With the help of smart technologies, our world is shifting faster than ever before, as we come to realize it is all about data. There are petabytes of data circulating anywhere and everywhere – millions and millions of data sets are being collected to our systems through various data silos, whether from marketing, sales, manufacturing, engineering or any other department, all to help enterprises build data-driven strategies and make the best informed decisions.
The rise of Artificial Intelligence (AI) and machine learning expedites our learning curve from the flood of data surrounding us helping us get immediate and efficient practical insights. Enterprises are transforming departments and implementing tools to help analyze high volumes of information each department tackles in attempt to come up with new ways to optimize work processes and workflows.
However, despite being aware and advancing to the data-informed decisions approach, most enterprises are unable to process and understand the data and are not making the most out of the information flow at all, creating an untouched pool of data, leaving the decision makers in the enterprise in the dark.
When asked to name the most important thing in a company most CEOs and Investors, would say People, and HR teams seem to be working with that same notion in recruiting talent. In 2017, the number HR tools used went from 4 up to 7 – tools allowing HR teams to analyze, evaluate and screen in order to find the most attractive candidates from their massive pile of applications.
With HR teams crumbling under the pressure and time-consuming task of sorting these CVs, no one has stopped to ask what is to learn from the thousands of CVs reviewed. The answer is – a lot.
FINDING NEW WAYS TO MAKE DATA-INFORMED DECISIONS IN RECRUITING
Understanding the value in hidden data between the lines of a resume is crucial to better optimize the work of HR teams, enabling them to leverage its value and help decision makers to get better informed and optimize their work.
Analyzing your database to learn where most of your best candidates are coming from, can help the COO make better decisions in regard to opening new branches of the company to be more attractive location wise. Noting where most of your applicants worked prior to applying, can help the CMO better target its audience, post listings accordingly and achieve better conversion rates. Evaluating the sources and budgets of where the best candidates are coming from and which positions they apply to can help the CFO to optimize the company’s budget and save on company’s resources.
There are many more examples of things we can learn from CVs, that until today have been ignored. The HR teams can empower all departments in the organization and leverage the analyzed data to not only find new ways to make data-informed decisions in recruiting, but rather optimize all decision makers and creating value outside their department.