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Leveraging Big Data in Talent Acquisition

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eQuest's Big Data for HR division develops accurate sourcing strategies for clients with the help of the right technologies and the right people.

eQuest's Big Data for HR division develops accurate sourcing strategies for clients with the help of the right technologies and the right people.

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  • 1. ad v e r t i s i n g s u pp l e m e n t Talent Management Pa rt ner C ase s t udyLeveraging Big Data in Talent AcquisitioneQuest develops accurate sourcing strategies for clients with the help of theright technologies–and the right people.A s the global leader in job-posting delivery and How has talent sourcing changed with the arrival of big data? job board management services, eQuest With the arrival of big data, HR is faced with an unprecedented posts jobs to posting destinations all over the opportunity to become more data-driven, analytical and strategic inworld, reaching over 180 countries and territories. the way that it acquires talent. Powerful neweQuest is one of the most recognized and admired technologies make itbrands in the human resource industry, supporting possible for HR to blendleading Applicant Tracking Systems including Oracle its internal data with an extraordinary amountE-Business Suite, Oracle PeopleSoft, and Oracle of data from externalTaleo Cloud Services. sources to make evidence- based talent managementeQuest believes that successful talent acquisition is predicated on decisions and to raiseaccurate sourcing strategies. David Bernstein, vice president of eQuest’s the department’s profileBig Data division, discusses how the actionable insights that eQuest as a strategic partner toprovides to clients based on big data analysis fuels those strategies. senior leadership. Big data can help solidify HR’s David Bernstein, Vice President, eQuestWhat challenges do organizations face in acquiring talent? reputation as a strategicEmployers hire for a reason: they have an immediate need for talent business partner that makes analytics-driven, evidenced-based decisions,that is critical to the execution of their business objectives. Sourcing especially when it comes to talent acquisition. Big data-fueled hiringtalent is an ongoing activity that must be done well to support the timely means getting the right people into the company at the right times,needs of the business. Prolonged recruiting cycles due to an ineffective the first time. It means improving candidate sourced and selection,sourcing strategy causes talent constraints. These constraints will lead to speeding up the hiring process and reducing costs, all of which equatedelayed and or missed business opportunities and negatively impact the to significant competitive challenges.company’s profitability. Done well, talent acquisition will have a positive,measureable impact on the business. Successful talent acquisition is What is the role of HR employees in implementingpredicated on accurate sourcing strategies. these new technologies? Despite the relative youth of big data, many companies are already losingWhat are the important elements of a sight of something crucial—the human element. This is understandabletalent acquisition strategy? since the technical and technological aspects can pretty easily becomeEmployers need to leverage a mix of sourcing strategies to build their overwhelming. But the fact is big data is nothing without the right people.talent pipelines. Savvy employers are careful to allocate their resources— At its core, the real value of big data lies in the answers it can provide, thetime, money and people—to activities that produce optimal outcomes. insights that can be derived and its ability to enable business users to askBig data can be leveraged to identify both which sources will be most new kinds of questions that could not previously have been answered.effective and what the expected volume of candidate flow will be. The Big data only achieves its full potential when this information is analyzed,forecast for the optimal sources and the anticipated candidate flow can interpreted, reported and put to use by an organization’s people. In thisnow be made with greater accuracy and precision. The competitive respect, the promise of big data could easily be squandered if HR doesn’tadvantage and value of knowing in advance which sources will produce help to lead the big data charge, especially where talent acquisition isthe best results is clear—highly accurate talent sourcing forecast capability concerned. With help from the right external partners, HR can jump-startaccelerates the building of talent pipelines, enabling human resources the organizations’ big data efforts, make decisions that are exponentially(HR) to focus on candidate engagement, smarter recruitment advertising more evidence-based, and build strategic business advantages that willspend, and ultimately supporting the timely hiring required to meet the empower the entire organization.company’s business objectives.eQuest’s consulting service gives customers a significant competitiveedge in candidate sourcing and selection by combining its one billionplus job performance records with employment data records from a widevariety of sources. For more information, visit www.equest.com