Predictive Hiring Can Help You Win the Talent War
Author: David Mario Smith Date: December 12, 2014
Topics: Digital Business, Social HCM Research Note Number: 2014-52
Issue: How can enterprises leverage digital business for competitive advantage?
Issue: What are the trends in social HCM?
Summary: Predictive analytics affects every business discipline including HCM and specifically talent management, where predictive hiring can help HR professionals in the competition for talent.
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Predictive analytics looks at data from the past and present to find patterns that can help predict the future. Predictive hiring analyzes historical data about jobs and job candidates to predict their performance before they are actually hired. It uses algorithms to provide a rating or probability of success that can help managers decide who may be a better fit in a given job. In this research note, we discuss the use of predictive analytics in the hiring and recruiting process.
Predictive hiring is emerging as a critical HCM discipline because every business unit needs high-quality talent. We hear from large and small businesses that with today’s high turnover and the need for higher qualifications, they need to hire faster but also more effectively, because hiring wrong can critically impact the bottom line. A hiring team needs deep insight into the psychology and probable future behavior of candidates, not only to improve success rates for new hires, but also for their subsequent ongoing management.
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