Among various advancements in technologies which have completely altered the traditional manual recruitment processes is the utilization of Predictive Analytics. Predictive Analytics in recruitment has undoubtedly been a game changer for HR professionals in bringing more efficiency and productivity through a data-driven approach. This saves a significant amount and time and effort put on during the hiring and on-boarding of the candidates. Moreover, it has also become very important to track candidates though out their tenure in the company. As we are heading to a completely data-driven world, predictive analytics would be an indispensible part of any company, irrespective of which market they cater to.  Hence, using its capabilities to drive value from the sea of data that is being generated today, Predictive Analytics can also empower companies’ recruitment department to derive useful insights  across candidate sources, candidate screening, lead times, future employment needs, future employee performance, retention rates, hiring bottlenecks.

According to Aditya Narayan Mishra, CEO, CIEL HR Services, “Organizations have a huge amount of data about their employees: their personal details, education, family background and so on. They also have data about employees’ performance and behaviors. Hence, they can correlate all these three dimensions to determine the typical profile of an employee who is likely to be successful with them. That’s the power of predictive analytics!”  

Here are some the notable benefits that can be leveraged by HR Professionals from Predictive Analytics:

Enabling Targeted Hiring

Predictive Analytics will bring enhanced assessments of the candidates to target the required talent for a particular post. As various models of hiring are evolving with the changing market dynamics, the hiring process will get more advanced with the optimum use of data and the analytics.

Delivering Efficient and Intellectual Sourcing

One of the critical processes for recruiters is that the manual sourcing of the candidates takes significant amount of time and effort. HR teams can reinvent strategies, and eradicate any sort of ineffective sources through predictive analytics.

A Complete Employee Lifecycle Management

Today, it is not only about aiding companies in recruiting candidates but it is about the complete tracking and management of hired candidates throughout his/her tenure in the company. From analyzing employee attrition to employee’s lifecycle information, Predictive Analytics would be the backbone on managing the complete life cycle of every employee across companies.