Attacking The Labour Market With A Data Driven Hiring Strategy

by Tonmoy Shingal | Jul 27, 2017 | HR Corner | 0 comments

The haunting octopus - that spreads its ugly tentacles.  A movie in my childhood - reminds me of the rising menace of unemployment in the global labour market. We split hairs to search for the root cause. 

The World Economic Forum says that labour markets around the world are in disarray. They state the cause as a series of fundamental mismatches between the employer’s requirements and the talents they like to hire. [1]

As per a PWC report, 70% of CEOs firmly believe that the top three threats for their organization are to find people with key skills. [2]

labour

How Do You Recruit the Right Talent?

Smart ways like campus drives. Of course. The employers fervently search for those super-achievers who will go beyond and above the customers – to meet business objectives. [3] A data-driven solution for campus drives offer the ideal solution- to recruit the right candidates and at the right cost. 

The online assessment solutions from Mettl make it sure that only the best candidates get selected. This reduces the costs incurred in interviews and increases the ROI. A Great Campus Recruitment does not happen due to serendipity, but it needs to be based on well-crafted rules. [4] Here is where we start

The Rules that Guide Campus Engagement

Higher dropout of candidates is a threat for the recruiters - due to low engagement and low brand-connects. [5] Here are some of those minute rules on campus engagement and branding that might demand your attention:

Branding the Drive

Branding the drive is one focus area of recruiters as they attempt to grab the best talents-  to attract and retain them as well. Today, recruiters adopt smart techniques like podcasts and viral videos- to create the much-needed buzz. 

Social media is a great way to share the success story of your brand - to connect and understand the audience through promotions. Mobile-friendly career sites do help.

The Placement Talks

The Placement Talks enthrall the audience, leaving that indelible mark on young minds. Brand loyalty is built through these talks before the actual interview. Today’s wide eyed ingenue that you meet in a campus drive, might be the precious talent that you will be looking for a few years down the line.

That one fond memory that they recollect years later, is about representing company in the campus.

Where to Go Planning

The two cornerstones of a successful campus drive are clarity on requirements and realism in shortlisting campuses. It is a pointless endeavor to visit a Tier-1 Institute, understanding well, that your requirements will be better met at a lower-tiered one. 

In this instance, the company sets aside its ego and snaps up the right talents. Our quest for a right solution begins here and what is the right solution?

Is Data Driven Solution the Right Solution?

Talents that deliver innovative solutions are high in demand.  The data-driven approach will recruit the right talents – that too at the right price. Mining the troves of data from the recruitment process will unearth the top-performing ones. [3] 

Today, the employers are fighting a staunch battle to hire the top talents - that too for a long-term. The top performers from the campus drives need to be aligned to the organizational competencies to achieve the same. What then is Mettl’s role in this tale?  

Mettl’s Data Driven Solution

Mettl’s assessment tests segregate the better performers. The analytics engine provides insights - optimizing the hiring process and improving the quality of hires. The campus scorecards from Mettl are useful for segregation of the workforce based on performance. This is subject to the percentage of candidates clearing a benchmark score. 

A campus level benchmark is not suitable for a campus recruitment. So, Mettl takes recourse to an overall benchmarking. The number of people above the overall benchmarking is what is acceptable by the recruiter. The Where to Go Planning that we discussed earlier is best solved by the Performance Analysis Report from Mettl. It will analyze the results from a series of colleges enabling you to visit the right colleges.

Recruiting the Best

Organizations are facing acute talent shortage - all over the globe. It is important to recruit people with the key skills- so very vital for a sustainable growth of the organizations -scrambling to stay ahead of their competition. The best solution for a campus recruitment is a data driven approach.

Campus scorecard is an integral part of the same - that establishes a baseline for future performance. A performance analysis report helps to make a better decision with the where to go plan. The data-driven solution ensures that you recruit the right talents and at the right cost.

References

[1] https://www.weforum.org/agenda/2015/10/whats-wrong-with-the-worlds-labour-markets/

[2] http://www.gethppy.com/talent-management/recruiting-top-talent-challenge

[3] https://www.visier.com/workforce-intelligence-101/5-benefits-of-data-driven-recruitment/

[4] http://www.livemint.com/Leisure/P6k1LDx7JdP66OhjgKizEK/The-golden-rules-of-campus-engagement-and-recruitment.html

[5] https://www.peoplematters.in/article/recruitment/dealing-with-dropouts-new-ways-to-attract-retain-campus-talent-14046