Top 4 Data Sources for Effective Recruitment Strategies

Recruiting effectiveness is among the most important challenges for growing companies. Having to hire at scale and be prepared for future recruitment cycles makes HR managers turn to data and analytics to meet the high demands of a booming business.

This overview of the best recruitment data sources in 2024 will cover critical aspects of productive data-driven hiring. 

4 effective recruitment strategies

Recruiting today is different from what it was just a few decades ago. Although some strategies never get old, today’s technology and lifestyle dictate new hiring trends. Here are some of the most effective hiring strategies in 2024.

1. Use data for recruitment

If we look for one thing that revolutionized modern business practices the most, it has to be big data analytics. The firm’s ability to effectively use recruitment data makes all the difference in hiring. Talent acquisition teams with mature data analytics are three times more likely to achieve cost reductions and efficiency gains.

Thus, using data for recruitment from being the way forward is now turning into a necessity for most big and growing businesses. We will look closer at how to utilize recruitment data successfully below.

2. Get referrals from your current employees

Employees that have already proven themselves in the firm are among the top assets for recruitment managers. They are, of course, the best for referring someone for similar jobs to their own since they already know the ins and outs of it. Knowing the company culture, however, enables them to understand who would also be a good fit in other departments.

Additionally, current employees will only refer candidates they would want to work with. And considering their own reputation in the firm, they will be motivated to choose who to recommend carefully.

3. Utilize social media

Along with social media networks dedicated specifically to career-oriented socializing, nowadays, it is acceptable to use all leading social media channels for recruiting. Using social media to connect regarding job opportunities is a cost-effective recruitment strategy that has the potential to reach a broader public than any other.

By building up your brand on social media, you can engage not only with customers but potential employees as well. Displaying your advantages as an employer on social media websites will help attract talent to your firm and get more applications for open positions. 

4. Automate your procedures

With a great volume of data comes great responsibility to manage it quickly and efficiently. Get an applicant tracking system (ATS) and other data management tools to assist your HR in handling all the recruitment data.

Automating basic hiring procedures allows for finding the best fit faster, leaving HR more time to concentrate on proper onboarding. Removing repetitive tasks also boosts creativity which can be applied to more personalized and innovative interviewing of the candidates.

How to incorporate data into your hiring process

Automation is also one of the most beneficial ways to incorporate data into your recruitment process. It is, however, capable of much more than just taking the small recurring tasks off of the HR people's hands.

Making your hiring strategy data-driven and automating the procedures also allows for utilizing all the benefits of artificial intelligence (AI). AI tools can help with unbiased and efficient recruitment decision-making. Furthermore, data-based hiring decisions can then be tracked to measure the quality of hires, unlocking the possibilities for future improvements.

AI solutions can help use data for recruitment at every step of the process. It begins with identifying the pool of potential candidates. You can achieve this by extracting data from any online resume database for recruiters or acquiring datasets from top HR data providers.

Screening the talent pool

The next step is to screen the initial talent pool for the most fitting candidates. Automated tools can find particular keywords and skills in candidate resumes that are typical of your best hires. Examine the data on your current employees to arrive at a comprehensive list of such keywords to look for.

When the best candidates are selected, recruitment data will help you properly prepare for the interviews. You will be able to personalize the questions to get to know the candidates better and truly uncover their potential in the company.

Finally, with enough recruitment data, you will be able to figure out what the new employees need to adapt to the job the fastest. Thus, your onboarding strategies can be updated and tailored to the needs of incoming talent.

Best data sources for recruitment in 2024

1. Job boards and resume databases

Internet remains the main source for all kinds of business data, including data for recruitment. There are plenty of online job boards either for all kinds of job postings and searches or dedicated to specific industries.

A free resume database for recruiters like ZipRecruiter or Pinpoint can also be a great starting point for your HR data gathering. Keep in mind, however, that the free plans of such resume databases are usually very limited. At the end of the day, you will usually have to pay in one way or another to get the best recruitment data.

2. Social media platforms

As mentioned, using social media for hiring is pivotal. As the largest professional network, LinkedIn is one of the major recruitment data sources.

Experts invest time in building up their social media profiles and showcasing their knowledge and understanding in particular fields. Thus, you can also get crucial psychographic and recruitment data from Instagram, Facebook, and similar social media platforms.

3. Interviews and performance assessments

Interviews with applicants provide crucial insights into the expectations and desires of the current talent pool. What you learn directly from candidates allows filling your human resource information system (HRIS) with valuable data that is not publicly available.

Additionally, performance assessments and other talks with your current employees can be a great source of data for recruitment. Learning more about your workforce will make identifying and attracting similar candidates easier.

4. Organizations and associations for HR professionals

In many countries, there are national organizations uniting HR practitioners. Additionally, there are associations operating globally, like the Society for Human Resource Management (SHRM). 

Such organizations are great sources of learning materials and news regarding all things HR. As centers for knowledge sharing, they can provide practical guidance and means to keep in touch with the current labor market.

Data enrichment for recruitment platforms

Your ATS or HRIS holds data that data enrichment can make more valuable. HR data enrichment combines your employee and recruitment data with additional data points from trusted third-party recruitment data sources.

Data enrichment allows correcting the data in your recruitment platforms and filling in the gaps, thus raising the overall quality and usability of your data assets.

As one of the top recruitment data sources, Coresignal can provide high-quality HR data to enrich your recruitment platforms. With these additional data points, you will be able to hire faster, make better hiring decisions, and avoid costly errors that are made due to inaccurate data.

Summing up

Anything can become a great recruitment data source, from resume databases for recruiters to your own employees and data management platforms. Effective recruitment strategy in 2024 is one that combines data from various sources, enriches it, and utilizes AI tools to arrive at the best decisions.