The landscape of the recruitment and talent acquisition process has changed drastically in recent years. The recruiters search for the right candidates’ resume lying within the company, online job portals or from the recruitment agencies. However, both organizations and candidates often face dissatisfaction with the hiring process as these data sources are not updated and consistent. In future, this will no longer be the case as recruiters will have access to Big Data Analytics platforms which will provide real-time collective talent intelligence.
The data-driven Big Data Analytics platforms, available as SaaS (Software as a Service) integrates and analyses different data sources such as online resume databases, social media profiles, records of employment, and even scanned business cards and job applications. The platform with a modern & innovative web front-end, functions as an intelligence engine for searching the right talent that matches combination of external and internal variables for smarter hiring.
How Big Data Analytics Platform enables smarter recruiting?
- Finding a right profile: Recruiters can now collect and aggregate publicly available data, in particular from social media networks such as LinkedIn, Facebook, Twitter and myriad sites, for details that point to prospects.
- Finding a similar profile: If a particular candidate isn’t currently available to join your company, then the platform helps you find another candidate with a similar job profile in no time.
- Finding willingness of employees to change: A recruiter can evaluate whether prospects are currently looking out for jobs and based on individual user behaviour – the platform can predict the personal willingness to change a job based on candidate’s frequent visits to job sites or updates on his/her LinkedIn profile. It makes easier and faster for HR representative to approach and get the right candidate on board.
- Finding effectiveness of job postings: Recruiters can easily analyze the success and failure of job posting on various digital media channels. The platform can recommend a go-forward plan by strategically positioning your jobs where it can work best. This helps HR to accurately track and predict the outcome of investment in online talent acquisition strategy.
The magic behind the curtains
The key USP of the platform or the secret sauce of Big Data Platforms is a very sophisticated data enrichment (aka ETL) process which not only ingests and blends huge amounts of data from various sources (Volume, Variety, Velocity, Veracity), but applies NLP (Natural Language Processing) for entity extraction & building semantic associations, geo-coding besides de-duplication and smart filtering. This enriched, semantically linked data, thus brought into centralized database is very apt for performing effective mining from the front-end, thereby significantly increasing the efficacy of the talent acquisition team.
Here is a step-wise processes explaining how the platform works:
- Data acquisition & Integration: The solution aggregates publicly available data from various different sources and more than 100 million data points from discussion boards, business social networks, and other public sites.
- Information Delivery: The solution offers on demand processing of high volume (in TB) data and delivers information to dashboard that offers deep data exploration for recruiters and advanced predictive analytics for statisticians to expedite the hiring.
- Data Analytics: The analytics engine helps HR teams to nail down the list of suitable job candidates through profiling of millions of contacts.
The article has been featured in Timesjobs.com written by Manish Soota - VP, Pre-sales & Solutions & Nupur Patel – Technical Writer, CIGNEX. You can read the same here - http://content.timesjobs.com/the-highway-to-data-driven-recruitment/