Staffing the right candidate for a job opening is a time consuming task. HR spends a few weeks to several months sourcing applications, evaluating candidates and shortlisting individuals. This effort is tantamount to finding the legendary needle in a haystack. Recruiters and HR teams have to still manually sift through applications to shortlist the right candidates. Industry averages estimate that HR teams spend up to 85% of their time on administrative activities and only 15% on strategic value-adding activities central to their organizations. Through Big Data Analytics, many of these chores are being automated and holistic evaluation of candidates’ profiles is being performed by aggregating datasets that cannot be manually performed. Such an approach is shortening the recruitment cycle and freeing up HR departments to focus on strategic growth initiatives.
Though companies have been leveraging data for strategic and operational decision making for decades, recruitment is an area that has been slow to evolve. Privacy laws, regulations and governance structures have traditionally restricted HR from embracing applicants’ online data in the recruitment process but Big Data has changed the game.