ll fit in with the rest of the team. If your organization lacks a leader, you’ll pick one out right away with this data.

Another point to consider is that some people are excellent at interviews, while others aren’t. This can’t be a deciding factor because it’s not a good representation of how they’ll perform in a typical work situation. Using the data will eliminate the bias one interviewer might have toward a candidate.

However, Understand Data Limits

Using data while hiring has many benefits, but you should remember that it’s not everything. You’ll have a better and lower cost hiring process that will tell you a lot of things about a potential employee. However, you’ll still need in-person interviews. You can use the data collected from the application to tailor more candidate-specific questions, which will make the conversation shorter and more efficient. In the first interview, you can dig deeper into the person because you already have data on them. This information will cut the costs of having to do two with a candidate. To find the best people, you need to use a combination of data and face-to-face interviews.

The Bottom Line

Even when you have a low budget for recruitment, it doesn’t mean you won’t find quality employees. When you utilize data in the hiring process, you’ll save money and still have great options to choose from. Data will improve the experience for the potential employees, speed up the process, and eliminate the use of gut feelings. Although data is a great resource, remember it has its limits, and you’ll still need in-person interviews.