Data-driven recruitment

Employee data

If you are looking solely for a person that fits your demands perfectly, you can opt for an employee dataset. It gives insights into the professional life of a person.

The main data points such as name, location, connections, experience, position, education, and skills provide you with more than enough intelligence to know whether that person is a good fit for you.

Firmographic data

When you have the information about a potential employee, you can check the companies they worked in for more extensive knowledge. Firmographic data helps with that. The main data points such as name, industry, size, revenue, and location provide you with more background information about the potential employee's previous worksites.

By having access to, in this case, contextual information, you can see where that person worked before. It helps you see whether your industries match. If they do, that might indicate that the potential employee would be great at what you want them to do, because they have already done it before.

Job posting data

Job posting data allows you to see previous job postings regarding the selected position. You can keep track of those job postings and see how they improve or decline over time.

It helps you make better job postings and descriptions of your own; therefore, increasing the chances that a potential employee will stumble upon your job description and be interested enough to apply.

In short

Traditional hiring is a costly activity. Both in time and resources. Data-driven recruiting allows to reduce costs and improve the overall efficiency of the operation.

Data-driven recruitment improves the entire hiring process:

• Find qualified candidates
• Minimize the chance of unqualified hires
• Reduce hiring costs
• Scan job offers

Qualified candidates

You can reduce the chances of interviewing or hiring unqualified candidates by screening their professional records using our alternative data. Professional candidate experience, skills, and education will provide you with solid information about a potential candidate.

A data-driven approach to recruitment is superior to guesswork and gut feeling-related decision-making. You get substantial information to base your decisions on, therefore removing the need for guessing.

The best dataset for this solution is our employee data.

Unqualified hires

Bad hires are the bane of existence for a recruitment team.

First of all, you do not know instantaneously about the bad hire.

Secondly, it takes time to see that the new employee is not a good fit for the position. On estimate, it takes 8 to 26 weeks for an employee to become fully productive. And time is valuable.

Finally, you lose a lot by hiring an unqualified candidate. The employee is most likely being paid more than they are earning for the company. If that does not change after the onboarding period has ended, that is bad news for you.

In the end, you will need to start the recruiting process all over again. Unqualified hires are detrimental to a company's overall performance and need to be avoided.

Our employee data also helps with that.

Hiring costs

Hiring is possibly one of the most costly and resource-draining parts of business; therefore, the talent acquisition team needs to proceed with caution for maximum benefit. Hiring success will most likely impact the overall success of a company.

It is especially true for small businesses. It has been estimated that small company owners spend up to 40% of their time on tasks that do not generate revenue. One of those tasks is hiring. Every single hire can make or break a small business.

If you want to save time, you can opt for an HR hiring agency. However, it can prove to be too expensive.

For instance, according to Glassdoor, a job board website, an average employer in the United States dedicates around $4,000 and 24 days to find a new employee.

Our employee and job posting data solutions can help you minimize those costs by providing access to professional information about a potential candidate and job boards data to improve your knowledge about certain aspects of a job posting.

Job offers

Scanning job offers can be a useful way to see what job postings work better than others. You can find inspiration and improve your own job posting. You can see how other recruiters approach potential candidates and what benefits they offer. As a result, you can find certain loopholes in their postings or see how they can be improved to fit your situation better.

Coresignal’s rich in-depth employee and firmographic data combined with recruitment analytics can help you maximize the benefits of your data-driven recruitment process. Here are a few benefits of implementing a data-driven recruitment strategy: 

• Discovering successful talent sourcing strategies
• Increasing offer acceptance rate
• Increasing the quality of your new hires
• Improving cost-per-hire
• Improving the time to hire

Discover talent sourcing strategies

Talent sourcing is used to identify, examine, and connect with potential candidates for a position. The main goal is to turn those candidates into applicants so they can be led through the hiring funnel and become an employee.

With Coresignal's employee data you can do just that.

Identify candidates

Identifying a qualified candidate is easier than ever with our employee data. With access to data points such as professional candidate experience, skills, location, education, and more, you can filter out the candidates that are perfect for you.

A few clicks and the identification process is done. No additional manual work is required.

Examine candidates

Once you have identified promising candidates, you can begin examining them further. Any professional questions that you have can be answered with alternative data.

You can find where that person worked before, what position they had, the salary for that position, etc. In combination with firmographic data, you can even analyze the company they used to work for in detail.

Connect with the candidates

You have identified and examined some selected candidates by now. The next step is to contact them. At this point, you have probably checked the historical data of similar job descriptions, found out what was the candidate's position, and other information that gives you an advantage.

Increasing offer acceptance rate

As a potential employer, you need to know exactly what you are looking for and the benefits you can provide.

Having more information about your candidates provides you with the edge of being able to deliver more personalized approaches. As a result, the offer acceptance rates increase. You know exactly what you are looking for and what the potential candidates may want from you. You can consider their previous working conditions and offer something similar or better.

Personalization is a great tool to enhance your hiring process.

Increase the quality of your new hires

By using Coresignal's employee data, you gather insights into the potential employees' professional records, resulting in improved quality of new hires. You no longer need to rely on hunches or guesswork, since you have fresh and relevant data.

Improved cost-per-hire

As mentioned earlier, it takes around $4,000 for an average US employer to hire someone. You can lower those costs by implementing a data-driven approach and decrease the overall costs of a hiring process.

Improved time to hire

As pointed out before, it takes around 24 days for an average US employer to hire a candidate. By using our data, you can speed up the hiring process and find the very best candidates faster than your competition.