Targeted Recruitment Strategies

The most important asset in any organization is its talent. But finding the right talent and keeping them is an ongoing challenge most organizations face. The cost of personnel turnover is astronomical, by some estimates could be as high as 1.5 times the employee's total enumeration package.

Mistakes in recruitment decisions can be costly for any organization. Being successful in recruitment means not only anticipating business needs but also making the correct decisions about critical matters and looking at specific algorithms that show cause-and effect synergy to minimize the costly discrepancies.

It is impossible to have the perfect selection method that guarantees absolute predictive and face validity, however an organization can add several techniques aimed at maximizing the utility and reliability of the process.

Predictive analysis is an exciting and promising phase of the evolution of talent acquisition, like arithmetic, indicators are bias free and applicable over a vast range of opportunities. It is a new innovative way to anticipate talent needs and optimize selection process in a synchronous fashion.
The first step in developing the foundation for talent analytics is to get a clear vision of the talent management decisions that are important and impactful to your organization. It is important for the human resource analyst to understand the increases and decreases in the organizational growth, output and revenue.

Next the human resource analyst will need to look for essential abilities of the role in question by conducting competency analysis, determining the performance standards and assessment criteria together with a mechanism for scoring each individual candidate's performance.

Another factor to consider is labor market for the roles necessary to drive the organizational strategy; by this the human resource analyst will understand the length of time it will take to fill a job, the salary expect to pay for the role and the potential challenges to fill the role.

Lastly the human resource analyst will need to look at targeted metrics to evaluate and make informed decisions in order to receive the best return the predictive analysis. These metrics are used to gather, analyze and present information regarding the hiring process, such as forecasted unemployment rates for the role, turnover rates, time to fill, budgeted vs unbudgeted headcount ratios as well as YOY growth.

Looking at predictive analysis from a holistic perspective, will allow the organization to see the challenges that are coming their way, to anticipate the workforce required to meet those needs, and the metrics that will best allow them measure their results. Labor opportunities can be predicted.

A recruitment article by Dougles Chan - An expert recruitment business mentor that trains individuals on how to start employment agency effectively and and grow their business profitability.