Your organisation needs to find better graduate candidates, with fewer resources, in a shorter timeframe. Leveraging data analytics can make that happen.
With graduate recruitment on a slight wane following the Brexit vote (though other research points to strong year-over-year growth), organisations are eager to ensure that the university-leavers they do enlist are as ideally suited to the company as possible.
To achieve this lofty objective, many organisations are turning to data analytics, and their powerful ability to spot right-fit recruits, as a means of enhancing their graduate recruitment programmes. Data analytics also increase the ease with which businesses can recruit remotely and cater to the tech-forward inclinations of the UK’s university-leavers. Specifically, organisations can use recruitment technology to engage with and screen candidates, leveraging data to ultimately make well-informed hiring decisions.
That said, there are right and wrong ways to approach data analytics as it pertains to graduate recruitment. For optimal results, we recommend the following best practises:
Data-Driven Best Practices
When considering the implementation of data analytics in graduate recruitment, HR professionals need to keep the perspective of - you guessed it - graduates foremost in their minds. This is to say that the more graduates come across your firm, visit your website, and complete your screening process, the more valuable your data-crunching will become. To start with, consider:
On your website, create a section dedicated solely to graduate hiring, with a sophisticated automated screening programme for applicants. This provides a more nuanced screening process, reducing the possibility that qualified candidates might be filtered out for arbitrary reasons (i.e. not having the requisite number of years of experience). As SHRM notes, this also gives you the chance to broadcast your brand and corporate messaging in a way that strongly appeals to graduates’ particular values and goals – in order to attract the very upper crust of talent, your company’s ethos must mirror candidates’ expectations.
On the same note, during the digital screening process (we recommend video interviewing), graduates should have the opportunity to provide feedback on their experience, providing data points from which HR can derive experience metrics. The importance of a streamlined interview process cannot be understated: 94% of university-leavers regard the interview experience as critical when considering a job offer.
Internal Data Analytics
As a department, you want to collect graduate recruitment data that will enable you to both spot stellar recruits and continually improve your processes. First, companies should determine objective scoring metrics to standardize recruitment screening – Google was one of the first to do this with their unique arsenal of interview questions – as this allows HR to make unbiased, data-driven recruitment decisions with the goals of the company in mind.
As ERE observes, your HR team should also generate standard quality-of-hire metrics: work performance, retention and failure rates, etc. These metrics can be combined to determine which standardised interview questions or metrics are the best indicators of exceptional future job performance. Recruiters can also track which university degrees, academic programs, or skillsets translate most significantly into an outstanding hire, and refocus their efforts accordingly.
Refining the Process
The biggest benefit of leveraging data analytics in graduate recruitment is that the programme will improve on a continual basis. As pools of data are collected from one end of the graduate recruitment journey to the other, organisations can establish clear baselines for what’s working and what isn’t, and refine the process accordingly. Taking the next step, recruiters can apply machine learning technology to their data. With programs such as LaunchPad VERIFY™, HR teams can point to specific weaknesses of their recruitment programmes and hire better graduates, more confidently.
Naturally, it’s difficult to determine the precise employability of graduate recruits; but when data analytics are applied rigorously to a recruitment programme, patterns inevitably begin to emerge. With the knowledge that this analysis provides, recruiters can improve the candidate experience, engage graduates more effectively and ultimately find the best-suited candidates in the most cost-effective way possible.