By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
SmartData Collective
  • Analytics
    AnalyticsShow More
    construction analytics
    5 Benefits of Analytics to Manage Commercial Construction
    5 Min Read
    benefits of data analytics for financial industry
    Fascinating Changes Data Analytics Brings to Finance
    7 Min Read
    analyzing big data for its quality and value
    Use this Strategic Approach to Maximize Your Data’s Value
    6 Min Read
    data-driven seo for product pages
    6 Tips for Using Data Analytics for Product Page SEO
    11 Min Read
    big data analytics in business
    5 Ways to Utilize Data Analytics to Grow Your Business
    6 Min Read
  • Big Data
  • BI
  • Exclusive
  • IT
  • Marketing
  • Software
Search
© 2008-23 SmartData Collective. All Rights Reserved.
Reading: Leveraging Data Science To Grow And Manage Your Team
Share
Notification Show More
Latest News
cloud-centric companies using network relocation
Cloud-Centric Companies Discover Benefits & Pitfalls of Network Relocation
Cloud Computing
construction analytics
5 Benefits of Analytics to Manage Commercial Construction
Analytics
database compliance guide
Four Strategies For Effective Database Compliance
Data Management
Digital Security From Weaponized AI
Fortifying Enterprise Digital Security Against Hackers Weaponizing AI
Security
DevOps on cloud
Optimizing Cost with DevOps on the Cloud
Cloud Computing Development Exclusive IT
Aa
SmartData Collective
Aa
Search
  • About
  • Help
  • Privacy
Follow US
© 2008-23 SmartData Collective. All Rights Reserved.
SmartData Collective > Big Data > Data Science > Leveraging Data Science To Grow And Manage Your Team
Big DataData ScienceExclusive

Leveraging Data Science To Grow And Manage Your Team

Data analytics is solving longstanding challenges for companies trying to grow and mange their teams.

Matt Bertram
Last updated: 2021/08/18 at 7:39 PM
Matt Bertram
6 Min Read
data-driven hiring and human resource management
Shutterstock Photo License - By Wright Studio
SHARE
- Advertisement -

When applied to the hiring process, data analytics can help you strategically grow and manage your team with greater accuracy and success. More companies are using big data to create a stronger company culture.

Contents
Finding the best fit for an open positionSpeed up the recruitment processEnhancing outsourcingRetaining staff

50% of business owners consider big data to be the most effective hiring method, a Global Recruiting Trends survey reveals. Moreover, big data can also improve talent retention by 56% and better clarify skills gaps by 50%. Indeed, a business is only as successful as its people and, by adopting data analytics, you can quickly find the most suitable job candidates, speed up the recruitment process, enhance the outsourcing process, and avoid the expensive and unwanted problem of employee turnover.

- Advertisement -

Finding the best fit for an open position

Although widely used, keyword scanning software alone simply doesn’t generate sufficient success metrics when sifting through candidate resumes. Predictive analytics, in contrast, goes further than keyword scanning software by highlighting a plethora of valuable metrics like experience, job titles, qualifications, skills, industries, and businesses, and compares these to the open job description and even existing employee data. It then ranks a candidate’s suitability and for the job and likelihood of success in the role, in turn making the hiring process quicker and more efficient and increasing fill rates. By datafying this early stage in the recruitment process, you’ll also no longer need to rely on gut feeling, which can sometimes end up being a mistake if not balanced with logic and strategic decision making. Even though you may hit it off with a candidate in an interview and be impressed with their resume, that doesn’t necessarily mean they’re the right fit for your business. Fortunately, recruitment software and tools allow for data-driven decision-making that eliminates human bias and uncertainties, ultimately helping you make better decisions during the hiring process with greater accuracy and peace of mind.

Speed up the recruitment process

Top talent is typically hired by recruiters within ten days. If your recruitment process takes longer than this average, data science can help you speed it up while providing better results. To do this, you can begin by collecting data on your entire hiring process, including the average time taken to hire an employee, specific systems used (job boards or agencies), and average length of the vetting process and individual steps involved. With this data, you can then determine whether certain steps take longer than necessary and if these steps can either be automated or cut out completely. For instance, you may come to the understanding that the candidates who tend to reach the final interview stage are typically underqualified or too inexperienced for the role. So, in this situation, you may devise and implement an online test designed to assess candidates on their basic skills and knowledge of their field of work. Candidates who simply aren’t up to scratch can therefore be disqualified early on.

More Read

data analytics is essential for website UX design

Advances in Data Analytics Key to Business Website Optimization

How To Cultivate Data-Driven Decision-Making In Your Workplace
Data-Driven Companies Leverage OCR for Optimal Data Quality
Benefits of High-Resolution Lidar Data for Data-Driven Companies
Migration Guidelines for Data-Driven Ecommerce Companies

Enhancing outsourcing

Outsourcing tasks to a third party facilitates business growth. In the US, 300,000 jobs are outsourced every year with saving money being the main motive for nearly 60% of businesses. By freeing up time, outsourcing allows in-house employees to take care of the work they do best, thereby enhancing efficiency and productivity. Moreover, implementing big data into your outsourcing model allows for a more precise analysis of important data generated throughout the entire project. You can therefore quickly identify any obstacles or problems and ensure a more flexible, effective, and productive outsourcing arrangement. With the accurate data and insights, you can make strategic decisions to ensure success. Ideally, you want project management software that features SLAs, benchmarks, metrics, along with real-time, easy-to-read reports that don’t take too much time out of your day to digest and respond to.

Retaining staff

It costs an average of 6-9 months’ salary each time a business replaces an employee. So, if you make $60,000 annually, for example, recruiting and onboarding fees cost $30,000-$45,000.  Keeping staff happy increases company loyalty, keeps them with you for longer, and therefore helps avoid costly new hires. Here’s where data analytics can help. By monitoring worker efficiency and productivity, data analytics provides you with a clear picture of each individual employee’s interests, skills, strengths, and expertise. In turn, you’re in a better position to offer your employees more engaging and challenging roles just right for them. Data analytics essentially helps you get the most out of your staff while increasing job satisfaction and retention rates at the same time.

Big data has the potential to greatly improve the hiring process for our business. By using data science to find the best job candidates, speed up the recruitment process, and improve the outsourcing process and staff retention rates, you can better grow and manage your team and ensure business success.

- Advertisement -
TAGGED: data-driven business, human resource data, human resources management
Matt Bertram August 18, 2021
Share this Article
Facebook Twitter Pinterest LinkedIn
Share
By Matt Bertram
Follow:
MATT BERTRAM, C.P.C., is the Co-Host of the most popular SEO podcast on iTunes. He is the Lead Digital Marketing Strategist and CEO at eWebResults, a top internet marketing agency since 1999 focused on driving traffic though multi-channel marketing built on Organic SEO as the backbone.
- Advertisement -

Follow us on Facebook

Latest News

cloud-centric companies using network relocation
Cloud-Centric Companies Discover Benefits & Pitfalls of Network Relocation
Cloud Computing
construction analytics
5 Benefits of Analytics to Manage Commercial Construction
Analytics
database compliance guide
Four Strategies For Effective Database Compliance
Data Management
Digital Security From Weaponized AI
Fortifying Enterprise Digital Security Against Hackers Weaponizing AI
Security

Stay Connected

1.2k Followers Like
33.7k Followers Follow
222 Followers Pin

You Might also Like

data analytics is essential for website UX design
AnalyticsBig DataExclusive

Advances in Data Analytics Key to Business Website Optimization

7 Min Read
big data can help with the decision-making process of your company
Big DataExclusive

How To Cultivate Data-Driven Decision-Making In Your Workplace

8 Min Read
AI helps with the growth of OCR technology
Big DataExclusive

Data-Driven Companies Leverage OCR for Optimal Data Quality

8 Min Read
benefits of lidar data for data-driven businesses
Big DataExclusive

Benefits of High-Resolution Lidar Data for Data-Driven Companies

7 Min Read

SmartData Collective is one of the largest & trusted community covering technical content about Big Data, BI, Cloud, Analytics, Artificial Intelligence, IoT & more.

AI chatbots
AI Chatbots Can Help Retailers Convert Live Broadcast Viewers into Sales!
Artificial Intelligence Chatbots Exclusive
ai is improving the safety of cars
From Bolts to Bots: How AI Is Fortifying the Automotive Industry
Artificial Intelligence Chatbots Exclusive

Quick Link

  • About
  • Contact
  • Privacy
Follow US

© 2008-23 SmartData Collective. All Rights Reserved.

Removed from reading list

Undo
Go to mobile version
Welcome Back!

Sign in to your account

Lost your password?